Home buyers need to remember that, buying a property from houses for sale prospect is a lifetime of the investment. So, having queries and asking questions does matter. Here are some must-ask questions every investor and home buyer need to ask before buying a property.
[b]Can the agent show you the recent property sales report?[/b]
This is one of the important questions to ask but, many buyers do not think its significant. However, being a buyer, you should always ask the agent why they think the price they are selling it for is the right one for the property for sale? To have a confirmed answer, ask for the recent sales report which will show other properties of similar kind and their selling price in the recent market.
This will help you to make sure that the house you are buying is priced fairly compared to the local market. It will also assure that you are not overpaying for the property.
[b]Why is the vendor selling?[/b]
Asking this question will assist you when you are negotiating with the price also it can potentially save you thousands of dollars. If the vendor has already bought property, he or she will be more motivated to sell the previous one.
If you are looking to buy a new property, the settlement may take longer time, unlike a re-sale property. So, you need to check your priority before buying a property. Knowing the reason behind the sale of an invaluable question, so make sure you ask it.
[b]How long has the property been on the market?[/b]
If a property is in the market for more than six weeks, assume that either it is wrongly priced or there is something wrong with it. In the current market of Melbourne and Sydney, a correctly priced property should sell within six weeks.
Also, ask whether the property was taken to auction and if so, why it failed there?
These are some of the vital questions home buyers should ask for before buying a property.