Questions to ask at an open home inspection
Buying a home can seem like a difficult task, especially if you’re a first-time buyer. This is when a real estate agent can be of invaluable help to provide you with intricate details about the home itself and the current property market. If you’re on the search for a new home, here are four essential questions to ask a real estate agent at an open home inspection.
What is the value of the home?
You might know the price of the property but finding out the value can help you to determine if it’s priced fairly. Ask the agent about the value and whether that figure is based on an agent’s appraisal or an independent property valuation.
If a formal valuation hasn’t been conducted, consider getting one from a professional.
Why are the owners selling?
Asking why the owners are selling is helpful. For example, if they’ve already purchased another house, chances are they want to sell their former one quickly. You could also ask how long the property has been on the market and if there have been any price reductions. If the home has been listed for a while, you might have the opportunity to submit a lower offer.
Do you know of any future developments in the area?
Developments might affect your decision to buy a residential property. If you’re an investor, new developments could be a bonus to your rental property. More great amenities, such as shopping centres, can lead to more interest in your home from renters.