I know this may sound dumb, BUT: Buy FLOOD INSURANCE. Don't automatically think 'Oh, it never floods where I live' ... EVERY place floods - it's just a question of 'when' and 'how bad'. I've been flooded 2.5 times (once was a 'training' rain, not a hurricane). Flood insurance rates are based on the flood zone rating your property's in - your real estate agent will know the answer to that. If you think your homeowner's insurance will cover damage from flood, think again. It covers damages from 'rising water' - not from flood. I know - flooding IS rising water. Tell that to your homeowner's insurance company. You'll get nothing. Flood insurance is still amazingly cheap for the coverage. I just bought it again - even tho' I never thought I'd have to after leaving New Orleans. Watching the recent floods in Nashville and other parts of TN were enough to push me over the edge, and I'm now a proud new owner of another flood insurance policy. Do NOT rely on your HO1 policy to do what the NFIP policy does.

One other thing to consider: Drive the neighborhood on a RAINY day - notice water levels, direction of flow, how fast (or slow) the street is draining, where water pools, whether it flows toward or away from your proposed purchase ... y' won't ever find this out from neighbor interviews or from looking at a topo map. Drive it yourself - and bring a camera to take pictures.

Termites: Are they present? What TYPE are they? If they're Formosan termites, that's tough to treat for. Make sure your termite treatment contract has a REPAIR guarantee, not a 're-treat' guarantee. To be sure, a repair guarantee only goes into effect IF you suffer termite damage AFTER the company has treated your property - but hey, that's when you NEED it to go into effect. They're not gonna pay for any damage done before they've treated the place.

Everyone else has posted incredibly good suggestions. If you follow 'em, you'll prolly be happy and get a good deal. Only thing I'd do - and this is just personal - is hold off on the purchase and watch the market for an even better deal later. We haven't yet reached bottom in this market - and the second round is about to begin ...

Congratz L.

May I suggest a conditional offer(your house must sell first)? Yea sellers don't like it because it ties them down for a bit but you never know.

I know T.O is absurd in municipal evaluations... so chq your taxation... more land mean lots in taxes.

Oh and if you're going for a substantial mortgage... I believe a variable rate is best right now for the next year or two. EURO fears still linger and could get much much worse.

Canadian Banks must qualify you on 5 year rates(new regulations) so keep that in mind when applying.

Cheers & good luck

PS I know I'm a bit late on this reply but hope it helps

thanks. i think i'm putting mine on the market this weekend and hopefully that'll sell quick enough allow me to make any offers without the worry of having to still sell. i'd really like to close this summer. if not, and i make an offer, i'll make it on the condition of finance and inspection.

i found another hot spot with a pool (an above ground placed in the ground) and am going to take a look inside tomorrow night. taxes are running at about 4,000/year which isn't much more than my current home.

the mortgage won't be any more than the existing one now. i'd like to just port it over to the new house but because i'm already on a variable rate, those aren't portable and i'm not willing to lock in. so i might get zinged for a grand or so transferring it.

i'll have to look into my existing house insurance to see if it covers flooding (i believe it does). thanks, another good bit of advice

When my ex/bf & I bought "Batman's Ranch" up in Washington state, we had to replace the liner in the 20'x40' in-ground pool. At the time,(about 8 yrs. ago), we spent about $3,000 to replace liner and get it in usable condition again. It hadn't been used 5 yrs. prior to us moving in. It was so well worth the investment!