Top 6 Essential Questions to Ask Your Broker
Purchasing a real estate property is one of the most significant investments many of us will make in our lifetime. Because of this, it’s crucial to examine the property thoroughly before you close the deal and call a house your home.
Your real estate broker will work with you throughout the home-buying process, and to maximize their expertise, it’s essential to ask the right questions. There are many factors that affect whether the property is worth buying, and it can be challenging to know where to start.
Let this article help you find out some crucial questions to ask your broker before you say yes to the place!
1. Why is the Owner Selling the Property?
This seemingly obvious question is one that many homebuyers overlook. It’s essential to know why the owner is putting the property up for sale. After all, there’s a huge difference between the owner moving because of a job and because the area has become more dangerous.
Knowing why the owner is selling the property will help you decide if the property is worth it. Moreover, the answer might give you better bargaining power, so it’s always best to ask this question.
2. What Can You Tell Me About the Neighborhood?
When buying a piece of real estate, you shouldn’t just consider the property itself. It’s also crucial to view the surrounding areas to see if there are less-than-desirable aspects of living there.
Ask your broker about critical aspects of the neighborhood, such as the crime rate, noise, nearby facilities, and traffic. You may also want to ask the local residents about these factors for a shift in perspective.
3. Is the Place Prone to Natural Disasters?
Aside from everyday factors that affect the residents’ safety, it’s also vital to consider difficult scenarios like typhoons and earthquakes. These natural disasters affect the Philippines occasionally, so you may want to know how the property will hold up during these events.
Does the neighborhood flood easily? Does it lie on a major fault line? These questions can help you decide whether the property is worth the hefty investment.
4. What Fixtures are Included in the Sale?
Most properties have permanent fixtures like kitchen islands, wall-attached cabinets, toilets, windows, and faucets, which typically come with the sale. Some items like chandeliers, air conditioning units, and large pieces of furniture, however, may be taken by the owners when they move out.
You wouldn’t want to purchase a home because of its unique fixtures just to find out they’re not included in the sale. So, it’s best to ask your broker to provide you with a list of items the property will come with when you buy it.
5. Have There Been Major Repairs Done to the Property?
Major repairs and renovations are a big deal, as they can reveal many things about the home’s history. Whether there have been termite infestations or faulty plumbing issues, a good real estate broker should know these things and answer your question honestly. You may also want to request a professional inspection to be sure.
6. How Long has the Property Been on the Market?
If the property has been listed for sale for years, there may be things that dissuaded other potential buyers from purchasing it. The answer may even help you negotiate a lower price.
The Bottom Line
Real estate properties are a huge investment, so it always pays to know more about them before you purchase them. So, present these six questions to your real estate broker to make a well-informed decision!
If you’re looking to work with reliable brokers, Housify is the best place for you. Contact us via Facebook Messenger or email us at firstname.lastname@example.org to get a FREE consultation with our in-house property specialist!