A home is typically the largest single investment you’ll ever make, By the time you’re ready to buy, you’ll already know a lot about the house. However, it’s a good idea to do a little more detective work and get answers to a few investigative questions. It will give you additional peace of mind in your purchase.
Here are the 8 investigative questions to ask;
1. Why Are You Selling?
There are many reasons why people move, while you may not always get a truthful answer, asking why the seller is moving can be helpful in determining how much room there is for negotiating. Depending on the reason for moving.
2. Length of Time on Market
One of the primary reasons a house ends up staying on the market a long time is that it was priced too high to begin with. The longer a house stays on the market, the harder it becomes to sell since the listing becomes “stale,” and buyers think there must be something inherently wrong with the property. If the home has been on the market for a long time, the seller may be motivated and more willing to negotiate.
3. Previous Selling Prices
Knowing how much the seller paid is helpful for a couple of reasons. First, it tells you if values in the local market have gone up or down since the seller purchased the home. Second, it may help you determine how open the sellers may be to negotiation.
4. What Is Included in the Sale?
Anything that is permanently attached to the home is considered a fixture and is generally included in a home sale, but sometimes an item can fall into a gray area. When in doubt, and to avoid disappointment, ask what’s included in the sale. Pay close attention to items that you would be upset to find missing if you moved into the home.
5. Area or neighbors problem
Neighborhoods can be affected by any number of issues including, traffic congestion, noise (from traffic, neighbors, barking dogs, and/or nearby businesses), poor maintenance, and neighbors who cause disturbances. While you may not get a particularly detailed answer, it’s a good idea to at least try to find out about any problems before going through with a purchase.
6. Natural Hazards
It can be helpful to ask: Are there any potential hassles with this house? You might find out about problems ahead of time and be able to negotiate repair costs. Of course, you should still get a comprehensive inspection before buying the house since there might be issues the seller doesn’t know about or won’t willingly share.
7. Past Problem Conditions
home sellers generally must tell you about any current problems with the property but they don’t have to tell you about any past problems that have been corrected. If it’s already fixed, why is it important to know? Because it might lead to another problem in the future. It’s also helpful to find out who did the work in case there is a similar problem in the future.
8. Age Of Components
Ask about the age and condition of key components of the house so you are prepared for any big expenses you could be facing. Start with the roof, also ask about the heating and cooling systems, appliances, water heater, septic, plumbing, and electrical systems.
The Bottom Line
Listing and marketing materials include lots of details about a house (the number of bedrooms and baths, and the square footage, for example) and the showing lets you see it . But try to get some of these questions answered through your real estate agent it will help you learn exactly what you could be getting into.
Chady Melhem | Property Consultant
Call me for any advice you may need!