Hi everyone,
Need help with questions to ask the vendors so as to make sure the property isn’t attached to any neighbour probs and things like that. You know, the disclosure thing. If you don’t ask, they don’t tell…Can anyone help me with the questions they ask the vendors they deal with? I’ll start off with a couple I can think of.
Is there currently any court orders associated with the prpoerty?
Are the neighbours nice?
Has there been any problems with neighbours or anti-social issues in the area?
I could go on for a bit, but I would like for your input to make sure I am on the right track. Cheers.
Steph.Here for a good time not a long time, just do it!.
Cremin,
I wouldn’t waste my time asking the vendor if it is a nice area etc, they can easily lie as they have a vested interest. In some contracts for sale it stipulates that the Vendor has to provide you the names of ajoining neighbours if you ask. I would certainly do that. Then rock up on a weekend and see if anyone near the place is out in the front lawn and are willing to have a chat. If you can pick the right type of person (old people are normally the best) then you can get all kinds of info as long as you are polite and don’t pry to much. I have found that if I say I am looking at buying the house people are more than happy to help.
With regards to making sure the property isn’t attached to neighbours property, that is a tough one and wouldn’t mind someone else fielding that, I am buying a house and land package and there are heaps of things in the contract about the Vendor having no responsibility if the fence isn’t on the property line etc, I am not sure where to start checking those kind of things???McDeyess
Hi Cremin. Is this property to be your PPOR or for investment purposes? To me the most obvious question would be why are you selling? Also, a problem to one person may not be to someone else, for example, when I bought my PPOR the vendor told me that he avoided the next door neighbour because he talked too much. That was a problem for him but I don’t mind a chat so it is not a problem to me. Probably a frivilous example to use but what I’m trying to say is no matter where you buy, there is going to be good and not so good aspects to consider. If this is for an investment the “worry factor” is even further reduced.
Take care
Marty
Sometimes the neighbours comments do have to be taken with a grain of salt. When selling an IP this year, neighbour called out to say it was overpriced, and even rang me to say that her property would be worth more – well it would have been if it wasn’t such a mess – it was bigger that’s all. I did get my price, no quibbles and the purchaser got a good property with a great tenant.
The most effective question to ask is WHY is the vendor selling. If they won’t answer that, then find out what they intend to do, where they are going – u never know- u might be able to wrap them another one of your properties!Thanks for your input people!
I had thought of the WHy are you selling qn, I just forgot to put it down!!!Maximus, it would more than likely be both. I would ask the same questions for my house or an IP.
Anymore answers???
CHeers
steph.Here for a good time not a long time, just do it!.
to ask the agent –
“I know what the list price is, but what’s the *real* price???”
often the answer, “well I know the vendor wants at least XYZ for it” will be (a lot!) less than the list price, so consider that the new ‘list price’ when formulating your offer
“if I buy this as an investment property, will you property manage it?”
I swerved away from one great-looking property in a city in NZ when the agent answered ‘wouldn’t touch it. We used to manage that property and had nothing but trouble.”
Questions to ask a different agent -“what would this house rent for?” and ” what’s this area like?” and “what’s rental demand like in the area?”
because the selling agent might tell you a figure which is too high, and talk up the area and rental demand
cheers-
MiniCHeers Mini,
you have given me some good ideas. Thanks to everyone for hteier contributions. I have some good ideas for questions to ask now.Steph.
Here for a good time not a long time, just do it!.
Also saw in a Jenman book (dont sign anything)
that after having a look at the property, you
write down for yourself the maximum you will pay
for this house/unit and stick to it, not going
even a dollar above it.Sach you up late!!!
Its quarter to five in the afternoon here in london!Cheers for the tip. Yeah, we will plan to do that when we eventually get back to Aus.
Steph.Here for a good time not a long time, just do it!.
1:50am in Aus (Thursday). yeah can’t sleep.
where in London? man i would love to watch a
live english premier league match sometime, having
never left Aus ever. hehehesouth London, Mitcham. A little dodgy but not too bad. IT’s ok for what we want. THe cheapest we could get really.
I mean, we lived with 13 other people at one stage, and that was in a place that was basically hell on earth.
Oh well, gotta live to learn.
Went to a Crystal Palace match. Wasn’t too good. PAlace played like cr*p.Where are you in aus??
Here for a good time not a long time, just do it!.
Melbourne, Inner West
yeah Cremin i hear that david and victoria beckham
are huge in UK always in the papers n news unlike
Oz.Yeah, you get sick of reading about them. We have pretty much given up on reading newspapers and watching the news coz all you hear is that someone has been murdered or kidnapped or assulted or something. I mean, the day before my birthday (A couple of weeks ago) this girl was murdered a couple of streets away from where I was attending a party. Certainly gives you the heeby jeebies….
Here for a good time not a long time, just do it!.
Gotta go sach. Gotta take the kids I am looking after home. Will see you on forum another day.
Cheers for the chat.
Steph.Here for a good time not a long time, just do it!.
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