Finding a place to call your own is a very exciting journey. Trust us. We’ve been there and it has been a really bumpy ride especially when you are too overwhelmed with the idea that you forget to ask important questions.
It’s normal to feel ecstatic and nervous at the same time, but wisdom should not be out of the picture. You can’t just pick a property as the biggest investment of your life based on pure emotions or hunch.
You have got to have a dose of honest assessment of your financial condition is the key. And you definitely have to ask the right questions to the previous owner of the house you want to buy. Take it from us, some residential properties for sale may look perfect but they may not, in reality and with proper examination, even close to being good.
So before jumping into any commitment, here are the questions you have to ask from the seller of that prospective home you want to buy for you and your family.
How many prospective buyers looked into it?
This is a simple question that might open up doors for discussion on how likeable the property is. There’s a tendency that he or she will not tell the truth about this, but you can actually make follow-up questions that will make it hard for the seller to lie.
This way, you will find out positive and negative facts about the property.
How much is the remaining balance?
Budgeting is number one when it comes to buying a property. Like we said, an honest financial assessment is one of the keys to making the right decision. Know every detail that you need to know about the financial aspect of the sale.
The remaining balance is one thing you may not look into but you really should. This is actually the first question to ask the seller whether or not they have an unpaid balance for the property or not. If they do, ascertain how much.
If you’re making this big investment, you probably want to live there for a long time, if not for the rest of your life. If you’re not planning on changing your address after transferring to this property, then you should make sure that neighborhood is good for you and your family.
Ask the previous owner and though it’s hard to adduce an honest answer in some cases, at least ask them and make them know how important it is to you. You can also observe for some months or weeks and make your research about the neighborhood.
Why did you buy it before?
If you’re buying from a reseller, you better ask whey they loved this home in the first place which made them buy the property. By asking this question, you will hear positive facts about the house that will lighten the mood.
Reason for selling
The next question would be why they have to sell it to somebody else. This is a very straightforward question and you have to look them in the eye as they tell you their reasons.
This is very important because you might discover some things about the neighborhood and about the house itself. You might also come up with better terms of payment if you discover the seller’s need which is the reason why they’re selling the property.
Was there renovation work done before and why?
You really have to ask this question because it will give you the idea of the state of plumbing and electrical structure of the property. You can also get some tips on the maintenance of the property.
If renovation or repair was undertaken on the plumbing system of the house, it will be safer to install in the property water filtration system because of its benefits to you and your family.
Have they prepared written warranties about the home?
In most countries around the world, part of a real estate sale would be the seller’s obligation to make warranties about the property. This is a layer of protection for the buyer that the house has the same condition as the seller represents it to be.
Make an agreement with the seller to have this document of warranties written, signed, authenticated, and legalized.