Last update on May 1, 2025
Asking many questions is a great idea when you are looking to buy a house. Asking for the good The questions will give you the advantage you need to negotiate until you are satisfied with the final result.
Armed with the answers to these ten questions, you will know what to expect, from the previous approval to the closing day. After all, surprises are fun on birthdays, but they are bad news in the housing purchase process.
What can I afford?
It is very important to know how much house you can pay before placing your heart on a particular property. When you know how much a house really costs, and what you can reasonably handle, you will avoid the heartbreak of finding “the only one” only to learn later that it is out of your budget.
When you calculate your budget, be sure to take into account not only the monthly estimated mortgage payment, but also the initial payment, the owner's insurance, the HOA quotas, if applicable, the maintenance of the home and any renewal that must be made at home. If you do not plan to reduce 20%, the budget for PMI or private mortgage insurance, as part of the monthly mortgage payment.
Being previously approved for a mortgage will help you understand how much you can pay, and it will do a much more attractive buyer if you enter a multiple offer situation in your dreams.
Related reading: How to get pre -approved for a mortgage.
Is the seller motivated?
Two questions will help him measure how motivated the seller is. First, why does the seller move? Second, how long has the house been in the market?
People move for all kinds of reasons. Some of those reasons, such as being relocated to a work that begins on a certain date, can result in a seller who is more inclined to be flexible with the price, contingencies and credits for repairs and replacements.
The answer to this question is not easily available, but it is no more than your real estate agent to ask the seller agent to be willing to share. They can even clarify something you really likeTo know, as the neighborhood that goes downhill, or serious problems with the house that are causing sellers to move.
The next question is much easier to find out: how long has the house been on the market? Your agent can tell you this, without sweat, and a simple online search must discover if the house has been listed before by the same owner but retired from the market. Anyway, the more the house is in the market, the more motivated the seller should be. Use this for your advantage by making your initial offer and negotiating the contract.
How is the property measured?
You are not buying a house in a vacuum, so the neighborhood is your friend! Ask your agent to make comparable lists currently in the market, as well as houses that have been sold in the last six months. Look at the list price compared to the sale price, the price per square foot, the days in the market and other details to help determine its initial offer and if it is a good idea to request concessions, such as making the seller cover some of the closing costs.
What are the risks associated with this property?
The owner's insurance must cover the typical dangers that can affect a house, but depending on the location of the property, it may be looking for serious risk factors that require additional insurance.
For example, properties located in flooding areas may require the purchase of flood insurance, a separate policy of owners insurance. You can verify if a property falls into this category using FEMA flood map service.
Earthquakes, hurricanes and tornadoes are additional risks that can be higher in certain geographical locations, so it is important to discover the level of risk of the property it is considering. One way to find out what types of insurance claims have been presented at home is to obtain a track, or a comprehensive loss subscription exchange.
This report reveals all the owner's insurance claims that the seller has submitted in the last seven years. This information, which is received by your seller agent, can shed light on important issues that could affect how much ends by paying for the owner's insurance.
How old are appliances and systems?
While we talk about risks, let's see the risks of buying those large appliances and main systems that come with a house. He has budgeted this purchase as a professional, so the last thing he needs is the surprise spending of replacing an oven a month after moving.
These things have quite predictable life sections that, unfortunately, are shorter than the useful life of the house. Discover the age of appliances included in the sale, as well as the oven, the water heater and the heating, cooling, plumber and electricity systems.
If any of these is in their last legs, try to obtain a guarantee of the house included in the sale or negotiate a concession that invoice in the replacement cost.
Related reading: The role of a house guarantee
How old is the roof?
Knowing the condition and age of the roof can save a lot of headache and wallet pain later. In a perfect world, the real estate list would include this information. In the real world, you may have to ask. In addition to being an important expense that you will need to plan, an aging or problematic roof could affect whether your lender approves your mortgage loan.
What is included in the sale?
The state where the house is located and the seller preferences come into play when it comes to what is included in a sale. Typically, articles considered “accessories” (such as cabinets, taps and blinds) are included, but what about appliances, window treatments, built -in speakers or swing games?
A good general rule is: when you have doubts, find out. You can also request in your offer that articles such as pool tables, swing games or exterior furniture are included in the sale. If the seller agrees, always get the written answer!
Is there any problem with the house?
Before making an important purchase, you want to know as much as possible about what you are investing. That is why the seller has to reveal all the problems known to the house, and an integral inspection is part of the housing sale process.
When you get the dissemination and inspection report, check them in detail and ask your agent about anything that seems like a red flag or is something that you do not understand. Both reports help him to have a clear idea of the problems associated with this investment he is making for the next chapter of his life.
For older houses, or for any home that worries you, make sure the seller reveals any previous problem with dangerous substances such as lead paint, radon, mold or asbestos. They must also provide documentation on how those problems were treated. The inspection report must also cover hazardous substances, and any red flag may require additional tests.
What is the neighborhood? In fact as?
The seller can tell him what he thinks he wants to hear when he asks about the neighborhood. Do not be afraid to drive and chat with any neighbor who is away from home. They have nothing to lose when they are honest about the pros and cons in the neighborhood. Find out about traffic, comfort, schools, friendship with pets and any other factor that affects their quality of life daily.
Join the Nextdoor and Facebook groups for the neighborhood. Know local schools and online crimes statistics. Do a practice of property to work or schools during the morning and afternoon to see if the trip is something that will work for you and your family.
What happens when closing and how much does it cost?
If everything goes according to the plan, the closing day is when it becomes the owner! Its initial payment will be collected, together with all the rates incurred in the many services that were dedicated to the housing purchase process, including loans, research of securities and deposit rates in guarantee. Most people pay between 2 and 5 percent of the purchase price of closing costs (not including initial payment). (For a house of $ 250,000, that is $ 5,000 to $ 12,500).
The estimation of the loan that he received within three days after the request for his mortgage must contain estimated closure costs. You will also obtain a closing dissemination statement at least three business days before closing that contains the exact amounts of its closing costs. We recommend comparing this document with the loan estimate that its lender sent at the beginning of the housing purchase process and to inform your agent if you see any discrepancy or area of concern.
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Allen Tate is the largest real estate company in Carolinas with more than 70 offices and 1,800 real estate agents in Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain Regions. Allen Tate is a partner of Howard Hanna Real Estate, the largest private real estate corridor in the United States, with 480 real estate, mortgages, insurance, titles and offices of deposit services in guarantee and 15,000 sales associates and personnel in 13 states. For more information, visit www.allentate.com and www.howardhanna.com.
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