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Follow on Google News | Questions to ask before buying a house - Express Estate Agency Explains1. About the property and neighbourhood First, make sure that what you are buying is worth your money and time. Also, keep that in mind that you will not just be living in the house but you will be living with the entire neighbourhood. You need to ask your estate agent about: > How long has this house been on market? > What’s the value of this house in the market? (Do not rely on the asking price; casually enquire about the prices at which similar properties in the neighbourhood are sold.) > Who currently lives in the property? (Is it a rental?) > What are the people like in this area? (Or you can randomly knock on the neighbours’ doors and ask friendly questions. Most people are honest about house problems and let you in on secrets not normally told.) > What improvements you suggest that I make to this house after buying? (This will definitely result in the agent pointing out, if not all, then at least a few problems that might are hiding in the corners of the place.) 2. About the financial handlings You should be extremely cautious about the financial matters involved in the purchase of the house. If you have an agent or agency backing you up, that’s better as they are well aware of these tips and tricks. But the important questions are still to be asked. > Is the seller willing to negotiate? (Even if the answer is no, it’s still worth a shot. What’s better than a lesser price for an excellent house?) > Will I have to pay for the repairs that are obviously needed? (You do not want to be in a false sense of security and lose money later.) > How much do you reckon the utility bills and property tax will be? (Ask for previous bills to make sure.) 3. About the legal documentation Alright! Now, that you are satisfied with what you are going to buy, there is this one tiny problem that you might have to face. It could either be the non availability of legal documents and proper paperwork for the house or legal restrictions or terms that you are unaware of. You need to know: > Are previous home improvement details or insurance bills available? (These will give you an idea about the state of the house.) > Is there any loan due on the house? If yes, what is the seller’s strategy towards it? (Check for all the documentation personally.) > Is there any paperwork available on the mechanical and electronic systems of the house? (It will guarantee that the systems are reliable and working.) In fact, the key point is to be alert and keep your eyes and ears open while making a purchase. Do not get carried away with the outer flash and fancy of the property, investigate properly for your own benefit. For more detail: http://www.expressestateagency.co.uk End
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