Although buying a new home is an exciting experience for many, it can also be daunting. The entire process involves completing several steps, all of which can make the home-buying journey stressful. So where to begin? What are the best questions to ask real estate agents?
Since most home buyers take advantage of using their own real estate agent, you are not alone. They are there to help guide you through the process. These people are experts in the field and will have your best interest at heart to help you find the perfect home for you and your family.
It will be helpful to you to have a list of questions ready to ask your agent. From getting basic information about the property to learning what documents you need to gather, there are plenty of important questions to ask when buying a house, condo, or any other type of residential property.
Here is a brief guide of a few important things to ask.
Basic Information About the Property
Whether you have found the perfect house or you are still exploring your options, it is important that you ask a few essential questions about the property. This includes basic information such as:
- When was the property built?
- What is the square footage of the entire property, including the outdoor spaces?
- Which way does the property face?
- What is included in the sale?
- When was the property listed?
- How much do other properties cost in the neighborhood?
- How old is the roof?
- Are there any problems with the foundation, structure, or landscaping of the house?
- Is there any evidence of dampness?
- Are there any easements?
The main reason why you should ask these questions is to get an idea of the condition of the house, whether it needs to undergo a few repairs, and if it is worth it for the price that is being sold for.
If the property requires you to engage in major renovations and fixes, then it may not be the best option for you because this way you will probably be spending more than what you expected.
However, if you get hooked on the house, then you may have to negotiate with the seller about a more suitable deal in which the repair costs will be subtracted or covered by them.
Learn About Property Features
Other questions to ask real estate agents revolve around property features. We’re talking about things like kitchen layout, the condition of home appliances, outdoor space, garage storage space, and the home’s curb appeal.
For example, if you are purchasing a home in a place where the summers get really hot and the winters very cold, then you need to know about the HVAC system installed in the house. If there isn’t any or the system is old, then you may have to consider a new one before settling in.
The bottom line is finding a property that meets (or exceeds!) your family’s unique needs.
What Paperwork Is Involved?
It is no secret that there is a staggering amount of paperwork you need to buy any property. This is where your real estate agent will come in handy the most as they will guide you along and help you find out what documents you need to gather to make a successful purchase. Some of these include:
- Proof of Income/Assets
- Credit Report
- Pre-approval Letter
- Loan Estimate
- Purchase Agreement
- Seller’s Disclosure
- Earnest Money
- Home inspection report
- Home Appraisal
- Closing Disclosure
- Homeowners Insurance
Although you will be getting most of these documents as the home-buying process progresses, it is important that you stay on top of things at all times so you won’t have any issues with missing paperwork.
Buying a home is undoubtedly one of the biggest financial investments you will make in your life. Because of this, it is important that you are well-prepared in advance so you can make the right decision when purchasing a new home.
Instead of going through everything on your own, build a list of questions to ask real estate agents that will set you on the right road from the start. Then you can rely on the assistance of a real estate agent to guide you along the process.