spirit1
TUG Member
- Joined
- Dec 23, 2020
- Messages
- 157
- Reaction score
- 261
- Resorts Owned
- Banff Rocky Mountain Resort
Hello Tuggers. I have a problem here and hope you can help.
My youngest son was looking at buying a house just a few blocks away from us. Great neighborhood. Built in 1959 a bilevel with attached single garage.
It has been for sale since end of September and has had three price adjustments down. From the pictures and just knowing the house, it has been beautifully looked after. The 99 year old owner has lived in that house for over 50 years and just moved into care. Everything, and I mean everything in that house is original. Except for a walk in tub in the upstairs bath. 60 amp electrical, no dishwasher, original cabinets and countertops, original water tank and furnace, beatiful hardwood floors in living room dining room and 3 upstairs bedrooms. It is actually a beautiful house with lots of original mahogany throughout. My son was looking forward to moving in and slowly upgrading over the years.
He called an inspector and was with him throughout the 4 hours of inspection. Very few things wrong with that house and it was very well priced. My son made an offer and it was accepted pending inspection.
Today he called me and was pretty upset. He had spoken to a woman from an insulation removing company who took the house address and told him that in that area there were sometimes houses that had insulation that contained asbestos. My son and inspector had looked in the attic and there was pink insulation but in the attacked single garage it was probably the pellet type that, due to the age of the house, could be asbestos based. If their company came and it was asbestos, the cost to remove properly would be about 15000 dollars. He called the realtor letting her know what the company told him and she immediately said the owners would lower the price to sell by 15000.
Now, my husband and I had been with our son to look at the house. We did not have our own realtor at the time but everything moved so quickly that we never had time to get one. My son can make a large downpayment and has very good credit score. He easily qualified for a mortgage, made an offer and when he did not want to counter their offer, they accepted his first offer...pending inspection.
I know that the house is a great deal, and with the cost of replacing the insulation, an even better deal. It was very well maintained but something is still not right with this decision.
My son is not in love with the hosue...he likes it, and the inspector said it was very well built (my husband was in construction and he agrees the house was well built but does not like the fact the insulation factor was not mentioned to us) The only downside with most buyers is the house is not upgraded but the fact that it was very well maintained was the main selling feature for us.
Oh, one more issue. The house shows very well from the outside because it has newer vinyl siding all around the house. But when we asked if there was insulation behind the siding, the realtor said no. Also she did not have the receipts for the siding. Now, my husband has receipts for carpet we installed 40 years ago. It seems strange that someone whose only upgrade in that house over 50 years was a walk in tub, but she installed vinyl siding? Problem with original siding damage? Just a nagging doubt on my side along with my husband.
I don't think my son is going to buy this house, but I would welcome your insights on this matter. Thanks for reading.
My youngest son was looking at buying a house just a few blocks away from us. Great neighborhood. Built in 1959 a bilevel with attached single garage.
It has been for sale since end of September and has had three price adjustments down. From the pictures and just knowing the house, it has been beautifully looked after. The 99 year old owner has lived in that house for over 50 years and just moved into care. Everything, and I mean everything in that house is original. Except for a walk in tub in the upstairs bath. 60 amp electrical, no dishwasher, original cabinets and countertops, original water tank and furnace, beatiful hardwood floors in living room dining room and 3 upstairs bedrooms. It is actually a beautiful house with lots of original mahogany throughout. My son was looking forward to moving in and slowly upgrading over the years.
He called an inspector and was with him throughout the 4 hours of inspection. Very few things wrong with that house and it was very well priced. My son made an offer and it was accepted pending inspection.
Today he called me and was pretty upset. He had spoken to a woman from an insulation removing company who took the house address and told him that in that area there were sometimes houses that had insulation that contained asbestos. My son and inspector had looked in the attic and there was pink insulation but in the attacked single garage it was probably the pellet type that, due to the age of the house, could be asbestos based. If their company came and it was asbestos, the cost to remove properly would be about 15000 dollars. He called the realtor letting her know what the company told him and she immediately said the owners would lower the price to sell by 15000.
Now, my husband and I had been with our son to look at the house. We did not have our own realtor at the time but everything moved so quickly that we never had time to get one. My son can make a large downpayment and has very good credit score. He easily qualified for a mortgage, made an offer and when he did not want to counter their offer, they accepted his first offer...pending inspection.
I know that the house is a great deal, and with the cost of replacing the insulation, an even better deal. It was very well maintained but something is still not right with this decision.
My son is not in love with the hosue...he likes it, and the inspector said it was very well built (my husband was in construction and he agrees the house was well built but does not like the fact the insulation factor was not mentioned to us) The only downside with most buyers is the house is not upgraded but the fact that it was very well maintained was the main selling feature for us.
Oh, one more issue. The house shows very well from the outside because it has newer vinyl siding all around the house. But when we asked if there was insulation behind the siding, the realtor said no. Also she did not have the receipts for the siding. Now, my husband has receipts for carpet we installed 40 years ago. It seems strange that someone whose only upgrade in that house over 50 years was a walk in tub, but she installed vinyl siding? Problem with original siding damage? Just a nagging doubt on my side along with my husband.
I don't think my son is going to buy this house, but I would welcome your insights on this matter. Thanks for reading.