Author Topic: new house has a what???  (Read 3293 times)

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Offline harleyh77

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new house has a what???
« on: June 19, 2013, 08:14:03 AM »
My wife and I are buying a house. 3 bdrm, finished basement, 2 car garage, fenced back yard and the coolest feature.....ready for this.....a cold war era bomb shelter! How cool is that! But a condition of the sale price i have to seal the shelter up. Its dark and musty and the owner says there is just no reason to have a room like that anymore.
"An armed society is a polite society. Manners are good when one may have to back up his acts with his life" -Robert A. Heinlein

Offline linux203

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Re: new house has a what???
« Reply #1 on: June 19, 2013, 08:24:21 AM »
His property rights end when the deed is transferred.  Just sayin'   ;)  The property isn't governed by a homeowner's association is it?
When a strong man, fully armed, guards his own palace, his goods are in peace. Luke 11:21

Then He said to them, “But now, he who has a money bag, let him take it, and likewise a knapsack; and he who has no sword, let him sell his garment and buy one."  Luke 22:36

Offline harleyh77

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Re: new house has a what???
« Reply #2 on: June 19, 2013, 08:47:20 AM »
No association, we are buying on land contract. Dont know if that matters. It may get light, weak weld around the door so i can grind it off later.  ;D
"An armed society is a polite society. Manners are good when one may have to back up his acts with his life" -Robert A. Heinlein

Offline jgillmanjr

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Re: new house has a what???
« Reply #3 on: June 19, 2013, 09:24:07 AM »
Define "sealed" ;)
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Offline gryphon

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Re: new house has a what???
« Reply #4 on: June 19, 2013, 09:57:04 AM »
Interest rates are so cheap you should lock in a mortgage now.  As you probably know, the original owner still owns the house on a land contract.

Offline Hammurabi

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Re: new house has a what???
« Reply #5 on: June 19, 2013, 10:32:56 AM »
No association, we are buying on land contract. Dont know if that matters. It may get light, weak weld around the door so i can grind it off later.  ;D
Sounds good to me. Close it up and make him happy, then do what you want once his interest ends.

Offline Justice

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Re: new house has a what???
« Reply #6 on: July 02, 2013, 06:16:23 AM »
My wife and I are buying a house. 3 bdrm, finished basement, 2 car garage, fenced back yard and the coolest feature.....ready for this.....a cold war era bomb shelter! How cool is that! But a condition of the sale price i have to seal the shelter up. Its dark and musty and the owner says there is just no reason to have a room like that anymore.

Tell the owner to kiss your *ss and take the sale or leave it.

Offline harleyh77

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Re: new house has a what???
« Reply #7 on: July 05, 2013, 08:40:04 AM »
Tell the owner to kiss your *ss and take the sale or leave it.

Lol, yup! Closed on the house July 3 and the shelter is saved. Got a 13 yr land contract at 7%, paying less than I was for rent. If I continue to pay amount equal to the rent it will be paid off just under 11 years. I'm feeling pretty excited about it.
"An armed society is a polite society. Manners are good when one may have to back up his acts with his life" -Robert A. Heinlein

Offline gryphon

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Re: new house has a what???
« Reply #8 on: July 05, 2013, 09:50:37 AM »
Do you ever plan on getting a traditional mortgage or just keeping the land contract for the full term?  Remember, original owner still owns the house.  If he gets sued for any reason they could come after his assets, including the (your) house.  That's just one example.

Not trying to rain on your parade, just pointing out some pitfalls of land contracts.

Offline harleyh77

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Re: new house has a what???
« Reply #9 on: July 05, 2013, 04:47:55 PM »
Do you ever plan on getting a traditional mortgage or just keeping the land contract for the full term?  Remember, original owner still owns the house.  If he gets sued for any reason they could come after his assets, including the (your) house.  That's just one example.

Not trying to rain on your parade, just pointing out some pitfalls of land contracts.

I can qualify for a mortgage in 2.5 years. I had a foreclosure :(  I plan to keep working on fixing the credit and get out of the lc. Still plan on paying this place off quickly.
"An armed society is a polite society. Manners are good when one may have to back up his acts with his life" -Robert A. Heinlein

Offline ocdetroit

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Re: new house has a what???
« Reply #10 on: July 05, 2013, 10:29:16 PM »
  That sounds like you have your head on right, good like. Carry On.  8).
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Offline JaccFrost

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Re: new house has a what???
« Reply #11 on: July 12, 2013, 01:57:26 AM »
Not to be intrusive, but got any pictures of that shelter? Idk why, but that is sweet! I always tell my wife to be (fiancee) that I want to build an underground house and the only above ground structure would be a pole barn with  hidden stairs and elevator to the home...a dream I must say!
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Offline harleyh77

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Re: new house has a what???
« Reply #12 on: July 13, 2013, 05:51:04 PM »
Not to be intrusive, but got any pictures of that shelter? Idk why, but that is sweet! I always tell my wife to be (fiancee) that I want to build an underground house and the only above ground structure would be a pole barn with  hidden stairs and elevator to the home...a dream I must say!

Sorry no pics of the shelter, tbh just haven't thought about it. There is a big steel door hidden in the shaddows of the basement. The door opens into the basement, opening quickly narrows, steps angle back away from the back wall of the house then turn back a little more and a few more steps. About 8 big steps down. The ceiling seems to be even with the basement floor. I've been told the room has 5 foot thick steel reenforced concrete walls and ceiling. Has 2 lights, 4 outlets, 40 gal water tank and a place for a sink/toilet. Walls are white. It might be 120 sq feet with 8 ft ceiling. I'll try to get some pics.
"An armed society is a polite society. Manners are good when one may have to back up his acts with his life" -Robert A. Heinlein