5 Probing Questions You Should Always Ask Sellers
Buying property is a big deal. The sums of money involved are often enormous, and the amount of time you have to dedicate to transactions is significant. Therefore, it’s a good idea to know where you stand.
In this post, we run through some probing questions you should always ask during any real estate transaction. Check them out below.
What Do You Like About Your Property The Most?
While this question might sound quite personal, it’s a great way of learning more about what a seller really celebrates about their property. You often find out all sorts of interesting things about it that inform your decision about whether to buy or not.
What Repairs And Renovations Do I Need To Carry Out?
A property might seem well put together or reasonably priced on the surface, but when you dig a little deeper, you may discover that it is in a poor state of disrepair and requires a lot of work. Poor plumbing, mediocre construction techniques, and bad planning can all leave you with large bills to pay over the lifetime of the property.
Ask the seller to provide you with information about any structural additions or alterations they have made. Have they, for instance, moved any electrical outlets or replaced the HVAC system, adding new ducting? Have they installed a new roof or shored up the foundations?
Is The Title Valid?
Sellers will sometimes attempt to sell properties without valid titles, either inadvertently, or deliberately. Buying a property with an invalid title can lead to all sorts of trouble, including confiscation and a loss of your entire investment.
Once the seller produces the title, always get a real estate attorney to check it over. Make sure that there are no issues or mistakes and that the seller is the true owner of the building.
Are There Any Natural Hazards In The Building?
Sellers must notify buyers of any hazards in the building, such as lead paint or termite problems. They should also tell buyers if the house sits on a floodplain or whether there are any property boundary disputes with neighbors.
If you aren’t sure whether the seller is being honest with you, you can always hire a home inspector to conduct a detailed survey. This will reveal any hazards that are difficult to pick up in a viewing.
What’s Included In The Sale?
Buying a big-ticket item like a house is similar to purchasing any other – sometimes you get extras included in the price. It’s a good idea to find out what these are before you move. Some owners will take all fittings and fixtures with them when they move out of a property, including lights, window coverings, and faucets. In some extreme cases, they may even remove radiators.
You’ll want to look into what precisely counts as part of the property sale. Check the language carefully so that you don’t wind up with any unexpected bills when you move in. You don’t want to find essentials missing.
