20 Questions To Ask Your Agent Before Purchasing With Them
Many individuals often buy homes that seem just like their ideal home, but they subsequently regret it when issues start to crop up one by one. Asking the real estate agent as many questions as you can before buying a house is an excellent way to prevent this.
Identifying the REAL DEAL of Questionnaires
When someone is buying a home, a real estate agent frequently emphasizes the advantages of the property while seldom mentioning any drawbacks. But if purchasers ask the right questions, brokers are obligated by law to provide truthful information. Therefore, before buying a house, purchasers may ask their real estate agent the following questions in order to avoid any disaster.
1) Why is the owner selling this property?
Although this question does not ensure the right response, it does provide many indications. You have the chance to haggle for a lower price if the owner says things like "the owner is anxious to sell" or "the owner is leaving the country."
2) What is included in the sale?
Before buying a house, make sure you are fully aware of the sales' contents. A good question to ask the realtor is if the owner is selling the house completely furnished or unfurnished and whether any furnishings and fixtures will be included.
3) How long has the property been on the market?
Ask the agent why the property isn't selling if it has been listed for more than three months and if there is an issue with the house that the agency is not aware of. For instance, overpricing could prevent a sale. As a result, if the home has been on the market for a while, you have the chance to negotiate for a lower price, which the owner may agree to.
4) How long has the owner lived there?
It's possible that some owners lived in the home for a very long time. However, enquire as to why if the owner has just been there for a short while from the agency. There may be a number of factors to consider, such as loud neighbors or a haunted house.
5) Has the property repetitively changed hands?
There can be a significant issue with the property if it has been sold frequently. Find out the reason the former owners left in such cases, and if required, get in touch with them.
6) How was the asking price fixed?
The agent will explain the pricing structure if the house is reasonable. In the case that the home is expensive, some brokers may claim that the owner is overestimating the value of the property. As a result, make an effort to study the region, find out the transaction value of the nearby properties, and determine whether there are any other properties for sale there.
7) What is the possible minimum price the owner is willing to accept?
Asking the right inquiries might reveal that the owner's fixed price is sometimes changeable. As their primary goal is to sell the home even at a reduced price because they are not paid if they don't sell the house, some real estate brokers will really inform you in the event of probing. Therefore, some people wouldn't mind being honest with you and selling the house for less.
8) Are there any other offers so far?
When asked such questions, you can count on the agent to give you an honest response, but the sum that was offered won't be made public. However, you may always try your luck because learning about the competing offers will make choosing your offer easier.
9) When will the sellers move out?
Find out if the sellers are going to move out or if they have already found a new place to live. They may be able to locate an urgent buyer if they have already moved out or are going to do so. However, it increases the question if they are still residing there.
10) Can I speak directly to the seller?
Most of the time, the agent would rather prevent you from speaking with the owner directly. But if you insist, they can't stop you. Owners, as opposed to agents, are more forthright in their responses since they are regular individuals just like the purchasers. Most people will respond to this question with an open, sincere response.
11) Which way does the property face?
Typical Malaysian beliefs include Vasthu Sastra, Feng Shui, and many more. Find out which way the property faces, and make sure it fits with your ideals. Such factors ought to be taken into account before making the purchase, not later.
12) Has any major renovation been done in the house?
If so, check to be sure the house hasn't been illegally extended. Before buying a home, speak with the local council because it might be difficult to demolish part of your house immediately after purchase.
13) Roughly how much are the taxes, insurances, and recurring bills?
Even if the costs of your water and energy bills may seem insignificant, you should nonetheless ask about them because they will be repeated each month and add to your burden. Additionally, obtain the numbers for the Indah water utility bill, maintenance costs, home insurance (fire insurance, homeowners insurance, and householders insurance), Quit Rent (Cukai Tanah), Property Assessment Tax (Cukai Pintu), and Mortgage Insurance (MRTA | MLTA).
14) How old is the property?
You can roughly estimate the cost of maintaining the residence using this information. Upkeep costs for older homes are frequently high.
15) Have any of the rooms been revamped recently?
To hide moisture or cracks, individuals frequently repaint or renovate a space. Additionally, look for leaks.
16) How noisy are the neighbors?
Most of the time, the agent won't divulge such information. However, the agent will be required by law to reveal the truth if there is a dispute between the owner and the neighbors that have reached the point of filing a police report.
17) What can you tell us about the neighborhood?
Ask the agent about the area's crime rate, the kind of infrastructure, amenities, and services that are offered there, as well as how awful the traffic congestion is. In addition to consulting the agent, it is wise to conduct your own research about the area.
18) Are there any facilities, amenities, or infrastructure that are about to close down?
Ask the agency whether they have any such details. If a crucial facility or amenity close by is shut down, it could devalue the residence. Such news could be known locally, but you might not hear about it. For instance, if a local mall closes, it can affect a house's value.
19) What are the upcoming developments in the neighborhood?
The realtor must inform you even before you inquire whether there is a positive development that will contribute to increasing the value of the property. Ask the realtor if there are any impending projects in the area that may have a negative effect on the home. If there is undeveloped property nearby, a high-rise building nearby that may increase traffic there or obscure your view, or a sewage plant opening that would make it difficult for you to sell your home in the future.
20) Is there a cemetery or a sewage plant located nearby?
Look around the neighborhood for any unfavorable aspects. It is possible that a cemetery next to the home has negative energy or terrible Feng Shui for a home. A sewage facility is also. These might make it difficult to sell your home later on. If these are still acceptable to you, though, you may use them as a negotiating tool to get the price even lower.
Before buying a property, always feel free to ask your agents as many questions as you want and make sure you have all of your questions answered. During your house tour, jot down your questions on paper so you won't forget any of them.
BY JEREMY CHEN | Updated July 10, 2022
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Blog: Jeremy Chen
Website: PropertyGuru
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