You’ve probably been looking for a suitable home for a while now. Finally, the time has come and you’ve found a property that perfectly suits your needs, but how can you determine the property will really be a good investment for you?
If you’re working with a real estate agent, make sure you ask these important questions that can help you make the best decision.
Why is the owner selling the home?
The first question you should be asking your agent is why the property is being sold. If the seller is upgrading to a different home or moving away, it makes sense that they put this property on the market.
If they’re moving out due to major structural issues or problems in the neighborhood, you should be wary about making the purchase. Asking your agent the reason behind the sale can help you understand whether you should make the investment.
Is the seller flexible on the asking price?
If you make a lowball offer on a home, you run the risk of offending the seller and possibly lose your chance of purchasing the home. Speak to your agent before making an offer and find out whether the seller is willing to negotiate on the price.
What are the seller’s disclosures?
A seller’s disclosure document is important for home buyers and sellers. When a property is put on the market, sellers are expected to disclose important information to potential buyers. The legalities can vary between states and jurisdiction laws.
The main purpose of a disclosure document is to provide vital details about the property that may negatively affect its value. Seller’s disclosures must include death in the home, hazards, neighborhood nuisances, major repairs, etc.
Always ask for the seller’s disclosure so that you can make a well-informed decision before investing in the property.
How long has the property been on the market?
The length of time a property has been on the market reveals a lot to potential buyers. If the home has been up for sale for a short period, there isn’t much to be suspicious about. However, if a property hasn’t been sold for a longer period, it could be a sign of grave underlying issues.
The process of buying a home can get quite overwhelming, regardless of whether it’s your first time. Vitoria Realty Corporation can help you find your dream home with our services.
Search our website for the best properties on sale in Miami, Tampa, and Orlando. Get in touch with us at +1 407 250 4850 for any further questions.