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ORIGINAL: LafayetteLady

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ORIGINAL: Iamsemisweet

Be sure and carefully review any private covenants that might affect the property. Subdivisions will often have additional rules and regulations that have to be followed. These can include things like no outside RV storage, or limits on the number of pets you can have, as well as a number of other things. If you are looking at rural property, find out if it is served by a private road and how responsibility for repair and maintenance is allocated and handled.

Good suggestion. Some of the houses are in "communities" I know since they list fees. I try and stay away from them. Even the rural areas around here are on public roads.

I like the idea of limiting pets and not having Sandford and Son for a neighbor! After spending four months in a house with 20 animals, I don't want neighbors with dogs, unless they are mute!

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ORIGINAL: LafayetteLady

I don't particiluarly believe in those "covenants" in those "communities." People telling you what color to paint your door, what you can have in your yard, blah blah. Most towns have regulations about how many pets a person can own. I know in Bayhead, NJ, they are limited to four dogs. Given the proximity of the houses there, it makes sense. With the other stuff, you end up paying a fee and get nothing for it. Unless of course you go the condo route. Then snow removal and law care are part of the fee.

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ORIGINAL: LafayetteLady

If I remember my real estate law correctly (which is highly questionable, only thing I hated more was corporate, lol), wouldn't the realtor make mention of any covenants or easements when showing the house?

Our two top picks, although in a rural area, are actually not far outside of town. One boasts that it is within walking distance to everything that town has to offer. We google earthed it and found a pancake house, a restaurant and a closed gas station!

We would love to find something with more land, and have found things in our price range, just not in our tax range.

I'm alternately excited and scared, often at the same time! It is making me crazy and I haven't even seen a single house in person yet. I look around "D's" house and think about what needs to be packed here and how to get him to throw shit out. My stuff is all packed and stored in three places in two different counties, which is a nightmare of its own, lol. On the bright side, when I unpack my things, it will be like it is all new again! I can't wait to find a place and sleep in my own bed again.

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ORIGINAL: LafayetteLady
If I remember my real estate law correctly (which is highly questionable, only thing I hated more was corporate, lol), wouldn't the realtor make mention of any covenants or easements when showing the house?

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ORIGINAL: LafayetteLady

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ORIGINAL: Iamsemisweet

If you are buying a house with a friend, make sure you have a written co tenancy or co ownership agreement with that person, discussing who is responsible for what, how your relative interests in the house are determined, and what the process for dispute resolution is if it all goes terribly wrong.  Make sure the agreement is done in accordance with the laws of your state.  Also, take into consideration what happens to the house if something happens to one of you, like one of you dies or is unable to hold up their end of the bargain.  Talk to a real estate lawyer in your state.
I know, I know, nothing will go wrong.  It is going to be just great.  But, you asked about things you should think about, and that is my answer, based on being involved in about three disputes between co owners in the last year.  Profitable (for me) but nasty.  

We have already discussed the tenency issues. Should either of us die, the other gets the house. He has no family and my son is the type that would try to take the house from him. I don't want that.

I know what you mean about when things go wrong. Been there with a family estate. That's one of the reasons we are looking for a house that has enough space. "D" does a lot of modeling (you know, like building scale cars and stuff) and he needs a space just for that, because it isn't going to dominate the living room like it does in his house now. The guy really doesn't have a mean bone in his body and should be more worried about what I might do, lol. In any case, we talked about it for quite a while and with my health, this is the best option for me since when I get sick (not even an "if" anymore), there is someone who will take care of me. (emphasis added)

With the market the way it is, the price point we are looking at with the down payment is going to give us a mortgage of maybe $500.00 a month (with taxes and insurance). He is on permanent disability, and I'm about to be, so the affordability will be relatively easy. That's why we have concluded that now is the best time to do this.

We are going to have to have a discussion about the fact that I'm putting the whole down payment in, and he is bringing the good credit, but until we find something, I'm not going to go there.

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ORIGINAL: tj444

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ORIGINAL: LafayetteLady
If I remember my real estate law correctly (which is highly questionable, only thing I hated more was corporate, lol), wouldn't the realtor make mention of any covenants or easements when showing the house?

Do not assume anything about realtors and what they should tell you (they may not know or have relied on wrong info). If something is important to you then contact the proper authority to verify, verify, verify (preferably in writing).

I had to sue a realtor for fraudulent misrepresentation so I learned that the hard way. If the realtor gives you incorrect info, it is you are putting out the money and mistakes can be very costly to you, lawsuits take time and also money to hire the lawyer with no guarantee you will win and recoup all of it. Its really just so much easier to do a little leg work and verify what is important to you.

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ORIGINAL: roscho
Yup... I too had to sue a realtor, which was a pain - I mean I'm already moving, trying to sell a house, trying to buy a house, now on top of that I have to sue my agent.

I got a pretty good attorney that went after his broker and it settled fairly quickly, but it took bandwidth out of my mind - and I have little to spare...

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ORIGINAL: Iamsemisweet

I have sued a few realtors in my day, too.
I do have to say though, I don't bash realtors like I used too. 6 years ago, any idiot who could afford the license was becoming either a realtor or a mortgage broker, especially in Oregon and Washington. The market was so white hot that anyone could make money. The bad ones are now gone, the housing crash weeded them out. The ones that are left are the ones who are really good at it, and know what they are doing. Otherwise, they would be out of business, like the losers. I also think having a realtor is essential if you are doing a short sale.

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ORIGINAL: Iamsemisweet
I have sued a few realtors in my day, too.
I do have to say though, I don't bash realtors like I used too. 6 years ago, any idiot who could afford the license was becoming either a realtor or a mortgage broker, especially in Oregon and Washington. The market was so white hot that anyone could make money. The bad ones are now gone, the housing crash weeded them out. The ones that are left are the ones who are really good at it, and know what they are doing. Otherwise, they would be out of business, like the losers. I also think having a realtor is essential if you are doing a short sale.

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ORIGINAL: roscho

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ORIGINAL: Iamsemisweet

I have sued a few realtors in my day, too.
I do have to say though, I don't bash realtors like I used too. 6 years ago, any idiot who could afford the license was becoming either a realtor or a mortgage broker, especially in Oregon and Washington. The market was so white hot that anyone could make money. The bad ones are now gone, the housing crash weeded them out. The ones that are left are the ones who are really good at it, and know what they are doing. Otherwise, they would be out of business, like the losers. I also think having a realtor is essential if you are doing a short sale.

To say that tougher times have weeded out the bad ones is nonsensical. Tough times most often weed out the good ones, that aren't willing to sell their soul.

EDIT - A realtor is essential if you are doing a short sale? OMG. A realtor can not help you in a short sale. A short sale is the worst RE decision that a person can make. The bank must be managed minute by minute to get one done, and even still it takes many months. Anybody that goes into a short sale relying on an agent to help you is severely misguided.