As you shop around from one location to another trying to find your dream home, the process can be very tiring. You might be tempted to settle for a home that seems perfect to you and close the deal very quickly. Hey, but that’s not the way to go!
You have no clue as to what may lie beneath the surface and the only person who does is your realtor. It means then that you have to sit with your Champions Gate realtor and ask questions about the house you are planning to make your home.
Ask your realtor these six questions to find out what he is really thinking because that will help you find out if this home is ideal for you.
1. Would you buy this place?
This is the first question you should ask your realtor because it would help you decide whether you need to buy this house. If your realtor expresses any concerns or shows no enthusiasm, ask why. The answer might cause you to reconsider.
2. Does this house have a sales history and how will it affect my offer?
Ask your realtor about the sales history of the property before making an offer. Was it leased? Was it an expired listing before now? Was it a bank-owned property at any time or any other type of distressed home? These issues might tell you that this property was on the market for a long time. What this means is that you get this house at a bargain-basement price. Check this URL: https://en.wikipedia.org/wiki/Real_estate_broker
3. What possibilities do you think are worth having—and avoiding?
When a seller agrees to the offer of a buyer, both of them sign a legal and obligatory contract, which is a legal document requiring both seller and buyer to complete the deal. Therefore, neither the buyer nor the seller can back out as they wish.
The details usually determine how binding the contract is. Some contracts have built in contingencies that allows the seller or buyer to back out of the agreement without consequences. Home inspections and appraisals usually come with contingencies.
You don’t want to turn off sellers by including too many contingencies, so ensure you maintain the right balance and ask your realtor for guidance. For example, if the house is newly built, you may decide it’s all right to waive a home inspection contingency, but you wouldn’t consider this if the home is older and need general repairs. Read here for more on contingencies.
4. Will there be future condominiums or homeowners association valuations?
When you buy a house or a condominium within a homeowners association, you will get the financial documents of the HOA’s, which entails valuable information like reserve funds and CC&Rs (covenants, conditions, and restrictions).
These documents and disclosures can be numerous pages, which can confuse homebuyers, who might forget to check to see if there are any impending valuations. Valuations are recurring one-time expenses paid to the HOA, which is beyond the monthly fee, generally to cover repairs or capital improvements. These will have a direct effect on your once-a-month housing expenses. It means then that you will need your realtor to let you know if these will increase anytime soon. Your realtor has the expertise to navigate these documents and provide an answer.
5. What’s happening in this neighborhood, and how will that affect home prices?
Good realtors ‘keep their nose on the ground’ especially in areas where they conduct business. While the federal laws governing fair housing prevent realtors from making comments on the demographics of a neighborhood, your real estate agent advise you on local market trends and the monetary issues that affect home values.
Ask the questions: Are the home prices falling or rising in the neighborhood? Is the area currently experiencing construction of new amenities such as shopping, parks, public transportation, food outlets?
All these are important and must be considered before you buy a house. A realtor can tell you what is really happening.
6. Can you recommend a home inspector/real estate lawyer/repair person in the area?
You will definitely need the help of local experts. So ask your real estate agent to recommend a home inspector, repair person, real estate lawyer or any other person you may need to help you through and make your home-buying a stress free situation.