The questions to ask when you’ve found a property
If you know the vendor’s reason for selling a property you’re interested in, it can help you in your negotiations. Estate agents often advise their clients not to give a reason for selling, or to simply say ‘relocation’. But there is no harm in asking, either directly or indirectly.
Sometimes an estate agent will let slip that the vendor has already bought elsewhere, or needs to move for their job. Reasons such as these suggest that the vendor will be looking for a quick sale—something that you can factor into your negotiations.
Other questions that will help first home buyers are:
- When does the vendor need to move out of the property?
- How long has the property been on the market?
- How many offers have been made on the property?
- as the property been passed in auction (and if so, what was the highest bid?)
- Is the vendor open to offers before Auction?
- How long have they owned the property?
The answers you get to these questions will obviously give you an insight into how ‘negotiable’ the price is.
Some other questions for apartment hunters:
- Is the property Foxtel enabled?
- Does the apartment above have floor boards?
- Does the body corporate allow BBQ’s on the balcony?
- Is there much noise in the building?
- What % are tenants vs. owner occupiers?
- Is there visitor parking?
