The questions you ask your property sales agent during a purchase could make the difference between buying your dream home and buying a dud. There’s so much you want to find out about your new residence, and the real estate professional is legally bound to tell you the truth.
But you don’t want to make this encounter an interrogation. Is there a way to cut the fuss and get all the essential details? Certainly!
Not all of the agent’s responses will be pleasant. Some might make you want to rethink your bid. But that’s the brighter side of it. It saves you the trouble of having to go all the way with the purchase only to meet a significant disparity.
Asking questions should make you feel confident that you’re making the right pick in the property market. And it might save you a fortune too.
So, without further ado, here are three questions you must ask your property sales agent.
1. What’s the Owner’s Reason for Selling the Property?
This could be the million-dollar question. In most cases, the owner really wants to get rid of the property and this might often let them mask the real problems it may have.
However, a property that’s up for sale does not always have to be plagued with complications. The seller could be relocating to some other region, state or even country. The reasons for relocation could just be as diverse as the reasons for wanting to sell the property – job transfer, business, family issues, you name it.
And depending on the circumstances, luck might be on your side. Suppose the owner is desperate to sell because of a job transfer, they may be willing to accept a lower price and you could land an awesome deal.
Nonetheless, you won’t know about this unless you ask. Take the direct approach and ask if there’s any problem with the house. A good seller will avoid wasting your time and disclose all the details you need to know. Besides, inspections and disclosures will most likely always show you any problems that may exist. And if they’ve already done an inspection prior to putting the property in the market, always ask to read through the report.
2. How Long Has the Property Been on the Market?
In most cases, a good house with the right pricing does not stay far too long in the market. If a property stays for more than three months, with a lot of showings and no offers, it’s more evidence of an issue.
Be upfront and ask the agent why the house isn’t selling. You won’t expect them to give you a direct answer. Even if they have it, the basic approach would be to polish it up a little, unless the reason is genuinely a good one. You’ll get the message nonetheless.
A house may stay long because it’s overpriced, or other people have realized a complication that you are yet to find out.
Sometimes a house may languish for months simply because it’s a slow market. Whatever the case, if it’s something you are willing to go with, the circumstances might be in your favor. In the case of a slow market for instance, the seller is highly likely to accept a lower price.
3. What Exactly is Included in the Sale?
A house may come along with extras such as a garden shed or something else. It pays to be sure if the price includes fixtures and fittings or any other additions. Where exactly does the boundary lie?
The point is to find out or see exactly what you are getting from the deal. These inclusions may mean a great difference between a good deal and a great one.
And when you’re still on the fence, the items included in the price of the house may be the key differentiator.
The bottom line is, you must ask a handful of questions before signing the dotted line to help you make a better decision.