Seven questions to remember to ask your estate agent about a property
Buying a house can be long and complex, whether you’re a first-time buyer or have more experience in the process. Knowing the right questions to ask will make your experience a lot easier…
Why is the property on the market?
Learning why a property has been put up for sale can be a great start in learning about the pros and cons. Is it an innocent reason – maybe the sellers have outgrown the property or perhaps they’re downsizing – or is it something of a red flag – such as structural damage, a pest problem or unsavoury neighbours?
How long has it been on the market and how much interest has it had?
If a property has been on the market for a long period of time it could be a cause for concern. Make sure you ask your Romford estate agents why this is the case. It could also just be that it’s a particular property waiting for the perfect owners/ tenants. Gaging the interest is always a good idea too; property is a competitive space and it helps to know what you’re up against.
How old is the property and when was it last renovated?
Older properties can often involve more maintenance costs in the long run, so finding out when it was built can help you think about this. Also ask if there has been any recent renovation work – it can help rule out these things from your to do list after moving in.
Are the sellers part of a chain?
It is frustrating that the success of your property transaction can largely depend on the success of the seller’s transaction and the success of their seller’s transaction and so on. Understanding what other things will influence the completion of your deal is important.
How long have the sellers lived there and is it possible to speak with them directly?
If the sellers/ previous tenants have lived there long term then that is usually a good indication of the quality of the property. If the property has a high turnover, then that could be a warning sign. If this is case, find out exactly why.
It’s always helpful to ask your estate agent if the sellers/ tenants are happy to speak directly with you. If they are, the estate agent should help facilitate this. A direct conversation can help you feel more at ease about any red flags.
What are the neighbours like?
Although it is not technically part of the property, understanding who the neighbours are is important for most potential buyers/tenants.
Find out what kind of people the neighbours are – are they elderly, a young family, students? Do they own the property or are they renting? Does the property have a high turnover rate and, if yes, why? Have the sellers ever had to lodge any noise/ other complaints against them?
What is the local area like?
Scope out the surrounding neighbourhood by finding out about the amenities, shopping facilities, transport links and schools. You might also want to consider the safety of the area; what is the crime rate and has the specific property ever been burgled?
These seven talking points should be a great starting point in getting to know a property. Remember to never be embarrassed about asking to many questions and get as much information from your estate agent as possible.