A house is one of the investments that you may have to spend more than your money to acquire. If you want to find the best home, you need to put more effort and time to find the right one. As a first time homebuyer, you should be careful not to make rash decisions just because you so much admire a house.
Many house sellers take it upon themselves to do everything possible to make a house as attractive as possible so that they may sell with ease. But even though a property may appear to look good from the outside, when you rush to purchase, you may never know the problems facing that house.
You may only realize much later that you made a poor decision when there is nothing you can do. Therefore, before you decide to sign, here are some questions you should demand answers from a home seller about the property you intend to purchase.
Why do you want to sell your house?
There can be more than one factor influencing the home seller’s decision to sell the house. They may include a job transfer to a new location and other personal reasons such as the death of a spouse. Additionally, they may need to move into a bigger house when their family expands, among other reasons.
There is no guarantee, however, that the seller will be forthcoming with an honest answer. Still, you will be able to tell the sense of urgency from their response. If the seller is not in a hurry to sell the house, you will not have any chances of negotiating for a better price.
What is the condition of the house?
You may suffer significant losses if you end up buying a house with poor renovations and mediocre construction. Excellent examples of some improvements you may want to consider include a garage door replacement, installation of a new HV/AC, and the relocation of plumbing fixtures.
Find out if the home improvement was a DIY project or the work of a licensed contractor. Check if there were any permits for renovations that require the need for one. You may end up paying a costly fee to acquire a license that should have been in place already as the new house owner.
If there were no repairs on the house, you should not just assume that the cost of the house does not include the value of the anticipated repairs. Ask the home seller about any price change and how it affects the condition of the house.
What is the location of the house?
If you have any plans of reselling the home, you need to ensure that you do not purchase a home in the wrong location. The neighborhood of the house can influence the price of the property. Additionally, you should find out if any nuisances around the area may affect the home, such as barking dogs, operating businesses, and disturbing neighbors.
Though the house seller may sometimes not give you a detailed answer, you can research by visiting the neighborhood and asking the locals.The investment you make in purchasing a house is massive, and that should give you the confidence of being extra selective. When you ask the seller the right questions, you can get to know essential information about the home that can influence your purchasing decision. Your inquiry may also notify the home seller about how they should get your home ready after you sign the contract. If you have any difficulties in connecting with the home seller, you can ask your real estate agent.
This is a contributed post.