4 Must-Ask Questions When Viewing or Buying a House
When you are buying a house, don't just go accepting everything you are told. Buying a house is a huge investment that might take years before payment completion. Additionally, even though the house might range in your budget, you need to know the background information before making your final decision. Some houses often seem cheap, but you spend huge amounts on maintenance and repairs. Asking questions is critical to understand your house's features, risks and design.
If you are looking for a house, consider checking new display homes in Cranbourne and other houses listed to identify the one you are interested in. You can also lower the house price by highlighting some key things, such as defaults and repairs. This article outlines key questions you should ask when viewing or buying a house.
Why is The Owner Selling?
After viewing the house, it's important to inquire why the owner is selling. If the real estate agent is kind enough, they will hint to you, which can play a great part when negotiating the price. For example, the owner might face an emergency that requires money fast, making them desperate for the offers they get. In addition, knowing can help you evade some risks, such as the Property's court cases.
What is the minimum price for the house?
Most times, we buyers assume this question and later find out that the seller could lower the price significantly. Most sellers will quote a high price to give the buyer room to negotiate. The real estate agent can also know the minimum amount the seller can accept. If the agent fails to sell, they will not get anything; they will accept even the lowest price.
How long has the Property been on the market?
When the house you are admiring has been on the market for a long time, it might mean it has a default which you don't know about. It's important to consult the estate agent to know why it's not selling. You should ask if they have been anyone who put in an offer and why they decided to pull out. Sometimes there might not be any problem with you might find out the price was exaggerated. Irrespective of the issue, the seller would accept a lower price if the Property has been in the market for a long time.
Has the Property repeatedly changed hands?
Before buying a property, it's important to know its history. If the last owner did not stay for long before moving out and the former owners did the same, you should be alert. When a property has frequently changed hands, it might mean there is a problem, and you should avoid it. When buying a house, it's sometimes hard to tell the fault of it un till you stay. In the case people buy but stay for a short time means there is an unseen problem that comes to light when you are living. You can ask previous owners and try to consult about the issue.
The question above is critical when viewing buying land. Ensure you gather all the information you can about the house and the previous owner. Don't rush to buy until you are sure all your questions are answered.