Questions to Ask Before Closing a Deal with Your Real Estate Agent

Prosperous real estate investors will always know which questions to ask. When buying a property, home buyers and investors can't just do a lot of research on the house independently. Some of the most important pieces of information might not be available. One way or another, real estate agents should have all of the most important answers. Home buyers and investors who have a sense of the risks involved with home buying in the first place will be more likely to ask the right questions at the right time.

Learn About How Frequently the Property Has Been Purchased and Sold
Some properties are very difficult to sell. If a property has been unsold for four months or more, it's usually a bad sign. If the house was bought and sold over and over again within a very brief period of time, potential home buyers should also be concerned.

There might be issues with the property itself, the area, or the neighborhood, and those problems might not be immediately obvious. The person who actually purchases the property might find out about those issues when it's already too late. Even if it doesn't look like there are any specific problems with the house, buyers will still need to confirm that the house is in good shape through a series of questions.

Buyers Should Know the Age and Condition of the Property
Houses that have been decorated or remodeled recently might have some problems beneath the surface that the home buyers themselves will have to address. It's possible that the sellers will just be interested in adding value to the property before they sell it, and there is nothing suspicious about that.

However, if the property has been remodeled again and again over the course of the past five years, there might be more fundamental flaws that will need to be fixed. Home buying is expensive enough as it is, and buying a property that has a lot of problems is very risky.

Investors should certainly ask about the boiler, the heating system, the gutters, the air conditioning system, and the plumbing. Issues with those systems are often very expensive and difficult to fix. These can be awkward questions to ask, but most real estate agents will be able to provide some of the insights that buyers and investors need.

The Story Behind the Asking Price Might Be More Complicated Than Home Buyers Think
Sellers might actually be willing to accept prices that are lower than the asking price. Real estate agents obviously aren't going to tell people this unless they ask. However, in some cases, the asking price was selected for arbitrary reasons.

If the real estate agent and the sellers did choose the asking price for good reasons, they should be able to explain those reasons in detail. Home buyers and investors will be able to learn a lot about the property in question as a result. They might get plenty of their other questions answered in the process. If not, they'll be more likely to negotiate with the real estate agent effectively. Buying a property is partly about communication.

It's just as important to ask about the other offers that are on the table. Investors who are competing with other people for real estate offers might have to go above the asking price. They probably won't be able to get below the asking price, at any rate. However, their offer also might literally be on the only offer that is on the table. If that is the case, they should use that to their advantage. Home buyers will never know that this is the case unless they ask.

Home Buying is Never Just About the House
Buyers can certainly research neighborhoods on their own. However, real estate agents will usually know some things about different neighborhoods that might be difficult to find otherwise. There are lots of important questions to ask that will relate to a home's neighborhood, but home buyers can often get good results by asking open-ended questions. Letting real estate agents talk about a given neighborhood is often effective enough. Home buying is all about preparation. The people who are buying a property just need to make sure that they have been thorough.