1. ‘Why are the owners selling now?’
The responses to this question will give you valuable information that’ll be handy come negotiation time. It can give an indication of urgency or need to sell. Is it for work? Downsizing ? or Divesting an investment?
The answers can be an indication of flexibility and potentially conditions might be favourable over price.
2. ‘Has the seller made any modifications or renovations?’
This can give you an idea if there have been any significant renovations, updates, problems or DIY fixes completed on the property that could save or cost you money in the future. It could also be worth asking if there are any existing pre-approved extension or subdivision plans or council restrictions or covenants on the property. It is an agent’s responsibility to disclose any information that the Seller has provided during the listing process, failure to disclose comes with harsh penalties.
3. ‘Do you have recent building inspection, soil and survey reports?’
it’s smart to pay your due diligence by requesting condition reports on the property. So, request a copy of the building inspection report and soil and survey info to see exactly what you’re buying. You, can also request to have your own building inspection report completed, this would usually be wise prior to an Auction (if reports aren’t available) Copies of the Form 21 will also save Dollars on Council Searches.
For more information about the difference between a building inspection and a Form 21 or my full list of Buyer Tips at an Open Home, email today. info@leannegillam.com