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- Your Spring Real Estate Guide: 9 Questions to Ask a Sales Agent When Inspecting a Home
Your Spring Real Estate Guide: 9 Questions to Ask a Sales Agent When Inspecting a Home
Your Spring Real Estate Guide
The spring real estate guide is here – selling season is a huge deal for the property market. With more homes on the market and buyer sentiment at a four-year high, it’s the perfect time to find your next home.
You may have to be ready to make a purchase. Auction clearance rates are regularly over 75%, and property prices increased 0.7% last month. If interest rates fall for a fourth time this year, competition could heat up. So, now is a great time to start looking.
It’s easy to grab the brochure and wander off on your own, but if you’re serious about buying you should use this opportunity to take control of the conversation.
You can learn about recent sales in the area, get a feel for price expectations and find out how much interest the property has had from other buyers.
All this information helps you build a real-time picture of the market and gives you the leverage you need to make a smart offer..
To help you out, here are nine key questions to ask the agent at your next inspection:
- Why Is the Vendor Selling? The seller's reason for moving can be a big clue. If they're relocating for a new job, they might be on a tight timeline and more willing to negotiate for a quick sale. Knowing their motivation can give you an edge later on.
- What are the current price trends for this type of property? This question helps you figure out if the asking price is fair. Ask the agent for a Comparative Market Analysis (CMA), which shows you the prices of similar properties that have recently sold in the area. This provides solid evidence for your offer.
- How has the property been in the market? If a property has been listed for six weeks or more, it might be going "stale." This can suggest to other buyers that there's something wrong with it, or the price is too high. This is a great opening for you to step in and potentially negotiate.
- What's the condition of the property? While a professional building inspection is essential, you should still ask the agent about any known issues that need to be disclosed. Think about things like asbestos, lead paint or old wiring, which can significantly devalue a property and cost a lot to fix.
- How is the condition of the roof? A roof has a limited lifespan, and replacing one is a major expense. Getting an idea of its age can help you anticipate future costs and maintenance needs.
- What's included in the sale? Don't assume anything. It's important to find out exactly what the sellers will be leaving behind. This includes fixtures like curtains, blinds and light fittings, as well as appliances such as the washing machine, dryer, or dishwasher.
- What's the age of the appliances? Focus on the big-ticket items like the ducted air-conditioning unit and hot water service. These are expensive to replace. Also, ask about the kitchen appliances to get a full picture of the potential future costs.
- How much are the utilities? Understanding the average costs for heating and cooling gives you an idea of the running costs. High bills can indicate poor insulation, which is another factor to consider.
- What's the neighbourhood like? While the property itself is key, location is a huge part of your investment. Gently ask the agent about the neighbours. Sometimes, a seller's reason for leaving is due to issues with the people next door, and it's better to know this upfront.
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