October 4, 2021 –
Today I had the inspection on my potential new property in Somerset. Happy to say that nothing major was found. I am moving ahead!
Oh, there was a smattering of minor, ongoing-maintenance type things. There were 5 or so wire splices in the basement that were not closed off in a junction box. There are just a few hairline, stair-step cracks in the cement block foundation. I’ll need to seal them to keep water from seeping in. The vinyl on the basement floor is cracked near the drain. The deck – which looks really new – needs to be stained.
It’s always interesting to see into the nooks and crannies of someone else’s home. One thing strange was that the light fixture/exhaust fan in the bathroom was gone. It was just a hole – leading up into a perfectly good pipe that exited out of the soffit. Rather than install an exhaust fan there, the homeowner has cut off the top 3 inches of the bathroom door for steam from the shower to escape. ??? Why? I made my inspector crawl all over the attic to see if there was some reason an exhaust fan would not work there, and he could not find any problem. A real head scratcher for us both. Any of you folks got any ideas?
Only one major issue surfaced. The inspector did find a gas leak near the hot water heater. He had some type of gas-detection-thingy tool – anyone know the technical term for that? – that lit up like crazy when he held it near the pipe. I will ask for that to be remedied, and to have it tested again by a plumber before I close.
It was such a joy to walk through a very well kept house that is only 30 years old. Everything in the basement was so straightforward – no knob-and-tube wiring, no old pipes for coal burning stoves, no asbestos insulation falling in our faces (all things I have lived with in both of my previous houses). The hot water heater is from 2015, and the furnace and AC are from 2019. And did I mention the house is on county water – installed only 3 years ago – and there is a whole house generator too? The electric panel has 200 amps – plenty of power – and the machine shed has its own 100 amp panel. More electricity than I am ever going to need.
Well, there is a downside to everything: the old bank barn has some problems. There has been some serious termite damage in there over the years. Many of the posts, and some of the rafters, are quite rotted. My inspector recommended I get a structural engineer in there before I put anything heavy on the floor of the mow. I can only imagine how much a structural engineer charges per hour….. So I just don’t know how useful that building will be for me for livestock. Or, how much it might cost to get it fixed. I suppose I could keep livestock in the lower part of the barn, and just not put anything heavy above them. Then, I just have to cross my fingers and hope the building doesn’t fall down on top of my sheep in a storm. ??? I will insure my sheep, but will insurance pay out if my animals die in a rotted out building? Decisions, decisions. The good thing is that I have time before I have to put any animals there, so there is a lot of time to think about different options.
I did find a guy who restores old barns from the Friends of Ohio’s Barns website. Gabe and I are going to meet him there this Saturday and he will inspect the barn. I will be curious to see what he thinks.
The overall conclusion is, nothing came up at this inspection that will stop me. I am moving ahead – unless for some reason the seller refuses to fix the gas leak in their basement, which I can’t imagine any sane homeowner refusing to do.
Next step #1: Shop for a mortgage. I have one loan estimate from Rural 1st, but I really need to do my due diligence and get at least two other estimates. There are so many details to consider: how the interest rate interacts with the points, how closing costs are calculated, do I need title insurance? I have to read each offer very carefully.
Next step #2: Get property insurance. I have to think about what all I need to insure: the house and the machine shed, of course: what about the fences? The old bank barn? The wells? I have already checked the FEMA maps and there are no structures in a flood zone, so I know I don’t need flood insurance. Eventually I’ll also need insurance for equipment and livestock, too. I can even get revenue insurance from the USDA. I really doubt that my current insurance company – Progressive – is best poised to handle all this. If I ever sell products directly I’ll need food safety liability insurance, and property liability insurance if I ever have customers on the farm. Aack! OK, Julie, one step at a time. House and machine shed now; the rest can be added later. I’m sure Progressive can cover the house and the machine shed; maybe I should just go with them for now, and shop around for fence and barn insurance later.
Signing off for now — stay tuned for future adventures in farmland purchasing!
The Tranquility Ranch 