Went through the process of house hunting/buying

[CS1]

No.

ok. it's still a good time for a loan/refinance. sorry -- was thinking of a 15-yr chart. Mazel Tov on the loan (and a new house/apt?).

[rileywiles23]

ok. it's still a good time for a loan/refinance. sorry -- was thinking of a 15-yr chart. Mazel Tov on the loan (and a new house/apt?).

House. Thanks.

[efflpetzel]

1) Does it make sense to get a housing inspection done on a New house

2) anyone here have experience getting a mortgage based on verified assets as opposed to based on income.
Thanks

[Batman]

1) Does it make sense to get a housing inspection done on a New house

You never know what problems are there and what work they did and didn't do/

did they put in new plumbing and heating
new electrical or just modify the old existing wires

[efflpetzel]

You never know what problems are there and what work they did and didn't do/

did they put in new plumbing and heating
new electrical or just modify the old existing wires

Brand new, but I don't trust the builder

[Batman]

Brand new, but I don't trust the builder

exactly why you want to get a inspector

the smallest thing like the angle of the sewer line could give you endless back up and basement flooding
which would result in you having to rip out the basement floor and reangle the sewer

or the heat is not balance and half the house is freezing and they can't figure it out...


(I can tell you some stories from the batcave.)

[elit]

1) Does it make sense to get a housing inspection done on a New house

Without question.  Wouldn't even consider buying without it. 

[Sammy82]

Without question.  Wouldn't even consider buying without it.

It's also very likely that you won't be able to get a mortgage without the inspection.

[moko]

Do I lock a rate today for a 2/28 closing or float? Current quote is 4.2 for a high balance 30 year fixed

[coralsnake]

Do I lock a rate today for a 2/28 closing or float? Current quote is 4.2 for a high balance 30 year fixed

Haha. I thought you were looking to close on a 2/28 loan! Then I read 30 year fixed.

[mgarfin]

exactly why you want to get a inspector

the smallest thing like the angle of the sewer line could give you endless back up and basement flooding
which would result in you having to rip out the basement floor and reangle the sewer

or the heat is not balance and half the house is freezing and they can't figure it out...


(I can tell you some stories from the batcave.)

And do you really think home inspectors find this!!

[moko]

And do you really think home inspectors find this!!

+1

[mgarfin]

On the topic of home inspectors


Home inspectors come in and write up a very vague report, as
"there is a small crack in the foundation we don't know what it is" 
"the roof is not that new it has some green patches, it may need repair in the next 1-10 years"
"the boiler is not that new it may need repair in the next 1-10 years"

You need to think of what will persuade you, not to purchase this property. If only hearing that the house may collapse, you are much better off by calling an engineer.

[Ephraimh]

If anybody has any experience with moving a deed I'd appreciate their input.

I bought a house on my name and I now want to transfer the deed from my name to a C corporation of which I own 10% (I'm a 10% shareholder),

The title company (Madison) claims that since I'm not the majority shareholder on the corporation, I'll be losing their insurance if I transfer it, and if something arises down the road, I'm on my own.

Is this normal practice?

[coralsnake]

There are other issues besides title insurance.
Is there a mortgage on the property? If so what are the lenders guidelines regarding title transfers? They likely have the option to call the loan if the title is transferred out of your name. 
Are you the only one on title?
What about property insurance? Does the homeowners policy cover this type of arrangement? Last thing you need is a loss and the insurance company telling you that they're not paying out because the ownership status was not disclosed to them properly and is not in compliance with your policy.
Is this an investment property with other partners involved? Is that why you're trying to transfer title to the Corp?