Have you bought a used house before? Can you give advice?

Question

My question is a few parts: 
1) How do you make a proposal that gets accepted... how do you word it?
2) The home is on 1/2 acre, in West Valley, UT.  It is an OLD home, built in the 1940s.  Barely had any maintenance done on it.
3) Will depreciation over the next few years, make it cheaper to wait?

The house price is lowered to $120,000, but the seller won't go lower.   

How do I convince the seller to lower the price if it is too high?

Finally, how do I know if the house is any good?  How do I get someone to look at it and assess its structural problems (foundation, leaks, roof lifespan etc.)

linkus86 · Accepted Answer

Most houses purchased are used.  I highly suggest you get a real estate agent to help you with the purchase as it is good to have a professional help you with the largest purchase of your life.  The agent will also know your market and be able to tell you the truth about the volatility of your market (whether or not the house will increase or decrease in value).  The house and property may very well be priced below market now, but if it isn't your agent could prove it to the seller to get him to lower the price.  After you and the seller negotiate a price you make a contract contingent upon an inspection of the property at which time you hire a home inspector or a handful of specialized inspectors (roofer, HVAC, plumber, etc) to determine its condition.

? · Answer

you spend your money for
a real estate structural property
inspection by Licensed Inspector.
Get Termite/bug inspection also.
get a real estate Appraisal for 
certified/licensed Appraiser.

if they will not go lower= walk away.
Plenty of house available now.

house may not even get a occupancy
permit since being sold.
u may have a tear down and have to build
u new one. definite walk away.

Have you bought a used house before? Can you give advice?

2 Answers