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Questions to Ask When Buying a Home

Whether it is about buying or selling a property, educating yourself with the process is important because knowledge is power. 

 

To be able to carry out the process smoothly, it is imperative for all buyers and vendors to seek clarity. This is because, without any knowledge, you might find yourself in the dark.  

 

Even though you have a real estate agent by your side, you as an owner must be aware of every step that your house may have to go through while selling. Similarly, you must learn about the steps involved in buying a property as well.  

 

There is no doubt a real estate agent will keep thing transparent for you while buying or selling. However, you must stay active, aware, and informed of everything after all you will be spending thousands of dollars.   

 

If you find yourself confused, you must hire a suitable real estate agent for yourself. For instance, if you are looking to buy anywhere in Cranbourne, Hampton Park, Lynbrook, or nearby suburbs, then contact Carlton Vaz. He specializes and offers his expertise in real estate across all these regions.  

 

Spending your hard-earned money blindly and without putting any thought can lead you in financial as well as emotional trouble. So, to prevent you from getting into any such issue, it is important for you to ask questions and clear doubts.  

 

A good real estate agent with you will always be available, will guide you right at every step, will tell you what’s right and what’s wrong, will keep you informed, and will simplify the entire process for you. But you may still find yourself in a tizzy. So, here are some of the questions that you must ask and seek answers for.  

 

Let's see what are those 

 

But before that let us see the mistakes people often make while buying a home.  

  • People get emotionally attached with the house.  

  • Not looking into the practicality and logical information. 

  • Not accessing the real estate market condition (buyer’s market or seller’s market). 

  • Not accessing the long-term benefits of buying a house/ property. 

  • Agreeing with what people or real estate agent says and failing to ask why. 

  • Rushing in the process and not following the government norms and code of conduct. 

  • Staying ignorant of the home buying process 

 

The above-mentioned mistakes are some of the commonly made errors. But these can be avoided if proper precautions are taken and the home buying process is followed duly step-by-step.  

 

While you follow the steps, just remember to ask questions in time because once you reach the settlement stage, it might get too late to seek answers. So, being a buyer, it is your responsibility to have attention to detail, check problems, if any, do not stay mum but shoot queries.  

 

We ensure, your queries will be duly answered. If not, then it is a sign for you to change your mind.  

 

But if you want to ask questions, here’s what you should.  

 

Ask About Recent Property Sales Report 

Ask About Recent Property Sales Report

 

This question will tell you about the worth of a house. Asking about the property’s sales report is one of the most important questions that you can ask. Many people do not ask this question may be because they are not aware or they hesitate to ask.  

If you are going to buy a home after selling the current home, then you should question your agent on why they think the house is worth for the amount it is being sold. To get clarity on this question, you must ask for a detailed report on the recent sales which shows similar properties sold in recent times.  

 

Ask Reasons Why the Vendor is Selling 

Ask Reasons Why the Vendor is Selling house

 

If you figure out the reason why a vendor is selling a property, it will help you negotiate better. If there is a real estate agent in between, he/she might do this job on your behalf. But you should ask this question to your real estate agent and get answer. Once you are able to negotiate on strong grounds, you can potentially save thousands of dollars.  

Knowing the reason behind the sale can provide invaluable information to a buyer so make sure you ask it. 

 

Ask For How Long the Property Has Been on the Market 

Ask For How Long the Property Has Been on the Market

 

If the property has been on the market for more than six months, just make an assumption that it is either wrongly priced or there is something wrong with it.  

In Australia, the average time a home stays in the market is around a month. So, asking this question will get you clarity about the long stay of the house in the market.  

 

Ask If the Property Was Taken to Auction 

Ask If the Property Was Taken to Auction

 

If the home was taken to auction and could not sell, try to know the reason and figure out the cause.  

 

 If the property was passed in at auction, make sure you ask if the pass-in price was from a buyer particularly or if it was completely a vendor bid. 

 

You must make sure that the house you are buying is fairly priced and also compared to the rest of the local market. Make sure, you are not overpaying. 

 

Ask If There Are Any Issues with the Property, or Neighbours 

 

There may be some issues that you could not see with the naked eye. The issues that you might miss can even affect the value of the property. So, it is important to ask the real estate agent about issues, if any. Maybe, you change your mind on this. 

Even though the building inspector or your conveyancer will help you pick up the potential issues before settling. You should ask the real estate agent before signing the contract. Just in case, they point out something new and things change later on. You never know!  

 

A good real estate agent will tell you upfront if there are any issues that can affect your decision later on. Also, if you do not want to depend entirely on real estate agent, do conduct research of your own.  

 

Ask If the Sellers Are Open to Negotiation Or Not 

Ask If the Sellers Are Open to Negotiation Or Not

 

This question is important because if you know the seller is open to negotiation, you will be able to set the best possible price for the house.   

 

In case you are on a bargain hunt, you would want to be clear on what the minimum amount a seller is happy to let a property go for. It will help in determining whether you can afford it or not.  

 

Ask for Sales History  

 

To get a clear picture on the real worth of properties, conduct a thorough research and look for the sales history of the houses in the area.  

 

You can ask your real estate agent for the same or you can also speak to other real estate agents in the area. Numbers, statistics, and figures give a crystal-clear idea. So, look for accurate data.   

 

Ask for Any Changes That has Occurred in a Suburb 

Ask for Any Changes That has Occurred in a Suburb

 

See the changes if any happened over time in the suburb you are looking forward to buying a house. Look for the profile of the suburb like its demographics, amenities, access to public transport, schools, parks, etc. It is important for you to check everything in that suburb because you will not just buy a house but an area.  

 

Talk about it to the real estate agent and even the seller. You may want to know if the area has professionals, seniors, families, or retirees.  

 

Considering lifestyle while buying a property is crucial. This is important in two main cases like downsizing and upsizing. If you are upsizing, then also lifestyle and area should be taken into consideration. After all, you must be upsizing to enhance the standard of living. Same goes for downsizing too. You might want to downsize a home to a more peaceful place to enjoy retirement or whatever may be the reason. In any of such cases, do listen to what you have desired all your life. But at the same time, do not even settle for anything less than what you deserve.   

 

Conclusion  

 

You will be spending a huge amount and probably you will be making a big decision of your life. So, it is important for you to take steps with utmost care and do not hurry. Remember, haste makes waste. One wrong decision can affect your budget and long-term plans. So, it is better to seek advice from your real estate agent. Talk to him about everything clearly. Do not mince words instead ask what you want to. 

 

Satisfaction and contentment are key in making such a big purchase. If you are going to spend thousand dollars, it is suggested to take every move wisely. 

 

In case, you do not feel confident about the process and even about asking questions, hire a real estate agent in Lynbrook or of the suburb you want to buy a house in. You can also contact the best real estate agent, Carlton Vaz providing his expertise in Lynbrook, Cranbourne, Lyndhurst, and nearby suburbs.

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