Fact-finding questions your real estate agent should be asking

Purchasing a new home is a significant step, and avoiding surprises during the moving process is crucial for a smooth transition. To ensure that you're making an informed decision, it's essential for your real estate agent to engage with the seller and gather valuable insights about the property.

Why is it important for my real estate agent to talk to the seller?

As a home buyer, your real estate agent serves as your representative, advocate, and guide throughout the purchasing process. One of the critical roles your agent plays is interacting with the seller or their representative. This interaction is crucial for various reasons. 

• Information Gathering: Your agent will ask questions to gain insight into the finer details of the home. The seller has intimate knowledge of the property, including any upgrades, repairs, or unique features that may not be immediately obvious. This information can help you make an educated decision about the purchase.

The seller knows the home better than anyone else. They can provide your agent with important details that could influence your decision to buy.

• Negotiation: Your agent, through their conversations with the seller, can gauge how flexible they might be on the price or terms of the sale. This insight can give you an edge during negotiation.  For example, if the seller is keen to sell quickly due to a job relocation, they might be more willing to negotiate on price.

• Building a Relationship: Lastly, a good agent-seller rapport can smooth the purchasing process. It can help ensure open lines of communication, timely responses, and overall positive experience. 

What kind of information can the seller provide that I can't find on my own?

When purchasing a property, the seller holds a lot of information that isn't readily available or visible to you or your agent. This information can significantly influence your decision to buy the property and the price you're willing to pay. It is crucial to understand what these hidden insights might be and how to get them from the seller. 

Knowledge is power, especially in real estate. The more information you have about a property, the better equipped you'll be to negotiate and make an informed decision.

Let's dive into the specifics. Here are some fact-finding questions your agent can ask the seller: 

1. Why the Decision to Move?

Understanding the seller's motivation to move is a critical aspect of the buying process. It can provide you with insights into the property's history and condition. Whether they are moving due to better opportunities, changing family needs, or other reasons, this information can guide your decision-making process. For instance, if the seller is downsizing to a smaller home, it could indicate that the property you're considering might be a great fit for a growing family.

2. How Long Has the Home Been on the Market?

The duration a property has been listed on the market can offer valuable insights into its pricing and desirability. If the property has been on the market for an extended period, it could indicate that the initial asking price was too high. This presents an opportunity for your agent to negotiate with the seller for a more favorable price, potentially saving you money.

3. What Are Some of the Best Features of the Home?

The seller can provide unique insights into its standout features that might not be apparent during a brief visit. From rooms that maintain comfortable temperatures year-round to abundant natural light streaming through specific windows, the seller can shed light on the property's hidden gems. This information can help you envision how you'd live in the space and whether it aligns with your preferences and lifestyle.

4. Are There Any Approved Plans for the Property?

Learning about any approved plans for the property can be a significant advantage. Sellers who have considered expansion or renovation might have plans already in place that you can take over, potentially saving you time and effort. This insight can expedite any future modifications you wish to make to the property, allowing you to personalize it sooner rather than later.

5. What is the neighbourhood like?

The neighborhood and surrounding environment play a crucial role in your overall living experience. The seller, having experienced day-to-day life in the area, can provide valuable information about local amenities, popular spots, and community dynamics. Their insights can help you determine whether the neighborhood aligns with your preferences and daily routine.

6. How Many Homeowners Has the Property Had?

Knowing the property's ownership history can offer insights into its overall condition and livability. If the property has had relatively few owners, especially in the case of older builds, it suggests that the property has likely been well-maintained and has provided a comfortable living environment. This knowledge can instill confidence that the property has a history of being a happy home.

How can I verify the information provided by the seller?

Ensuring the validity of the information provided by the seller is an integral part of the home-buying process. As a potential buyer, you're not just concerned about the aesthetic appeal of the house but also its structural integrity, history, and how it fits into your budget. 

For easy reference, here is a table summarizing the key points: 

Fact-finding Questions Reason for asking How to verify
What is the age of the property? To determine potential maintenance and repair issues. Through a home inspector or property records.
Have there been any significant repairs or renovations done? To reveal hidden problems and the overall quality of the house. Verification can be done by asking for receipts or permits for the work done.
What is included in the sale? To influence your decision and negotiation strategy. By comparing the list of inclusions with the actual property during the final walk-through.

Asking the right questions and ensuring the validity of the answers is the key to a successful home-buying experience. Always ensure your real estate agent is equipped to ask these important questions and help you verify the answers received.

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