Questions to Ask your Estate Agent to Make Home Buying a Smart Deal

 Apr 28, 2017
Questions to Ask your Estate Agent to Make Home Buying a Smart Deal

Buying your house is one of the biggest financial commitments you make in your lifetime. Several questions might come to mind before making the leap. Some questions include – How much sunlight does the house get? Are there schools, parks and restaurants near the area? What transport links are available? Smart buyers will never get caught up in the excitement of purchasing their home in the wrong area.  As you hop from one property to another, knowing the right questions to ask estate agents in London Bridgecan save a lot of confusion, stress and time. Make sure you invest your time in checking necessary details with the property apart from finding the perfect location and following expert advice.

Why is the property for sale?

The first question you need to ask your estate agent is the reason for selling the property. This will enable you to know the value of the house and the time frame for selling it.

Though some estate agents might not want to discuss these details, learning the exact reason behind the sale will give you an idea about the seller you are dealing with. This will also give you an insight into how enthusiastic they are in selling the house.

For example, a homeowner who is moving to a different place will probably want to sell the house sooner than someone who is just renovating the house. You may even negotiate on the price as this is an urgent deal.

How long have the past tenants stayed in the house?

If you are purchasing an old property, it is important to know how long the previous tenants stayed. If they had been there for many years, chances are they were satisfied with the property. This is definitely a good sign of buying the house.

Before taking the final decision, check if necessary renovations have been done on the property. You can even take some photos for insurance purpose in case there might be some damage in future. Though it is easy to identify exterior damages on the property, you may not be able to spot out interior damages unless you live in the house.  According to some letting agents in Elephant and Castle, it is important for you (as a buyer) to enquire about any damage incurred on the property during the last tenancy.

What is the lowest price seller is willing to agree on?

While negotiating the price of the property, do not forget to ask your seller about the lowest price they will settle. Some agent will simple tell you their price while others might only give a hint on the final rate. This will help you know if you can afford the purchase the property on their price.

There might be some consideration for buyers who have a limited budget but that could highlight potential risks with the property.  If the seller agrees to meet all your demands and even accept on your lowest rate, this might indicate some negative sign for you. Make sure you close the deal only after being satisfied with the terms and conditions of the seller.

Do not agree to settle on the first house you come across and think it to be the right one. Though it is suggested to have structural survey on the property you are planning to buy, it is important to find out if any repair/renovation work has been done on the building recently. The previous owner will not tell about any issue in the house once you sign the agreement but your estate agent can tell about ongoing problems with the property and thus, help you make a beneficial transaction for your future.