hi i am just wondering about questions to ask when inspecting a property
i made my own list to save people time i am just after if people can please add to my list. any help would be greatly apprectated. thanks in advance
my list
is the house currently occupied?
is the house currently leased?
how old is the house?
how many square metres?have a good day all
Why are they selling?
How long has it been on the market?
Are their any comparable homes for sale nearby?
What could or does the home rent for?– If property is tenanted you could ask how long the tenants have been in there for (eg if they have been there for some time gives you an indication they are happy with building, neighbours etc)
– Have any improvements been made to the house (and if yes ask to see council approvals for these- friends of mine learned this the hard way)
– Have the tenants requested any repairs that haven't been seen to yet by the current owner?
– What is the zoning and are there any building restrictions on the property
– will the owners negotiate on priceA few questions to add to the inventory.
* Are you aware of any issues with this property? Agents have a legal responsibility now to disclose in QLD. Try and get a copy of any building report on the property.
Regarding price… And buying well is very important!
Be friendly and listen closely, praise the agent's knowledge and just basically appear like an enthusiastic non threatening buyer.
A few ideas for probing for useful information, almost always you can gain significant concessions just by asking till you get what you want. (Try not to be annoying)
* What is the seller negotiable on?
* Will they consider longer settlement/lower price?And a personal favourite…
* My budget is X$, would I be wasting both of our time by looking at this property? (X$ being less than you are prepared to pay and much less than what the property is listed for!), repeat question with different figures for X$ and different wording in future conversations
Ask if seller is open to a quick settlement or extended settlement (choose the one YOU want).
Is rental lease expired (if one). What's their rent and what is market rent? When was the last rental increase. Check on Realestate.com to see what rents should be.
Rental demand in area? Although most selling agents don't know this info. Speak to the rental agent. Friends recently bought properties and now having difficulty renting them. You need to know this "before" you buy.
Strata fees (if applicable). Some can be mind boggling. Strata issues known? You'll need to do a search if you decide to purchase to check this anyway.
Ask to look at the contract. Even if you are not that savvy with contracts look at the special conditions (may be something that doesn't suit you to purchase) and land map (to see easements etc).
Can't think of any more at the moment.
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