There’s a lot at stake when buying a house, and you need to make sure you not only do your own research but that you also ask your estate agent the right questions. Viewing what could potentially be your new home can be exciting, and it’s easy to forget to the all-important questions.
We’ve put together a handy list of some of the things you need to ask – these questions could be the difference between securing your perfect property and any nasty surprises down the line!
Why is the property on the market?
Whilst you may not get an answer to the question, you may get a hint of the circumstances, i.e. the owner is looking for a quick sell, and so, therefore, could potentially accept a lower price, or, issues with neighbours.
When do the sellers have to move out of the property?
If the sellers have found their new home, they will be looking to speed the process up and complete the chain, and minimise the risk of their purchase falling through. This could work towards your advantage, as they may be willing to consider a lower offer.
What is included in the sale?
By asking this, you’ll get a full picture of what you’re getting for your money. You could find you’re saving some money, or that you need to add some additional costs to your budget.
Has the property had any major building work recently?
You should have a full structural survey on a property you want to buy, but it’s also worthwhile finding if any building works were carried out recently and if so, what were the reasons behind this.
How long has the property been on the market?
If the property has been on the market for a while, i.e. more than three months, then you should ask why. For example, the property may be overpriced. If the property has been on the market for a while, it could work in your favour in terms of negotiating the price down.
Is the property part of a chain?
Once you find this out, and where the property is in the chain, you could find out the motivations of the seller, and how long the process could take. If the property is already part of a chain, your seller could be willing to accept a lower offer to speed the process up. But if the property isn’t part of a chain already, you could be facing a lengthy process towards completion.
Looking to buy a property? Give our team a call today on 020 7078 0214, or send an email to firstname.lastname@example.org, and we’ll get right back to you.