New York First Time Home Buyers Story

by Vince
(White Plains, NY)

New York is a different animal when it comes to closing on a home. We use attorneys here for the closing, which is called 'escrow' in other parts of the country.

My story involves a lesson. That lesson is to learn as much about homes as possible before buying, and I mean that from a physical inspection standpoint.

I went along with the engineer for the home inspection. First mistake: going with an engineer recommended by the realtor.

However, I know about houses. I noticed a strange line in the basement. The engineer said he could barely notice it, and that in any event it was nothing to worry about.

The line was a horizontal line about 4 feet from the floor. It went around the whole basement.

My bells went off. To me, this had to be a sign of a flood. The engineer said no, not to worry, they weren't close to a flood zone, but I was persistent.

By the way, this was one of the nicest houses we'd looked at. The kitchen was flawless, with a really great gas range, all new appliances, and one of the best refrigerators you could ever imagine. My wife loved it.

Well, to make a long story short, I asked around before making a bid. I talked to the neighbor, and sure enough, there was a flood there-and it had in fact flooded many times.

So, if you see a ring around the basement that matches the ring around the tub, think twice!