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Finally, you decided to buy a new property. The next step ahead is contacting a property agent. Now, you've met an agent, and it's time to go check out available properties.
But then, you want to ensure you get a property that matches your desire and will not cause you any trouble in the future.
Working with property agents removes a lot of difficulty from the property search process and lets you learn the difference.
However, it's essential to ask the right questions before buying any property when working with an agent. Below are questions you should ask your agent when viewing a property and before you make an offer or begin price negotiation.
When the owner of a property decides to sell their property, there is a reason for such action. As an intending buyer, it's essential to ask why the owner wants to sell the property?
The estate agent might not have the most accurate answer but can hint at some important reasons which would better guide your buying decision.
More so, this question will prevent you from missing out on some negative factors that could cause problems down the line.
The environment in your neighbourhood matters a lot. Would you like to have your property in a calm vicinity? Then buying one in a community characterised by loud noises and boisterous activities may not be a good decision.
So, ask everything about your neighbourhood which you consider influential. How are the schools? How good is the transport system? Beyond asking the agent, make sure you do your research as well.
Properties are worth different amounts. However, knowing the worth of the property you want to buy will help you gauge its affordability and serve as a comparison for similar neighbourhoods.
That way, you get to see how much your properties are worth compared to others and if the price you're offered is within an appropriate range.
It's worth asking your property agent what the price of the property covers. Is the environment around the property included in the sale?
The gardens, barns, stalls, or any other extensions? Ensure you see what's included in your deal and know your boundary, that is, what's not included in the offer.
Listed property is placed on a national register of buildings with historical or architectural importance to protect and maintain them for future generations.
Such property is protected by law meaning the buyer will need listed building consent before making any internal or external changes.
If you buy a listed property and fail to get a listed building consent before you start renovations, your actions will be considered a criminal offence. So, do well to ask your agent if the property on sale is listed or not.
It'd help if you asked your agent why the property hasn't been bought yet, especially if it's been in the market for a few months.
Could there be a problem with the commodity? Are there issues previous prospective buyers discovered which you haven't figured out yet? Or could the property be overpriced? Whatever the reasons are, you must be aware of them.
While this might seem like a trivial question to ask, you must get the exact amounts. Ensure your agent supplies this information in the case where they can't try talking directly to the seller.
Taxes and utility bills are recurrent expenses that add to the cost of owning and keeping a property. Being aware of the fees can save you from the unpleasant consequences of tax failure and the inability to pay bills.
Legally, the seller of a property should reveal problems with the property. It'd be best if you asked your agent to get a better and more comprehensive overview of the state of the property and everything in it.
Properties come with asking prices that sometimes appear to be fixed. But then, you should not be afraid to ask whether or not the owner would be willing to negotiate over the asking price and consider a different offer.
You never can tell when an owner is ready to take a price lower than their asking price.
Ask your agent for any possible developmental plans around the neighbourhood that could affect your property or preference. If there are any, you might want to reconsider your buying decision.
Buying a property is a big deal and can sometimes be an emotional rollercoaster. Legally, estate agents are bound to tell the truth, so do not hesitate to ask the right questions, such as those listed in this article.
The right questions may be the difference between buying a property that serves your right and one that brings regret.