1st time buyer questions

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Mary

Buying a 1974 home

Post by Mary » Sat Jun 12, 2004 10:47 pm

Okay, after I said I'd never consider a home built before 1977, when HUD regulations on construction took effect, today I looked at a home built in 1974 and it was a gem.
I'm ready to have the realtor make an offer, because I really liked it and its features. It seemed to be well taken care of, new appliances, painted walls, great carpet, ceiling fans, etc.
To complicate things, I'm purchasing a home with my sister, and this is the only senior park in the city (not that large of a city) that works for both of us for various geographical and work reasons. So my search is somewhat limited. There are about 125 homes in this park, and they don't come up for sale that often!
We both really liked this one. However, I'm worried that it's a 1974! Help! Any advice from those with 1974-era homes?
We will, of course, through the realtor, demand a termite and roof inspection, and we are also willing to pay for a thorough house inspection (electrical, plumbing, etc.) and to make the offer contingent upon passing everything. Also, the realtor will put the phrase in, "appraisal for sales price," which he said means that if it's appraised lower, one pays a lower price. Seemed like a good idea.
We are both still nervous.... naturally. Although we've both owned homes in the past, we're now seniors and have never owned a mobile. We plan to live in this "forever," whenever that is. It has to last at least 20 years, in other words!
Thanks for any advice anyone has.

rmurray

Re: Buying a 1974 home

Post by rmurray » Sun Jun 13, 2004 7:24 am

Assuming this is the only park you want to live in..you are going to be stuck with these sales persons...Not good..

They are not too busy to answer your questions...I would suggest you talk to the park management and or owners...Call the plant itself and ask your questions..

I much agree with you that you need info to make quality decisions..Sounds to me like you are talking to a salesperson who knows they are on the way out the door...If not they should be..

As far as quality issues are concerned...check out the book store here for good guides for buyers...They are a small investment for peace of mind..


Good Luck

rmurray

Re: Buying a 1974 home

Post by rmurray » Sun Jun 13, 2004 7:28 am

Sorry about the other post...20 years is all..smile..probably will need it longer..

Since the park is so perfect for you...if this is the only home that you like in the park..you are on the right track...With care..these homes will last for many more decades...

One thing I would be sure of...be sure there is no aluminum wiring in the home..your home inspector can check this out...If the basic wiring is aluminum..I would pass..

Mary

Re: Buying a 1974 home

Post by Mary » Sun Jun 13, 2004 12:36 pm

Thank you so much, Murray! I've never heard of aluminum wiring, but I will find out and pass on the home if necessary.

rmurray

Re: Buying a 1974 home

Post by rmurray » Mon Jun 14, 2004 4:58 am

This type of wiring was allowed before 1977...I am not referring to the wire coming into the home...I am referring to the wires inside the home..

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