9 Dec 2014

Mark Zawaideh

What Type of Questions Should Every Buyer Ask Before Purchasing a Home?

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If you’re looking to buy your next home and aren’t sure where to begin, you’ve come to the right place. Along with going to open houses and seeking a real estate agent, you need to be prepared with a list of questions that every buyer should be asking about when they are considering purchasing a home.

First-time buyers can run into this problem where they buy something without asking the right questions first. Here are the most common issues buyers run into that they should be asking before purchasing a home.

Location

You need to be asking questions about the location to see how desirable an area is going to be. Find out what other properties are nearby since commercial and apartment buildings nearby will lower the residential value. Ask about the neighborhood demographics and talk to the neighbors to see what you’re getting into. This is also a good time to ask about nearby schools and what traffic is like in the area.

Offering Price

Check with your real estate agent to see when the seller originally paid for the house. This will help you to see if the value of the home has gone up or down since they bought it. You’ll also want to know how much the seller still knows because if they owe more than the asking price, you’ll have to buy a short sale or the seller will have to bring cash to the closing. Find out how long the homes been on the market so you can negotiate a discount if it’s been over 90 days.

Condition of the Home

Find out about the home’s condition in advance. Check on the roof, the foundation, the insulation and how recently the appliances and systems were replaced. This will help you to see how soon you’ll be replacing things.

These are the top questions to ask before purchasing that home that may seem like a dream home and in reality may not be the right one.

Topics: Buyer Tips & Mortgage News