Whether you are moving or purchasing your first ever home, it’s an exciting time. Nonetheless, sometimes, the excitement can take over and you forget to ask pertinent questions before committing to a deal.
Asking questions helps you to gather information. It also throws up any potential red flags that mean this deal could be one to walk away from. Failing to ask the right questions could result in you ending up in legal battles further down the line.
Here are some important questions to ask before buying your next home.
Why is it for sale?
When the seemingly perfect home comes on the market, it’s easy to get carried away and rush right into making an offer. But, it’s important to find out why the property has been placed on the market. Usually, there are innocent reasons for this. For example, the owners may simply be relocating for work purposes. Or, a family may be looking to downsize after some of the children have grown up and moved out.
Unfortunately, there are also occasions where a home is put up for sale due to defects. The owner may be aware of structural defects and does not want the responsibility of fixing them. While this sort of information should be disclosed to you, it doesn’t always happen. That’s why it’s important to ask plenty of questions about why the home is on the market.
What is included?
Many property purchases contain more than the house itself. For example, there may be lots of land around the property, a pool, a large car park and so on. Or, you may initially think that the sale includes furniture and appliances, but this may turn out not to be the case. You want to clarify exactly what is included in the sale before buying.
Have there been other offers?
It’s also important to find out about the interest that has been shown in the house. If there have been lots of offers, you may end up in a bidding war or potentially a legal dispute. For example, if the owner verbally accepts your offer but proceeds to accept a higher offer from another bidder.
Buying a new home is exciting but it’s also a legal process that requires careful consideration. Seek legal guidance before signing up to any binding deals.