Questions to Ask Before Buying UK Property
If you are thinking about purchasing UK property, it is important to know what questions to ask before signing on the dotted line. Questions like “What am I buying?” and “How much will it cost?” are all important, but there are some other things that buyers might want to know as well.
Buying a property is an important decision. You want the best deal possible, so it’s helpful to know all of your options ahead of time and walk away from this purchase knowing exactly what you’re getting into before signing on any dotted lines.
When talking to an agent or checking out UK property, here are the questions that you would definitely have to ask:
- Why is the home owner selling their property?
The reason people sell their homes could reveal something about the property, and it may also give you an insight into what they’re going through. For instance, if an owner is desperate to unload because work has them overseas then there’s usually not much negotiating power left in that situation so make sure you get everything written down before signing anything.
It is known that sometimes people will sell their house to get out from under an uncomfortable situation. The circumstances of the sale, such as being desperate because work or personal problems might make someone more willing and able than usual in negotiating a good price for themselves.
2.How long has been the property listed on the market?
If the agent is evasive about offers and won’t share information on how long it’s been for sale, be suspicious. Other prospective buyers may have picked up problems that you’ve overlooked or overpriced properties can stay unsold because of a lack in demand by potential customers who are looking at homes like yours with an asking price above what they’re willing/able to pay (in most cases).
If you’re thinking about buying property in the UK, be sure to check with the Land Registry website beforehand. This way if there have been any changes in value since your last inquiry, they’ll know before placing an offer on something that may now be worth less than what was originally thought.
- How did the seller decide on an asking price?
A reliable agent will give you reasons for the asking price, which helps in judging it. If they say that their client overvalues properties or there is something wrong with it and henceforth recommend against buying this house at all costs then just forget about them because those agents have ties of some sort to crooked businesses who want nothing but money from us without providing any help whatsoever.
- Can you speak to the sellers?
Agents are trained negotiators, but they can’t stop you from speaking to the sellers. The best thing an agent could do is let go of this idea that their clients know what’s best and worst about a house before they get into any negotiation with them.
Homeowners just give honest answers because they are not professionals in selling their homes like real estate agents. However, if you want to get to know the property deeper before actually spending money on it, it’s best that you be allowed to talk to the current owners.