If you’re in the process of buying a property, you might be wondering what questions you should ask your estate agent and if you have missed anything important.
We know the whole house-buying process can be overwhelming, especially if you’re a first-time buyer. From property viewings, securing a mortgage and all the legal side of things – it can be difficult not knowing where to start and what to ask.
In this article, we break down some things that you should ask the estate agent along the way – to ensure you don’t come across any nasty surprises or unexpected bills when you move in.
- How long has the property been on the market
If you know how long the property has been on the market, you can get a sense of whether there has been much interest – and if not, why not.
It can also help you gauge whether the property has been priced too high, or whether there might be another unknown issue with it. It can also let you know if there is room for negotiation or you may even be able to give a low offer if the sellers are keen to get rid of it asap.
- Has the price been reduced
If the property price has been reduced, it can give you an idea of whether there is room to negotiate a better price. The property may have been overpriced to start with, and now the sellers are eager to sell, or they might be desperate to get rid of it – putting buyers in an ideal position.
- Reasons for selling
By asking the agent the reason they are selling, can give you an idea of any issues with the property. Maybe there is a lot of work to be done, or an issue with the neighbours or area that you should be aware of.
- How long have sellers lived in the property?
If the sellers have lived in the property for a long time, it could indicate that they enjoyed their time there with minimal problems. However, if they have lived there for a short period of time it may raise questions as to why they want to move so quickly, or if they have ran into any unexpected issues with the property or surrounding area.
- Is there a chain?
Determining whether there is a chain, or how long the chain is can give you an idea of how long the sale will take. If you are at the start of a chain, for example, if you’re a first-time buyer, you are in a good position.
However, if the seller is also waiting to move, you may need to wait for them to find a property and complete their purchase before you can move in. Long chains can be complex and may result in various hold-ups if there are issues further down the chain.
- What’s included in the sale?
In some instances, sellers do not want to take white goods, furniture or fittings with them so it may be possible to strike up a deal for any items you would like to keep. However, do not rely on this, as they may take everything with them – but there is no harm in asking.
- How much are bills
As well as working out how much your monthly mortgage repayments will cost, it is important to calculate your monthly bills on top of this. Ask the agent what tax band the property is so you can find out what your council tax bill is likely to be.
You could also ask about the average running costs of gas and electricity, as well as any information about broadband connection in the area.
- What are the neighbours like?
Finding out what the neighbours are like is important, as well as what the demographic of the street is like. For example, if you have a young family with children, chances are you won’t want to live in a student-populated area, with late-night parties throughout the week.
If you are serious about the property, try knocking on the neighbours’ door to meet them, and ask them about the neighbourhood.
- How old is the boiler?
Boilers can cost thousands to replace, so it is important to find out what condition it is in before putting an offer in. Ideally, the property will have a modern combi-boiler which has been services in the past year. Older, conventional boilers tend to be less efficient and more costly to run.
Further reading
Purchases – Oakwood Property Solicitors
WHAT TO DO NEXT
To make a start on the next step in your property journey, get in touch today to book a consultation with a member of our team. Call us on 0113 218 5727 to find out how we can help you.
