
Its said that buying a home is one of the most stressful decisions in a persons life alongside getting married and moving. In most cases youre looking at a 30 year commitment to a building and community. That means you want to find the right home at an affordable price. Doing so can feel daunting, which is where an experienced real estate agent comes in handy.
Ask them questions about the property that will help you in decision making. For example, how long as the property been on the market? The longer a seller has tried to move the property, the more anxious they become. You can come in on long-sale properties with a lower bid and potentially get considerations on closing too.
Second, find out if there has been any difficulty with escrow on the property. This is potentially a red flag that may indicate issues with the house or land that arent readily visible. Or, it could indicate a previous potential sale that went south. Both scenarios affect purchase price, as does the homes overall condition. How old is the roof? What kind of plumbing exists? How recent is the wiring? Most buyers who intend to live in a property dont want to have to walk in and spend months fixing it to specs. However, to get homeowners insurance an inspection and code repairs are necessary.
Next on your list find out about other fees. If youre buying a condo there may be association fees on top of your state and school taxes, for example. Keep those add-ons in mind when looking at your bottom line.
Does the property have any easements? Your local building department can locate this information for you. An easement gives someone else use of a specific area on your property. A good example is an easement for a fence. However, you want to know exactly what can and cannot be done in that space before you wake up to a chicken coop.
Asking questions like these help you buy smart. You want your money to go a long way in home buying. Dont be afraid to keep asking questions until you know everything you need to make an informed decision.