7 questions to ask before buying a home
As you prepare to buy a home, ask yourselves these questions before you make an offer.
What is this property worth in today’s market?
Compare prices of other homes for sale in the area to determine what the property is worth.
How flexible is the seller on the asking price?
Ask the seller's agent how firm they are on the price of the house.
What’s wrong with this house?
Don't be afraid to ask what is wrong with the house.
Is this home in a flood plain?
Living in a flood plain can require flood insurance which increases the cost of living for that home.
Will the lender allow a short sale?
Wwhen a home is advertised as a short sale, the buyer should ask whether the lender has agreed to allow the home to be sold for less than the outstanding mortgage amount."
Are any foreclosures for sale in the area?
If there are foreclosures in the area then you might be able to offer a lower price due to the competitiveness of pricing.
Do you have the paperwork for the mechanical systems?
Ask the seller if they have the paperwork and manual for all major appliances and maintenance systems.