10 questions to ask your agent before buying a property

10 questions to ask-your agent before buying a property

Real estate investment is full of risk venture. The best way to embark on this perilous and full of uncertainties journey is to use the services of an agent who will guide you about the property types, prices and the area which has potential. An agent’s obligations include answering all the questions/ queries and doing transparent dealings. Getting the help of an agent will not only make you a confident buyer/seller but will also enable you to make the most money-spinning decisions regarding your investments. However, relying on your agent, all the ways can put your money, time and invested energies at risk. So, in order to accomplish prolific results ask following questions from your agent before trusting his advice and the property suggesting to you:

  1. Are you a licensed agent?

In order to save yourself from future scams make sure that the agent is licensed.

  1. Are you an experienced agent?

Experience is an indispensable trait of an agent. If he has not spent some time in the market and has not explored it yet, then there is no point in hiring him.

  1. What are your fees?

Before opting for his services to ask about his fees. Opt for his services if he is experienced and has adequate experience as an agent. Do not go looking for agents with reduced fees as in most of the cases cheap fees imply inexperienced agents.

  1. What services are included in the package that you are offering?

Do not hesitate to ask the agent about the package of the property that you are endeavoring to buy. Although the advertisement has all the details, there is no harm in asking for clarification as it is always better to be wrong than sorry.

  1. How long has the suggested property been on the market?

Ask the agent that for how long the property has been on the market. Are there any flaws in the property? Is the price too high? If you get the answer in affirmation, then you are in for a treat and you can ask for lowering down the price of the property.

  1. Am I supposed to pay any extra charges along with tax?

It is always better to ask all the relevant questions before signing the contract. Inquire about all the expenses that you will be paying for the property and make your future budget accordingly.

  1. Why has the owner put the property for sale?

Asking this question has a lot to do with negotiations about the price of the property. Exploring the seller’s reason to sell the property will give you an edge as you can exploit the cause for lowering down the price.

  1. What is the demand of the seller and how much money will he settle for against the property?

Negotiations are part of every deal that involves money. There is no harm in asking the price proposed by the seller and putting forward a comparatively low price for the property. In most of the cases, the seller revises the price and the buyer is able to save some money.

  1. What is the prospect of the property?

Ask your agent for the details about the adjoining properties and its prices for deciding on the property. Also, explore with the help of your agent’s knowledge of the area that what future projects are foreseeable in the nearby area. Answers to these questions from a professional agent will help you in comprehending the current worth of the property and its future value in a dependable manner.

  1. Can I speak directly to the owner?

Transparency is crucial when it comes to dealings that involve money. So, ask your agent to arrange your meeting with the owner of the property. Some agents are irritated by such requests but remember it is your legal right and they can’t say no to such demands. Meeting the owner and asking him directly about the property will help you in understanding the property better and help you in, exploring those aspects of the property that the professional agents miss out, making your investment secure.

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