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Ask These Questions Before Making an Offer on a Home

On Behalf of | Oct 2, 2019 | Firm News |

Since buying a new home involves a large investment, you want to be sure that your investment is a safe one. To ensure the home you’re looking is a great deal, ask these questions of the seller.

Ask These Questions Before Making Your Offer

If you’ve been searching for the perfect home for a while now, you may be getting frustrated at how long it’s taking. Instead of putting in an offer on a home that seems fine just to get it over with, stop and make sure the home is actually a sound investment. Dig a little deeper by asking these questions of the seller.

Why Is the Home Being Sold?

A home can be for sale for any number of reasons, but it’s never a bad idea to investigate why a home is being sold. In some cases, the home may seem perfect, making you wonder why someone would ever want to sell it. The seller may not reveal that the location isn’t great or that it has serious foundation issues, but these things will eventually come to light. In other cases, you may learn that the seller is being forced to move for work, giving them no choice but to sell. In the end, the information you get can be used to help you snag the home. For example, if the seller has to move soon, then you’ll know they’re eager to sell. This can help you negotiate on the price of the home or you can put in a good offer quickly before other buyers find out it’s on the market.

What Factors Were Considered When Pricing the Home?

As a buyer, you may feel like sellers are trying to trick you into paying more for a home than what it’s actually worth. This is a very real thing that can happen, so before taking the asking price as the only option, ask how the seller determined the price. They should be able to justify the price so that you know they’re not asking for much more than what’s it’s actually worth. You’ll also have to do your own research to make sure the home isn’t overpriced by market standards. If you think they are asking for too much, do your best to negotiate on the price of the home but have your reasons ready.

How Long Has the Home Been on the Market?

A home that seems perfect but has been on the market for months should make you feel a little bit weary. If the home isn’t getting much attention from potential buyers or if it is getting attention but isn’t getting any offers, this can mean there’s something wrong just beneath the surface. Ask about how long the home has been listed, how many offers it’s gotten, and why it isn’t selling. If the seller is eager to sell, this can help you get the home at a lower price. Once you find a home that you’re sure is right for you, don’t close on it without first purchasing title insurance in Westborough. Not only can title insurance make you feel more at ease as you move into your new property, but it can also keep you protected should any title issues come up while you’re the homeowner. To learn more about the importance of title insurance, contact the title insurance experts at Home Key Title at (508) 475- 5502.

What Does the Price Include?

When you’re looking at a home, it can be easy to assume everything that is in the home is included in its price. This isn’t always the case, so be sure to ask instead of assuming. It’s also a good idea to ask what else comes included in the asking price while considering the additional fees you’ll be paying by the time you’re closing on the home. You may be able to negotiate here, especially if some basics aren’t included in the deal.

What Condition Is the Home In?

The seller may not outright tell you that the home could be in better shape, but they should be honest about any repairs the home needs or any recent repairs they made on it. Don’t be afraid to ask about maintenance through the years and ask for records so that you’re sure the home has actually been taken care of. Ask about any roof work that has been done, when the boiler was last replaced, or if there have been any foundation issues. It’s always a good idea to ask about warranties on these larger items just in case.

Get Title Insurance in Westborough

Protect your investment by getting title insurance in Westborough at closing. Not sure what title insurance is? You’re not alone. Luckily, you can contact the title insurance experts at Home Key Title to get your questions answered. Give them a call at (508) 475- 5502 for more information.