buying forclosed home...need advice

[Mr. I - Man]

Take the upgrade and rent out your existing house till the market picks up. That way you will still build equity in your existing house while you rent it out or see if a real estate company will do a contingency sale (kind of a unicorn in todays market). Just some thoughts.

[RubHer Yellow Ducky]

Unless you have the funds (meaning you got money) make the offer on the new place based on selling yours. Many people won't accept that kind of offer but you will never know till you try...

and radiant floors work great...

[wpage]

radiant floors can be problematic. If you get a leak you are in big trouble. If a freeze or poor workmanship in the install of the pipe in the concrete occured big bucks to fix.
Get a good inspection for leaks and quality construct if possible

[Hucky]

What are property taxes like in your area? per square footage

Yes, run that radiant system for a while before you purchase and put it through its paces.

can you afford both mortgages at this time? If you can, then rent the current home out and make the new mortgage out of pocket.

Acres, lucky dawg

[Yetti]

the house was built over the course of a couple years I'm guessing. the builder owned it before he skiped to texas. as for the heating system the bank people had it up and running when I walked it the other day. the odd thing is the fact the main floor of the house is forced air with radiant in the 3 baths. the giant Byrant furnace has the boiler built right in the heating plenum. I was looking at the things like kitchen cabinets and they are nice. but the guys cheaped on counter tops as I think he was running out of cash while building. can you say "Formica"? everything else is top notch right down to the commercial size fridge(48" wide) the main thing its 4 bedrooms vs. the 3 we have now. as for Taxes its listed at $6,800 right now based on `06 tax rolls.

one odd question. the thing has trucks and trailers and equipment sitting around the barn. what does the law say about that when buying?

[Yetti]

Originally Posted by wpage

radiant floors can be problematic. If you get a leak you are in big trouble. If a freeze or poor workmanship in the install of the pipe in the concrete occured big bucks to fix.
Get a good inspection for leaks and quality construct if possible

Just an FYI I did the home builders inspection course a couple years back and just didn't take the time to get the licence. I have a couple buddys I asked about the system in the HVAC business and they said its great system if its done right. I figured some of you have them so I would ask the horse so to speak.