If you are in the market to buy a house of your own, here are ten questions to ask the property agent to give you a good understanding of the property you are dealing with and a bit of insight on how you should bid.
Why Do They Want To Go?
The first question you should ask the property agent why the seller wants to move out of the house in the first place. There is no knowing whether you are being given an honest answer or not and often times the property agent will not even know anyway. You may end up getting lucky and finding out exactly why no one wants to live there, including you.
How Much Did The Seller Pay For The Home?
Another good question to ask is how much the seller actually paid for the home. This bit of information is public information and can help you in your later negotiations. If you know that the house got bought a long time ago for a small amount of money, you can assume that the seller has a great deal to make out of selling it and bargain with them a little longer.
How Much Does The Seller Still Owe?
How much the seller still owes on the home is another bit of public record information that can help you when negotiating as well. If the seller of the home has a large amount of equity, you can use that against them to try to bring down the price. Use any leverage you can get to make the price go down.
How Did The Seller Decide on a Price?
When you ask a property agent about how the seller ended up deciding on the price, they should offer you a comparative market analysis. This shows you what recent sales in similar homes have went for. Armed with that information, you will see just how the seller came up with the figures for their house.
Are There Any Bad Neighbors?
Asking about neighbors that may cause you problems in the future is another good idea. The neighborhoods crime rate is good statistic to know. Check the local property news to get a feel of what the community is like. Finding out how the reputation of the school nearest to you is important if you have children. With a good school reputation, the value of the neighborhood goes up.
What Do You Like and Dislike?
Finally, asking about what the property agent about what they, personally, like and do not like about the home might give you some insight.
By gaining knowledge through these conversations, you will move forward with confidence, and make the right choice.