Purchasing a property is not a child’s play. It is a huge investment or in other words, a financial liability which means you need to investigate the property thoroughly before shaking hands with the seller.
There have been several instances where property buyers were either duped or paid a hefty price for a property that is not what it seemed. Asking the right questions is always the right thing to do. It is what companies associated with the real estate sector like www.chrisarnoldrealestate.com.au always ask their clients to follow religiously.
Asking a few investigative questions will allow you to find common ground between you and the seller. It will also allow you to make an informed decision when the property finally exchanges hands.
Anyway, without any further ado, let us dive straight into the topic and look at the top three questions that you should ask when buying a property.
Question #1 – Why is the seller selling the property in the first place?
When it comes to selling a property, the seller could have a lot of reasons. It can either be relocating to another city, personal reasons, scooping as much cash as one can to retire in style and many more.
If you are lucky enough to get the right answer from the seller, you will be able to make room for better negotiations about the price of the property.
Question #2 – For how long the property has been on the market?
It is best to remember that property would be staying for a long time in the market if the seller has put up a high price tag on the property. Mispricing a property is a common practice among inexperienced sellers. A poor pricing strategy could also be the result when a seller has decided to take the matter into their own hands instead of consulting with a real estate agent.
The longer a property stays in the market, the more negative publicity it will get since people will start to think that something is terribly wrong with the property, to begin with.
When you ask this question to the seller, you will be on the winning side of the bargain. Remember, a seller who has had a hard time selling their property will be ready to negotiate with the price of the property – get the idea?
Question #3 – What are included in the sales offer?
Always remember that all the things that are permanently attached to the property should naturally be included in the sales offer. For example – window blinds, faucets in the sink, the kitchen cabinets – you get the idea right?
If you are in doubt or simply want to avoid disappointment, in the end, it is best to ask the seller about the items that will be included in the sales offer. After doing so, make sure to get that in writing from the seller along with a signature.
Apart from asking the questions mentioned in the above sections, always make sure that you are also paying attention to the marketing as well as listing content about the property online. You can also get in touch with the seller over the phone or via email. If that is not possible, you can always gather as much information as you can about the property through your real estate agent.