DON’T KNOW WHAT TO ASK THE REAL ESTATE AGENT !
When inspecting a property on open for inspections or private viewing, you may be forgiven if you are lost for words especially if the agent is asking all the questions.
So, you are not that experienced when it comes to buying real estate, don’t worry you are not alone as most people only do a few property transactions in a lifetime at best.
So what are the most common questions, or what should you be asking?
- The most obvious, how long has the property been on the market for, if the property has been on the market for a surprisingly long time and it was not to your knowledge, be cautious particularly if the market is active, the home may have hidden issues, over priced, hidden repairs, or an unfortunate previous history to mention a few. Ask the agent why if this is the case.
- Why are they asking this price.
- Why are they selling, you may be surprised with the response when asked with this question, it may be an investment home,sometimes people need a smaller home, larger home, family grows, kids move out, a change in carriers, a death in the family or financial reasons.
- Have they had any offers, better still if they did, how much was it and why did they not accept it. This question generally opens up the conversation.
- Has the asking price changed at all since coming on the market and in particular after any previous offers.
- Are the owners looking for a fast settlement, this can also open up an interesting conversation.
- Has the property had any major extensions or refurbishments done.
The above questions are more than adequate to place you in a good position as a buyer.