What to ask at a property viewing.
Are you looking to buy a property? Don't make any offers until you have the answers to these crucial questions.
When searching for a new home, most of us will create a shortlist of properties that interest us and arrange to view them. But what should you do at the viewing appointment?
Of course, you must look at the property and decide if you like it and want to buy it. Could you see yourself living there? But this is just the tip of the iceberg. There are crucial pieces of information that, if you know the answers, can assist with your offering process. Ironing out those questions at the viewing appointment makes sense to ensure that you are armed with all of the information before making any decisions or offers.
These 12 questions are essential to ask; the answers will help you shape a sensible offer and negotiate effectively.
1) Why is the owner selling?
Understanding the sellers motivation to move is essential. Are they relocating for work, need more space for a growing family or perhaps a downsize?
2) What price is the seller looking for?
You will often find that the marketing price and the selling price of a property are different. Whilst you will probably not be given a figure that the seller will definitely accept, you may be able to find out how negotiable the sellers are.
3) Have the sellers already found a new home?
This question will tell you about the timescale of the sellers. It will also tell you if there is time pressure for the sale to complete, which is essential for you to know and ensure that your timescales match up. Is there an urgency for them to achieve a sale before they miss out on the property of their dreams?
4) Is there a chain?
If the sellers have already decided on a property to buy, there may be a chain. The more parties involved in a chain, the more complicated the property transaction and legal process might be, which could impact the timescale.
5) Have there been any offers?
The actual figure of any offers that have been made before is confidential, but it can be helpful to know that there has been other interest so that you can gauge where to pitch your first offer.
6) Have any significant renovations been made by the owners?
If an offer is accepted, you will need paperwork to prove that any significant works were signed off properly. This is useful to discuss at this stage so you know beforehand before making an offer, as it can cause delays with the solicitors later.
7) What is included in the sale?
Items can sometimes be included in the sale or negotiated separately. Knowing what is included with the price will allow you to fully negotiate a deal to include other items you may be interested in.
8) Have there been any surveys?
Whilst the copy of the survey report will most likely not be available for you to read as it belongs to the person who paid for it, the estate agents will be able to tell you if the survey results caused a previous sale to fall through.
9) Listed/conservation area
There are finer details that could impact your life in the property, so it is critical to find out beforehand. If the property, or any part of it, is listed or in a conservation area, this will impact what you can do to the property after buying it.
10) School catchments
If you already have school-age children or are thinking about starting a family, the school catchment area will be vital information for you. Families have moved house altogether to get their children into the school of their choice.
11) Transport links
If you commute to work, the time it will take you and the convenience of the transport links will be significant to you. Traffic will vary depending on the time of day so try your commute at the right time to ensure you are happy.
12) Tenure
If the property is freehold, you are offering to buy the property and the ground it sits on. But if there is a flying freehold or a lease of some kind, then you will be bound by the terms for the duration of your time at the property. You will need to know the details - the length of the remaining period, the cost of the ground rent, and any prohibitive regulations will all impact your ownership of the property.
The answers to these questions will help you understand the property you are looking to put forward an offer on.