[ltcpda]

We're prepared to make an offer on a home. We live about 1,000 miles away and believe we can make a contingent offer subject to our approval when we arrive at the home. That said, can anyone offer us advice on the procedure for both the inspection process and an attorney review of the contract prior to purchase? Can you recommend an attorney?
Thanks very much.

[festusrules]

If you are buying a new home my experience in 2010 was that TV makes no exceptions regarding their contract language. I wanted to make several changes but was told that was not possible. Bought anyway and very happy I did. They handled the few minor warranty issues and no problems since.

[redwitch]

If you're buying pre-owned, definitely get a home inspection (preferably one of your choosing, not one recommended by TV or your realtor). Do a search and you'll find the names of several highly recommended home inspectors.

McLin & Burnsed and The Millhorn Law Firm both seem to know what they are doing when it comes to home purchases. If purchasing a new home, save your nickel -- nothing will be changed regardless of what you want. Also, if a new home, have a thorough home inspection about 6 weeks before your first year is up so that all defects that you haven't noticed can be repaired before your one-year home warranty ends.

[rubicon]

So if I buy a new home have it inspected and find obvious defects in product workmanship etc I cannot do anything about it so a home inspection prior to closing, even though I already have a 20% down payment as it will be a waste of time but it isn't after I live in it for up to about a year and then my complaints will be addressed???????????????????????????? Perhaps I misunderstand some distinction?

[redwitch]

Originally Posted by rubicon

So if I buy a new home have it inspected and find obvious defects in product workmanship etc I cannot do anything about it so a home inspection prior to closing, even though I already have a 20% down payment as it will be a waste of time but it isn't after I live in it for up to about a year and then my complaints will be addressed???????????????????????????? Perhaps I misunderstand some distinction?

You can do a home inspection whenever you want but most of us do it at the end of the first year, not prior to closing, in a new home. TV is very good about addressing almost any issue there might be in a new home. However, there are some things that just won't show up until a house has settled (cracks, defective concrete, etc.).

TV is very good about repairing anything the minute you find it. That way, things you notice immediately will be fixed; things you notice as time passes will be corrected; and things you might not see will be fixed before the year is up.

On a pre-owned home, who knows what all a homeowner has done and whether those things are up to code. Also, a home inspection before closing may find issues with old appliances, etc. In a new home, there are warranties to take care of any problems for at least the first year.

Whether you have a home inspection prior to closing, I'd still recommend having one before the first year is up on a new home.

[ggomba1]

I've had minor issues with my new home and called the warranty dept. And those issues were taken care of in a timely manner. I've also made an appointment with a home inspector 6 weeks prior to my one year anniversary to take care of any other issues before the one year warranty. I've been very satisfied.

[Phanatic Luvr]

I'm curious, if you make an offer continent upon your approval after you see the home, exactly how long will that be? A week, a month? If I were a seller, there would be no way I would accept such an offer, knowing how quick homes sell in this area. The reason being, that contingency clause could hurt the seller in the end. He may have been able to sell it 10x over in the time it took you to get here and decide it was not the home for you.
If such a clause is inserted into a contract, there needs to be definite parameters. For example, how long the buyer has to come and look at the home (ex...5 days), or the seller is permitted to continue to show his home and if another offer comes in before you arrive, you have the option to delete your contingency and purchase the home OR loose it to the other person making an offer. All the details would need to be put in the original contract and accepted by both parties.
I am assuming you both are not using a Realtor, as your agents should be able to direct you to find out the answers to your questions in a professional manner.
In as far as home inspectors names and contact info, I would suggest either of the following:
Frank D'Angelo of D'Angelo Inspections (352) 250-7818 or
Tom Comer of Comer Home Inspections (352) 323-5715
They seem to both be very good and efficient, however, with all the homeowners requesting their 1 year inspections to be done, expect a delay in getting an appt. I have heard they could be backed up possibly 4 to 6 weeks.
In as far as an attorney, McLin & Burnsed is in TV's. They do real estate transactions but have never used them. Their # is (352) 753-4690.
Also, don't forget to get Title Insurance. Here in FL it is negotiable who pays for it but is usually the sellers responsibility.
Good luck!!!!

[ltcpda]

Yes, I do have a realtor but was in need of some clarification. I can make an offer and the seller certainly can continue to show the home to others. If the seller accepts my offer, which hopefully is the first offer, then I have the first opportunity to purchase. There can be negotiation if my offer is accepted. Hopefully, we will have found a home here. Thanks for your response.

[villager]

If you choose to use McLin and Burnsed, while good attorneys, are very tied to the developer. Using a different attorney might be a good idea.

[Jsling]

Originally Posted by Phanatic Luvr

I'm curious, if you make an offer continent upon your approval after you see the home, exactly how long will that be? A week, a month? If I were a seller, there would be no way I would accept such an offer, knowing how quick homes sell in this area. The reason being, that contingency clause could hurt the seller in the end. He may have been able to sell it 10x over in the time it took you to get here and decide it was not the home for you.
If such a clause is inserted into a contract, there needs to be definite parameters. For example, how long the buyer has to come and look at the home (ex...5 days), or the seller is permitted to continue to show his home and if another offer comes in before you arrive, you have the option to delete your contingency and purchase the home OR loose it to the other person making an offer. All the details would need to be put in the original contract and accepted by both parties.
I am assuming you both are not using a Realtor, as your agents should be able to direct you to find out the answers to your questions in a professional manner.
In as far as home inspectors names and contact info, I would suggest either of the following:
Frank D'Angelo of D'Angelo Inspections (352) 250-7818 or
Tom Comer of Comer Home Inspections (352) 323-5715
They seem to both be very good and efficient, however, with all the homeowners requesting their 1 year inspections to be done, expect a delay in getting an appt. I have heard they could be backed up possibly 4 to 6 weeks.
In as far as an attorney, McLin & Burnsed is in TV's. They do real estate transactions but have never used them. Their # is (352) 753-4690.
Also, don't forget to get Title Insurance. Here in FL it is negotiable who pays for it but is usually the sellers responsibility.
Good luck!!!!

Having just sold my home and bought a preowned courtyard, I have to agree with you.
My designer sold in 11 days of putting it up for sale. That is how fast homes sell. So, putting that type of contingency will not make the seller happy.
That being said, if it's sold by The Villages Realty, you will be working with Maclin and Burnsed to close, but it's not a big deal. They do so many closings, they can do it with their eyes closed.