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3 questions to ask before buying a property

Are you seriously considering buying a property, after a visit, after a crush? Great! Buying a new house is an important moment in your life.
You've given it a lot of thought and you've already asked yourself a million questions, it's only natural. To help you in your decision making, there are 3 (final) questions you should ask the owner-seller, or your real estate agent before becoming a happy homeowner. Here they are!

Why is the house for sale?

The answer to this question may help you when negotiating the price of the property, and save you a few thousand euros.

"If the seller has already bought a new home, they will be more motivated to sell quickly.

"If the seller is looking to buy a larger property, they may only want to sell to the highest bidder".

"Is it a sale following divorce, separation or inheritance?

Knowing the reason for the sale is valuable information in negotiations, and it is safe to ask.

How long has the property been on the market?

A house or flat put up for sale at the right price - i.e. the market price - always finds a buyer in less than 6 months, or even 3 months for the best objects.

"If a property has been on the market for more than a year, one might question whether the price is in line with its market value."

"Are there any known problems with the property, land or neighbourhood?

"Have there been many visits to the property already, and why has no compromise been signed?"

There could be a problem or defect that you haven't noticed, which could affect the value of the property. It's important to ask the estate agent why the property hasn't found a buyer since it was put up for sale.

What are the projects in the neighbourhood or city?

Looking into the future can also help you make a decision about buying a house or flat.

"Are there any plans to develop infrastructure, services or shops in the area?

"Are there any new buildings planned in the town? Will the town grow in the future?

"Will the area and therefore the property be able to increase in value?"

These questions should be asked to find out what will happen to the property you are about to buy, especially in the event of resale in the future.

Your real estate agent is an important ally in the purchase of a property. He or she will be able to answer your questions, advise you, and make sure that you are a "happy owner"!

What are the property prices at the moment?

Prices are slowing down. Interest rates are rising. What are the trends for the coming months?
Read the analysis
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Written by

atHome

Posted on

14 July 2016

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