Home Buying & Selling 10 Questions to Ask Before Buying a Home

10 Questions to Ask Before Buying a Home

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I have Many Consider before buying a house. If you plan to live at home, you need to have a clear idea of ​​what the next few years will look like for you and your family. When a home becomes an investment property, you need to understand what risks you are taking.

You too before think Make sure you discuss the inside and outside of the property with your realtor about making an offer. Leaving the stones unrotated can cause the pipes to burst or cause serious damage to the road.

Here are some of the most important questions to ask agents when buying a home:

  1. What am I going to pay each month to keep this house running?
  2. Is this house in a flood zone?
  3. When are sellers closing and moving out?
  4. Why are sellers closing and trying to move?
  5. How about the market in your neighborhood?
  6. How is your neighborhood life?
  7. What is the seller’s disclosure?
  8. Have owners made insurance claims in recent years?
  9. Where can I find home appliances and system documents?
  10. Would you like to buy this house?

Next, let’s take a closer look at why each question is important and how we can apply the information we collect to the decision to buy a property.

1. What am I going to pay each month to keep this house running?

You already Mortgage pre-approvalHowever, talk to your agent about how much it will cost to keep the lights on.These costs can just be shown to you How much The wiggle room is within your budget. Unusually high electricity and heating costs may also indicate problems that need to be fixed. (For example, lack of insulation or leaks from faucets can affect utility bills.)

When buying a condo, don’t assume HOA rates. Be sure to get the details from the agent and see if a HOA assessment is done. Owners of new condos are often overwhelmed by disclosures, assessments, and other high rates, so eliminate as many surprises as possible before making a purchase.

Related: 7 Signs of Bad Realtors

2. Is this house in a flood zone?

Remember to consider homeowner insurance when calculating your monthly payments. Flood insurance, earthquake insurance and other structural insurance will be added immediately. Calculate how much it will cost to rebuild your home and factor this into the insurance payments you have to make throughout the year.

3. When are the sellers closing and leaving?

A seller who is busy with time may be waiting and may not have the resources or ability to negotiate with all incoming buyers. If you know that the seller is rushing out, you can potentially win a deal.

Aerial view of a residential area in Hawthorne, Los Angeles, California

4. Why are the sellers closing and trying to move out?

Sellers may need to start a new job in a new city right away. Or maybe you’re just running away from an unsalvageable house.Please dig a little why The seller is selling. Your curiosity may reveal some issues that you don’t want to fix.

5. How about the market in your neighborhood?

Drive your neighborhood to see if other properties are for sale. Is anyone looking for a move?Or everyone is looking Do you want to move in? This information is important not only for investors, but also for buyers who are waiting for things and may want to see what other opportunities are likely to occur in the area.

Dig into the value of your neighborhood home as well. This will help you determine the right price for the house you are buying.

Related: 4 things you can negotiate other than price when buying or selling a house

6. How is your neighborhood life?

If the nightly train rocks the entire property at 3am, the house is not a dream house. The open house shows no damage from violent teens. Take a moment to research your neighborhood demographics and the people you live in.If you are planning to do Invert properties Also Rent to long-term tenantsYou may still have to answer similar questions about life in your neighborhood.

7. What is the seller’s disclosure?

In almost every state of the country, sellers need to sign a form that discloses important information about the condition of their home. This form may contain information from 10 years ago.If you have anything Home mistakes, seller disclosure forms need to be notified to you.

Real estate agent handing over the house key

8. Has the owner made a claim in recent years?

Alternatively, you can request to view the Comprehensive Loss Underwriting Exchange (CLUE) report. Only homeowners and insurance companies have access to this report, but it’s easy to get and give to the buyer. This report shows recent claims made after incidents such as vandalism and natural disasters have damaged homes.

CLUE reports, seller disclosure forms, and other insights can help you get a complete picture of the property you want to buy. Without this story, I wouldn’t be able to write the next chapter of the house with confidence.

Related: 3 Tips for Finding a Real Estate Agent (For Investors!)

9. Where can I find the documents for home appliances and systems?

Look for documentation, even if your home has new appliances and an HVAC system. Get warranty information for everything in your kitchen and anything that may need to be replaced in the next few years. Organized documents can save you a lot of time if you need to call a repair person or have a regular inspection. If the seller is not organized, it may be a clue to what comes.

10. Would you like to buy this house?

This is always a fun question to ask your realtor. Asking questions to them can lead to hesitation (or great features) that you haven’t thought of before. If your agents aren’t keen on buying this home on their own, why do they want to show it to you?

If you have any questions about the property, feel free to ask. The more you know about your potential home and investment, the easier it will be to make the right decision.

Any questions I would recommend adding to this list?

Share below!

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