2006-10-30 21:35:25 · 9 answers · asked by genieejj 3 in Business & Finance ➔ Renting & Real Estate
Questions to Ask When Buying a House
First-time home buyers and buyers who have not purchased a home for over a decade usually wonder what questions they should be asking of real estate agents, sellers, lenders and attorneys. Using an exclusive's buyer agent can help you learn about the process of buying a home and the right questions to be ask before buying a home. They can serve as your advocate to represent your interests throughout the experience as well as an educator.
Are you ready for the necessary work to conduct a home search, negotiate, and close on a new home? The criteria for buying a home can vary for buyers with different needs but check out the list below of questions to ask when buying a house and see which of them you need to add to your personal list before you start on your home buying journey:
How much can I afford? Get pre-approved for a mortgage.
Credit report, FICO score, type of mortgage, shop for best rates and programs.
What kind of home do I want (the ‘wish list')? What kind of home do I need? Style of home, size, price, location.
What kind of real estate agent should I use? Seek out an exclusive buyer's agent. Compare the services of different agents and look for good personal chemistry and undivided loyalty.
How can I search for homes in the MLS and For Sale By Owner (FSBO) homes? Sign up for daily email notification services and stay on top of all new FSBOs coming to market.
What about the neighborhoods, schools, crime rate, traffic, zoning, and work commutes? Rely on your exclusive buyer's agent's expertise and in-company resources. Check the web for helpful information.
What about zoning, easements, liens and other restrictions?
Visit or have your agent visit the town or city hall to determine.
How much is the house worth that I want to buy?
Have your exclusive buyer's agent prepare a property value study and ask the seller if there are any other offers and his motivation for selling, deadlines, etc.
What kind of condition is the home in? Are there termites or other pests? What about lead paint, asbestos, and radon?
Take advantage of the inspection contingencies in your offer and get thorough inspections to eliminate any surprises after you move in to your new home.
What about final negotiations and signing the Purchase & Sale Agreement? Use the inspection report to re-negotiate, if necessary and sign the P&S after review.
Will the home be in the same condition when I take ownership? Be sure to schedule a walk-through inspection prior to Closing.
2006-10-30 21:47:40 · answer #1 · answered by dipydoda 3 · 1⤊ 1⤋
First off, I can't over stress the importance of a pre-sale inspection, by someone not associated with the realtor.
Ask about the age and condition of the roof, the HVAC system, the water heater, the electrical system.
Ask why the people are selling. Ask how long the listing has been on the market. The longer it has been for sale, the more bargaining power you have.
Ask when the windows were last replaced. Ask about insulation.
There's just so much, and it seems that no matter how many questions you ask, you'll forget something. Get as many answers as possible in writing. Make a checklist of your questions so you don't forget any.
And of course, enjoy your house!
2006-10-30 21:41:05 · answer #2 · answered by Jenyfer C 5 · 1⤊ 0⤋
while you're paying for a economic organization owned or short sale you won't be waiting to make a contingent touch with a house inspection. In those situations the properties are often bought in as-is condition. you should ask on the subject of the roof, if the water drains in direction of or remote from the abode (in direction of ought to point cracks interior the beginning place), the age of the furnace/ ac unit and if any renovations have been made by capacity of a qualified contractor.
2016-10-21 01:06:03 · answer #3 · answered by itani 4 · 0⤊ 0⤋
Ask when major things were last replaced, roof, furnace, plumbing, electricity, if septic ask when last cleaned any problems, Ask if there are any leaks or mold. The seller has to tell you about any major problems so cover all bases because if they say no and you discover a problem you can sue. I don't know where you are but if you haven't already signed w/ an agent don't sign anything that contracts you to that agent. You are not required to and it will hurt you if you work w/ someone else.
2006-10-30 21:39:47 · answer #4 · answered by uknowme 6 · 1⤊ 0⤋
Really you need to hire a property inspector it costs a little bit BUT they know ALL the right questions to ask and what to check out for the home you are truly interested in. Your agent should be able to give you a list of names to choose from. It's a sort of cheap insurance in the long run, because it is doubtful you will think of every single thing to check. Hope this helps! good luck!!
2006-10-30 21:46:39 · answer #5 · answered by Thankyou4givengmeaheadache 5 · 1⤊ 0⤋
Are you a buyer or selling agent? You really want a realtor that is " buyers agent" as they will represent your best interest. Agents are obligated to the seller unless agent states in contract that he is a buyers agent and represents you only.
2006-10-30 21:42:15 · answer #6 · answered by D A 1 · 0⤊ 1⤋
What will be the TOTAL MONTHLY COST. This must iclude all levies, rates etc e.g. Bond, council rates, sewerage, water, electricity etc.
My first place I SERIOUSLY underestimated the actual costs.
2006-10-30 22:14:15 · answer #7 · answered by Anonymous · 0⤊ 1⤋
- why is the seller selling?
- can you make the offer contingent on your home inspection
2006-10-31 03:23:43 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Is it strong enough for earthquakes?
2006-10-30 21:45:06 · answer #9 · answered by Zifikos 5 · 1⤊ 1⤋