By The A-Team | Jan 31, 2018 | Buyers Advice
First, the best question you can ask a home seller is the reason they're selling their home. There are many reasons why people sell, but some are worse than others. A recent post from Investopedia explains why this is important:
It's good to know the reason the seller's are selling because it helps you identify whether there are major issues in the house.
Why are you selling?There are many reasons why people move, including job relocation, desire to get into a smaller/larger house, life events (marriage, birth of a child, death of a spouse) and retirement. While you may not always get a truthful answer, asking why the seller is moving can be helpful in determining how much room there is for negotiating.
Depending on the reason for moving, the seller may be willing to accept a lower offer if it means he or she can be out of the home faster. Of course, if the seller is in no hurry to sell, there may be little room for negotiation. Via investopedia.com
Next is to ask how long the home has been on the market. This is something your agent should be able to tell you, as it has a considerable effect on the buying process:
It is important to know because it can help you determine if the house is priced too high. You can take advantage of this because most sellers are willing to negotiate in order to sell their home.
How long has the house been on the market?While you can glean information from the internet and your broker, there are details that only the seller can provide. However, there are sellers who would provide only the basic information about his property and try to avoid consequential questions that might affect the potential sale. To know the right answers, you must ask the right questions.
If the house has been on the market for more than six months, either it or its neighbourhood has problems that turn off potential buyers. More so, if it is inappropriately priced, it won’t draw much attention. When a property becomes stale for staying on the market for a long time, the seller knows he needs a new strategy and must be open to negotiation. h/t hoppler.com.ph
Lastly, be sure to ask how old the house is. A recent post from Property Checklists explains why the age of the home matters:
Knowing how old a home is can help you identify issues or problems with the house that needs maintenance or repair. If you're looking online though, most MLS® listings will include the build year, so it's not too hard to find the info yourself.
How old is the house?Once you’ve found a property you like, it’s time to start asking the important questions to make sure it really is your dream home.
This can guide you about timescales and maintenance costs for any renovations or any parts that may need replacing after you’ve moved in. read more at propertychecklists.co.uk