We're going to look at a houseon Friday.What all do I need to ask the realtor?It's listed" As is "and way below market value.Thanks!!

Not sure what to ask....but if after looking, you are still interested, please, please, please(!!!) have an instpector come and take a look before making an offier.

I wish we would have known more about our house from either the previous owner or an inspector.

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What she said!!
I could give you a long list of things to look for. However, a professional inspector is the best route to go if you're not experienced in house buying.
I would think if the ad is listed "as is" the house is probably in pretty rough shape.

Agree with the others, but will add this. If this is your first house visit, keep looking. Especially in this market, you should look at many, many houses and you will learn what to ask as you do. Take your time to find the best house to meet your needs and as a sound investment.

cj/

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Check all the faucets for water pressure. Check the heating system. Look for signs of rodents and/or insects. If possible go there or to the neighborhood at different times during the day and night and on the weekend to ensure you are not moving next door to a rock band or amateur mechanics or something annoying.
Check the flushing of the toilet and the showers and tubs. Check for slow drains. Check the doors and windows.
Taste the water coming out of the faucet. Check around pipes for signs of water damage--check EVERYWHERE for signs of water damage.
Of course if you decide to buy it you will have an inspection but those are some things to check off the top.
Specifically ask the realtor to ask if there have ever been any plumbing problems. Check the roof.

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Not a whole lot you can ask the realtor because he/she may not know a lot about the house. If you like it, get an inspection. NEVER buy a house without one (even a new house). Our inspector found a water leak in our master bath tub and in our basement and it was brand new.

If it's an older home, I would ask how old the hot water heater is because you might end up having to replace it if it's old.

I do agree that if you have just started looking, keep looking...look til it hurts because there are LOTS of great deals out there and you might *love* the first house you look at but REALLY love the 100th house and can't live without it. After you look at a dozen or so houses, you know what you want and don't want even more than you think you know now. You can also compare prices better as well.

Good luck. See something weird or that looks wrong, it can't hurt to ask but be prepared that they may not have an answer. Any house you buy is "as is" unless it's new and has a warranty from the builder so the use of the word "as is" in the description is odd to me. The "way below market value" part makes me think that it has probably had some damage from it's last owners or is in need of great repair.

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If you decide that's the house for you. In addition to a regular inspection, I would also get a separate termite inspection. Here in Oklahoma a serarate termite inspection is the only thing required to sell a house, the regular inspection is optional. I know in most states a termite inspection is not required. When we bought our house, we bought from an individual, he gave us the key in advance to allow anyone we wanted in to do inspections as we were buying the house "as is" and there were some things wrong with it and it had been vacant for a couple of years. So we had all the utilities turned on and I had a friend who was a retired general contractor come in and look at all the foundation, plumbing, all the physical stuff. I hired an electrician to check all the electrical, he also went into the attic looked at everything (cost me $50). When the gas guy came out to light all the pilots and turn on the gas, I told him what I was doing, he checked for any gas leaks etc. for me. When the water guy came (friend of mine) to turn on the water, he checked for any water leaks he said you could tell if there were any leaks by looking at the meter when the water was off. He turned it off an on long enough to "inspect" for a day they didn't charge me anything. The gas we just left on in our name because we closed later in the week. Here in Oklahoma the termite inspection is required by the seller, so he had to pay for that. If you don't have friends the inspections will be a bit more expensive, but still worth the money. Never buy a house without having it inspected.

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" As Is " are usually Foreclosure homes. In MOST STATES banks are EXEMPT from disclosures on the house. If you decide to buy a foreclosure home you NEED to have ALOT of money put aside for future repairs. Most of these homes have FAST SHADY REPAIRS done on them before being placed on the market.

Be prepared for the house to have NO electric or running water when you go to look at it. We was told by our Realtor she would have it turned on if we decided to go ahead with a home inspection. After our own personal inspection we decided NOT to make a offer .There were too many red flags pointing to major foundation problems..Here are some links that may be useful to you.

How to inspect a home
http://www.human.cornell.edu/che/DEA...inspection.pdf

Checklist
Home Inspection Checklist


PS. I have seen many foreclosures priced below market value. & have seen many of them still drop in price...The house we looked at was approx $30,000 below the market value. & had been on the market for 6 months.I continued to keep my eye on it and notice 3 months later they started to drop it by 10,000 each month. The house was listed $80,000 below the value when it sold. I 'm sure they paid alot less than the asking price

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Great links angel. The home next door to us was on the market for almost 3 years before it was in foreclosure. Guy got to live there 2.5 years mortgage free before they asked him to leave. It sold for over $150 less than it originally listed for and it needs a lot of work inside and out. Luckily, it sold and the people who moved in like to do repairs. No *major* repairs thank goodness but LOTS of little things and those add up to big $$$ sometimes

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Thanks Sexysmurf. We are still looking for a home to buy and have aim ourselves with so much information I can still feel my head spin. We are taking our time & have become wiser when it comes to buying a house.. Our ex- realtor thought First Time Buyer = Sucker

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I would also get the MLS Link for your area. Your Realtor should be able to give it to you. It list all the homes for sale in your area...You will be able to figure out how long a house has been listed by keeping yourself familiar with the current homes for sale in your area

But be weary Many.homes are constantly being listed as " NEW LISTINGS " when in fact they have been on the market for awhile. & when they changed Realtor the days on the market change with them also. It may show 7 days on the market but that is how long it has been listed with that particular realtor. My ex- realtor tried to fudge it by saying... It just listed... or she said 90 days ..I really shocked her when I told her I know the home has been listed by Century 21 & 2 other companies & quoted all 3 of the prices to her

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Don't forget the Realtor wants to get the house sold quickly at the highest price possible. For that reason, ask the realtor as many questions as you like, just be prepared to do your own research. Some really good advice here. I would never buy a home without a Home Inspection, including Radon (and Lead Based Paint, depending on the age and location of the home).

Whether or not you have (or will have) kids, find out about the quality of the school district. It greatly affects the value of your home.

Love those woods behind your home?? Find out from the County what it is zoned (industrial would be bad, residential would be good, open space/recreation would be ideal).

Ask if you can have a copy of the most recent electric (or whatever fuel) bill, so you know what you are in for.

Septic or well? Lots of questions if the answer is yes. 1 year after we moved in, we were told sewer hook in was mandatory (@ $10,000)

We parked our car and walked around the neighborhood one sunny afternoon to see what a typical day was like on our street.

Good luck on finding a perfect home for you and your family.

In my state, the realtors work for the seller, period. I personally don't really trust realtors.

cj/

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I was walking home one night and a guy hammering on a roof called me a paranoid little weirdo. In morse code. -Emo Phillips

I obtained my realtor license in 1978 and have only practiced off and on over the years mainly to buy and sell for myself or to assist friends and relatives. Personally I would find it hard to make a good living at it being that I'm a very honest person and could never recommend a house to someone if I knew there were issues with the home.

A realtor is typically working for the seller since that is the one who signed the contract and is paying the 6-7% commission on the selling price. But......most/all realtors that I know will do anything to get a house sold by getting the buyer and seller to agree on price and terms.Do I trust most realtors?.....not on your life. Sorry if I offend any realtors out there but this is what I've seen in my years of dealing with them. Realtors in this area often send flowers to the funeral home when a husband or wife passes away with the hopes of getting a listing when the surviving spouse decides to downsize. I think it's disqusting.

The state of Ohio requires all sellers to sign a disclosure form listing all known problems with the home. I know a couple that didn't list problems with the septic system and the buyer found out 2 years after purchasing and took them to court. The new owner was awarded over $10,000 by the court.

If you do decide to buy the 'as is', ask if you will get a clear title.

Never know who/what actually own the 'property' with all the selling of mortgages.