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Questions you Should Ask a Previous Homeowner

Appleton Properties | August 11, 2017

Purchasing  property with two hands and key

The search for a perfect home can often be a time-consuming and tiring effort. By the time you’ve found the best option, chances are, you already know everything you need to know about the house.

Before you decide to close the deal however, it’s always a smart move to talk to the seller, in case you haven’t done so. This will allow you to gain a better insight on the property, and find out a few more details you may not have been aware of, helping you make a better decision.

Here are some of the most important things you should ask:

What’s your reason for selling?

People have various reasons for selling. It may be because of retirement, a new job, a life event, desire to live in a larger or smaller house, or some other reason. Knowing the reason why a seller is planning to relocate may give you an idea of how much room you have for bargaining during the negotiation period.

Depending on the seller’s reason, you may be able to haggle for a lower price, if he or she is needs to relocate as soon as possible.

What was the home’s price when you bought it?

How much the seller originally paid for the home can prove to be valuable information. It can give you a better picture of the local market, as you’ll know whether or not values have gone up or down.

Knowing how much the seller paid for it will also give you insight you can use during negotiation – in case they purchased it at rock bottom, chances are, you may be able to negotiate a lower price since they’ll still be able to make a profit. If it’s closer to the asking price however, this may mean you won’t have enough wiggle room to negotiate.

How long has the home stayed on the market?

The home might be priced too high if it has stayed in the market for an extended period. A listing is considered “stale” if it has been available in the market for a long period, which can make it more difficult to sell, since it could mean buyers found issues with the property.

If a home has remained available on the market for a long time, you might be able to negotiate a lower price for it.

What’s the neighborhood like?

You’ve already gathered information on the house, now it’s time to know more about the neighborhood it’s located in. Ask if the seller if there are any issues you should look out for, such as noise, traffic congestion during rush hour, unruly neighbors, or other potential problems.

While the seller may not give you a detailed answer, it still helps if you try to find out before you go ahead with the purchase. You may also try visiting the local police department and do some research on the neighborhood’s crime statistics.

Need more help searching for the perfect home in Washington DC, Maryland, Virginia or Boston, MA? Get in touch with Appleton Properties Real Estate by calling 301-652-2707 or 202-888-4846. You can also send an email to info(at)appletonproperties(dotted)com