Crucial Questions to Ask Before Buying a Home

You have established the numbers of what you can afford as you look for a new home. You have researched the neighborhoods that you like, and now you are ready to work with a realtor. But which one? There are tons of them out there in your region. Now is the ideal to ask lots of question to determine if they are the right professional realtor for you. As soon this process is complete, you can now concentrate on your search.

Now you found a few properties that you like; you will want to ask your realtor to ask these six questions to the seller's agent. 

Why are the owners selling?

This question will give you facts on two things: significant flaws or if someone is moving for a job or going overseas.  This information is necessary to find out if they are motivated to sell quickly. Some realtors might be unwilling to share this information because it's personal for their client. If you get an answer that makes sense,  move forward to the next questions.  

How long has the home been on the market?

This is an important question to ask when buying a house. If the property has been on the market for more than 60 days,  you may have even more leverage to negotiate a better price.  Homes become more difficult to sell when buyers know how long it's been listed. Watch out for owners that are unmotivated to sell.

What is the market like in this neighborhood?

Ask your realtor to provide information about comparable homes in the neighborhood and what they sold for. These details will let you know if the price is best and you can make a smart offer. Also keep an eye out for warning if the neighborhood’s home prices are suffering. This usually signals a lousy time to invest in that area.

Did the seller provide any disclosures?

This is a significant step in helping to protect against buying a lemon. Legally, sellers are required to disclose all issues and things wrong with the home. Ask your realtor to evaluate the list of disclosures. If you do not understand something that is listed, be sure to ask them to explain. 

What are the property taxes in this area?

A big part of buying a home is financial planning. You have to know what the property taxes are in the area.  This info could make or break your decision to buy.

 Is there anything else I should know?

Ask the seller they have things like the layout of the property, paperwork for all of their mechanical components, service records, receipts and manuals.  When was the HVAC last serviced? Are there good maps of the water lines or other underground systems? Are there any significant limitations? If you have questions specific to your personal home goals, make sure you ask them all!

Get VIP Service with Mike Bolger

Avoid getting stressed out by using MLS websites. Properties listed on MLS have already been seen and could have offers or bidding wars going on.  The better choice is to have Mike Bolger do all the work for you.  Mike will search every resource that is available to find you the best house or property that meets your criteria. Mike will give you the best insights into the community, market, and the area.  The main objective is to use strategy and negotiation to get your property for the best price.

Mike Bolger, Sales Rep
Chestnut Park Realty Southwestern Ontario Ltd.
The Shops at Waterloo Town Square
75 King Street South, Unit 50
Waterloo, ON N2J 1P2
+1 (519) 616-2656


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