When you’re buying a property, whether you are a seasoned property investor, a first-time buyer or somebody moving up the property ladder, there are always a few questions on your mind, that you want answers to. The trick is knowing which questions to ask, and when.
I think you can safely say that if you’re dealing with an estate agent, they won’t necessarily volunteer information so it is up to you to extract information from them, or if you’re viewing the property with the owner, likewise from them. It can turn into a game of psychological chess, and the stakes are very high indeed!
To help you out, I have compiled a short list of questions that may help you when making offers, as the more information you have about a particular property, the more informed your decision whether or not to purchase it will be. If you can get thorough, detailed answers to these questions, you will be in a much stronger position when it comes to making your offer.
1. Why is the property owner selling?
2. What exactly is included in the sale?
3. How long has the property been on the market?
4. Have you had other offers, if so how far did they get?
5. How long have the current owners lived there?
6. How many times has the property changed hands in the past 5 years?
7. How did you arrive at the asking price?
8. Is it possible for us to speak directly to the seller?
9. What are the sellers timescales for moving out?
10. What improvements have been made to the property in the last 10 years?
11. Do you know the council tax band, utility suppliers and whether there is a water meter?
12. Can you explain to me the energy performance certificate and costs of recommended repairs or upgrades?
13. How old is the boiler and is it serviced annually?
14. What can you tell me about the local neighbourhood, schools, bars, restaurants and travel times to the nearest towns?
15. What are the neighbours like?
Having the right kind of information on which to base your decision can be the difference between buying the home of your dreams, or buying a total liability, one that could take you years to put right and then sell on. Put in the hard work before you buy, and then you can relax and enjoy your new home with total peace of mind!