Hiring the right real estate agent is the first and foremost step towards finding the right property. The knowledge of a realtor defines what kind of customer service you’re going to experience and how fast you will get the property papers of your new home. So, to ensure a smooth home searching procedure, consider hiring an experienced realtor. In the following blog, we will discuss the top 10 questions to ask realtor when buying a house.
We all understand the role of an expert real estate agent in making the daunting procedure of buying a property easy. Can we all agree that without the presence of a realtor, we can’t even manage to begin the search—forget about finding the right property? So, if their role in this is important, then they have to have some kind of qualities that sets them apart from their competitors, right? Well! If finding the right home is not easy, so does finding the right realtor.
Here are some questions to put up to ensure that the real estate agent is the right choice for you.
Question 1: How can you define your experience in the market?
Well! When it comes to questions to ask real estate agent part, a positive experience is prime. You can’t just trust anybody who doesn’t have any experience in the market and yet claims to be the best. Ask them about their real estate knowledge—any good realtor can explain the market like a pro. From property price to budget-friendly properties to best destinations—they have everything on their tips. Do some research about the market before meeting them, find real estate questions to ask and test their knowledge. Ask about the best neighbourhood to buy properties or what kind of resources and amenities you can expect to experience while living in the house. Their experience is the key to finding the best home.
Question 2: Can you provide me with a property sales report?
One of the most important questions to ask before signing a house contract. You’re required to ensure that the property you’re about to purchase has a reasonable price and is aligned with the rest of the market. The recent sales report will allow you to check what similar properties have traded for in the market before. This data will help you negotiate with the dealer and make a fair offer.
Question 3: Why is the owner selling the house and how old is it?
To check whether the property requires an extra cost on maintenance and up-gradation, you’re required to know how old the property is? Is the owner selling their property because they are shifting or there is another reason? Knowing the owner’s intention behind selling their property will give you a clear idea of whether it is a good choice for you or not. Also, if the seller is moving in a hurry, there would be more chances to negotiate and get the deal done at a reasonable price. Gathering such data helps you understand a lot of things about the seller and the property in which you’re about to invest.
Question 4: What is the kind of neighbourhood or market around the property?
Another one of the most essential questions to ask realtor when buying a house. You probably don’t want to move into a market or neighbourhood that doesn’t have a good reputation around. Or, doesn’t have good amenities and resources like schools, medical stores, commercial stores and tuitions nearby. Ask your realtor about the market, particularly if there is any chance the neighbourhood may lessen in desirability.
Question 5: What is this property worth?
Your realtor can’t help you set a budget but they can definitely help you compare the best properties at the best price. Since they know the market and neighbourhood, it is not a difficult task for them to shortlist similar properties at a reasonable price. They can also tell you about similar properties in the neighbourhood that have been sold for a lower price.
Question 6: How long has this property been in your listing?
Knowing the duration of how long this particular property has been in the market gives you some ideas of whether there is a chance of negotiation or not. For example, if they have listed the property recently in the market, the chances of the seller receiving good offers are pretty high. Whereas, if the property has been in the market for a long time and the seller is not receiving any good offers, there may be something wrong with the property or its price.
Question 7: Is there any owner’s disclosure and did they live in the property?
Sellers/owners are needed to disclose essential things about their home that may affect its value in future. For instance, if the property had any kind of mechanical, fire or flood issues. Also, if you know that the owner lived in the home, there would be a sense of reliability that the property was well cared for and you don’t have to invest the extra amount in this up-gradation.
Question 8: How often have you tried to sell this particular property?
If this property has been on the selling list often as compared to the other one, this is a point to note that there is something wrong with the home. Nevertheless, you should look for the lifestyle around the property since the townhomes tend to have higher property rates as compared to family homes.
Question 9: What are property tax and utility bills?
Even if you’re buying a property for the first time, you already understand why it is important to ask this question. It is always best to plan a budget and estimate everything about the house to check if you could afford it or not.
Question 10: When will the owner move out?
Like we have said earlier, if the seller is in a hurry to sell the property since they’re shifting, there are better chances of negotiation. Or, if the seller has no deadline, then you have more time to explore the market thoroughly. Either way, you’re the one who is going to be benefited.
Other than these questions you should also have some knowledge about home buying tips if you are first time home buyer.
Whether you’re buying a property for the first time or it is your second or even tenth, hiring the right and experienced real estate agent is important. They will make sure that you’re buying the right property at the right price and are comfortable.