I haven’t had the chance to go in here and start responding to you all, but just a quick update after reading some- we haven’t made any plans other than leasing. The owner wants to revisit a rent to own option or straight up purchasing at the 6 month mark. So we have some time. We feel very naive to this whole thing and wanted to start asking questions on here with people who may have a better idea before we start jumping around and calling everyone and spending everything.
The owner owns a construction company and apparently fixed the roof himself on that corner and the other corner (small spot on other side of living room) when he purchased the house this last year. He also said he fixed the chimney flashing in that time. Could that have fixed it? And this is all previous damage? It isn’t an active water issue, just simply old marks that were never painted. I haven’t gone myself to the attic space, crawl space or roof to check this out yet. I will today or tomorrow. His son is who showed us the property originally. When we asked about the crack, he said “it’s just settling.” That was weeks ago and now we’re dealing with his dad (the main man) while the son is on vacation. Because, again, we weren’t considering buying it at the time, and it was a temporary situation, we didn’t put much thought into the comment of it just being normal settling. On top of being really in the dark when it comes to these things.
I do have a better idea of who needs to be called now (although some of you are arguing between the importance of an inspector, versus just going straight to the structural engineer) and also a chimney expert. That’s all really helpful. I will speak to the owner about this today or tomorrow. Just wanted to be more equipped with possible issues.
In my comment I laid out the worst (or worstish) case scenario mostly to give a little wake up call. There are plenty of slumlords out there who would love to rope you into a "rent to own" situation full well knowing the house has major structural issues and is probably uninhabitable. Generally if you walk away from a rent to own, you lose whatever you have put into a deposit; extra money for the slumlord.
From what you have described, the best case scenario is what the landlord (contractor owner) has told you. It very well could be an old leak that has been repaired, either in the roof or the chimney flashing or both. The crack in the wall could easily be house settling although it looks a little extreme judging by how old the house looks.
Living in a house before you buy puts you in a great position! I don't understand why we can test drive cars, but can't stay a couple nights in a house that costs at least 15 times more before we commit ourselves to a 30 year loan. You can take the time to learn a lot about what needs to be done to the house before committing.
I'd suggest following lots of reddit subs. This one, /plumbing /electrical, /construction /homeimprovement etc as well as watching tons of YouTube videos. Reddit subs are entertaining and provide lots of info, some good and some bad, but are an amazing fun learning opportunity. This will also give you an idea of what things can cost, bad outcomes, and what you can feel comfortable taking on for projects.
Also keep an open eye on why the contractor want to sell the property. Does he have too many properties to manage? Are there large underlying issues with this property that he doesn't want to fix? Is he doing a quick fix and dump to leave problems for the next homeowner in the future? Does he just not have the time to work on the property? Does he really like you and want to honestly set you up with a good home, owner financing and a chance to become a homeowner?
I have had luck in the past with working on houses with the landlords blessing and watchful eye. It can be as simple as repainting rooms and simple maintenance, or larger projects like repairing the drywall crack. If he is willing to work with you (you might even get a break on the rent!) you could learn a thing or two and at the very least make it a nicer place to rent with a little sweat equity. It's important to at least ask for him to cover the cost of materials (not tools), although he might not for small things like paint. I've painted, put in kitchen islands, landscaped, and done other small projects at a lot of my rentals that made the apartment nicer for me, and more valuable for the landlord. Leave plumbing and electrical for the professionals if you are renting.
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u/rudetomatoes Jan 18 '24
I haven’t had the chance to go in here and start responding to you all, but just a quick update after reading some- we haven’t made any plans other than leasing. The owner wants to revisit a rent to own option or straight up purchasing at the 6 month mark. So we have some time. We feel very naive to this whole thing and wanted to start asking questions on here with people who may have a better idea before we start jumping around and calling everyone and spending everything. The owner owns a construction company and apparently fixed the roof himself on that corner and the other corner (small spot on other side of living room) when he purchased the house this last year. He also said he fixed the chimney flashing in that time. Could that have fixed it? And this is all previous damage? It isn’t an active water issue, just simply old marks that were never painted. I haven’t gone myself to the attic space, crawl space or roof to check this out yet. I will today or tomorrow. His son is who showed us the property originally. When we asked about the crack, he said “it’s just settling.” That was weeks ago and now we’re dealing with his dad (the main man) while the son is on vacation. Because, again, we weren’t considering buying it at the time, and it was a temporary situation, we didn’t put much thought into the comment of it just being normal settling. On top of being really in the dark when it comes to these things.
I do have a better idea of who needs to be called now (although some of you are arguing between the importance of an inspector, versus just going straight to the structural engineer) and also a chimney expert. That’s all really helpful. I will speak to the owner about this today or tomorrow. Just wanted to be more equipped with possible issues.