Buying or renting a flat is a big decision that requires a significant amount of research and due diligence. One of the most important steps in the process is working with a real estate agent who can guide you through the available options and help you make informed decisions. When viewing a flat with an agent, it’s important to ask the right questions to ensure you have all the information you need to make an informed decision.
Questions to Ask about the Flat
When looking at a flat, it’s essential to ask specific questions about the property to ensure that it meets your needs and expectations. Here are some list of questions you should ask:
1. What’s the history of the property?
Ask the agent about the history of the property, including
- When it was built?
- How many previous owners has it had?
- Why is the present owner selling the property? how long have they lived there?
- How long has this flat remained on the market?
- Has the value of the property changed recently?
- Is this property a leasehold one? How long is the lease period? What is the ground rent and service charge?
- Whether have been there any major renovations or repairs?
This can give you an idea of the condition of the property and any potential issues to look out for.
2. What’s included in the sale or rent?
Find out exactly what’s included in the sale or rent of the flat, such as appliances, fixtures, and furnishings. This can help you understand the property’s value and what you need to budget for additional items.
3. What is the flat worth?
Ask your real estate agent for the high and low prices of similar homes in the same neighborhood to help you make an informed offer on a property. These are called “comps” or comparables.
4. What are the seller’s disclosures?
To ensure transparency, a seller is legally obligated to disclose any major issue with the property. Ask your real estate agent for such disclosures to determine the state of the home’s appliances and systems before making an offer.
5. What’s the neighborhood like?
The agent should be able to provide information about the local neighborhood, including nearby amenities, schools, public transportation, crime statistic, whether the neighborhood is noisy, and the like. This can help you assess whether the location suits your lifestyle and needs. Also, consider which local plans will affect your property in the future.
6. What’s the parking situation?
If you own a car or plan to purchase one in the future, it’s important to find out about the parking situation for the property. Ask the agent whether there is a designated parking spot, whether there is street parking available, and whether any parking permits are required.
7. Which way is the property facing?
Consider the orientation of a house before making a purchase. If you enjoy sun-filled mornings, ensure the home faces southeast. Similarly, if you plan on using a terrace frequently, consider a property that faces the right direction to enjoy the sun at the desired time of day. Evaluate which rooms you will use the most and their orientation to make an informed decision.
8. Is this property listed in a preservation area?
When considering a property, it is crucial to ask whether it is listed, situated in a conservation area, or subject to any covenants. Purchasing a listed property can severely limit what you can do both inside and outside the home. Similarly, living in a conservation area may come with specific restrictions that you should be aware of. It is also important to ask about any restrictive covenants that may limit your freedom to modify or use your new home.
Read also: Best place to buy a ready flat
9. How is the water pressure there?
When viewing property, test the taps and flush the toilets to ensure they work correctly and water flows freely. Check the water pressure in the shower and how long it takes for the water to come through. And Speaking of water heater, it’s best to make sure yours is big enough to keep your family from having daily shrieking fits as the hot water gives out mid-shower. These details may seem insignificant, but they can be a significant inconvenience if not functioning correctly. It’s not enough to rely solely on the estate agent’s information, so it’s advisable to conduct a survey when purchasing a property.
10. Are there any pending or upcoming renovations to the building?
It’s important to ask the agent about any pending or upcoming renovations to the building, as this can impact the value of the property and your quality of life. Find out whether any special assessments are planned and whether there are any major repairs needed.
11. What are the utility costs and property tax?
You need to budget your finances to ensure you can afford a home. Start by getting prequalified for a loan to determine your monthly mortgage payment. Again, knowing the property taxes and utility bills can help you plan for the extra hidden costs. Check out a worksheet from a reliable home warranty company on calculating your affordability here.
12. Do the mechanical systems have any paperwork?
Request for paperwork on the home’s mechanical systems and appliances to ensure they are properly documented. This documentation is especially important for new homeowners in case something breaks down, as it helps determine if the major systems are under warranty and what repairs and parts are needed. Having proper documentation is also imperative for home warranty insurance to know the cause of a failure, making it easier for homeowners to get coverage for repairs.
13. What’s the policy on pets?
If you have pets or plan to get one in the future, it’s important to ask about the policy on pets in the building. Find out whether there are any restrictions on the type or number of pets allowed, and whether there are any additional fees or deposits required.
14. What’s the maintenance schedule for the property?
Ask the agent about the maintenance schedule for the property, including when routine maintenance is scheduled and how any repairs are handled. This can give you an idea of the level of care and attention the property receives.
15. Is there any problem with the generator?
Confirm if there have been any issues with the generator. Please get information on any problems encountered. Also, get the dates of the last service and installation of the generator.
16. What is the condition of the drains and gutters?
The cost of replacing drainage can be unexpectedly high. Moreover, it would be unfortunate to replace the attractive lead gutters. I suggest taking advantage of rainy weather to inspect for any potential leaks.
17. How are the network coverage and broadband signals?
We recommend inquiring with the estate agent regarding their knowledge of local broadband providers and the quality of signal available at the new address. Again, it would be prudent to verify the information using a reliable broadband and mobile coverage checker.
18. When the sellers will move out?
Consider the seller’s situation when making an offer on a home. If they need to sell quickly to move for a new job, they may be willing to accept a lower offer than their asking price range. However, if there is no urgent need for the sellers to vacate the property, you can take your time to inspect the home thoroughly and ensure there are no significant issues with the systems and appliances.
19. What’s the negotiation room?
Find out whether there is any room for negotiation on the price or terms of the sale or rent. Ask the real estate agent whether they have any offers. They can’t exactly tell you what are the offers but they can hint to you whether they are above or below the market price. This can help you determine whether the property is within your budget and whether you have any bargaining power.
20. Can you have a direct conversation with the seller?
Typically, estate agents may not be enthusiastic about the idea of you directly communicating with the sellers, as negotiating is their responsibility. But speaking with the sellers can provide you with valuable insights. Since they are not industry professionals, their responses are often candid, which agents might find surprising. Again, you can ask them for their best and worst points about the property, which can give you a more comprehensive understanding of the house. The most crucial part here is that it can accelerate the purchasing process.
Final Words:
Here, we’ve tried our best to come up with the most vital and helpful questions for you. From this entire discussion, you must have become well-equipped with the knowledge about what questions to ask a real estate agent when looking at a flat. If you have further queries and need additional assistance, please contact Best – Tech Properties Ltd.
Frequently Asked Questions
When viewing or buying a house, it’s important to remember what not to say. Avoid revealing your maximum budget to the agent and refrain from displaying your level of interest, as maintaining a neutral demeanor can help in negotiating effectively.
Viewing a property multiple times before making an offer is typically a wise decision. While the number of times can vary between individuals, it is generally advised to view a house at least twice or up to four times. However, you should do what feels appropriate for your specific circumstances. Consider asking the estate agent when you schedule your next viewing while viewing or purchasing a property.
One of the crucial questions to ask while purchasing a property is, “Can I obtain a property sales report?” These reports are important because they will give you insights into how the property value complies with the local market price. It is essential to ensure that the property you are buying is priced fairly.