When Making an Offer
First and foremost, get pre-approved with a lender. This puts the seller at ease when negotiating an offer. In addition, this communication with the lender will help you determine what you can afford and what monthly payment you're comfortable with.
Once you find the property you have been looking for, it's time to make an offer!
When selling a property, the seller is obligated to disclose any known defects in the home. However, here are several questions you may want to ask the seller before submitting an offer.
1) Why is the seller selling? The seller may be wanting to upgrade or downsize. There may be something they don't like about the property. Maybe their needs have changed since purchasing the home. In some cases, their reason for selling may help you decide what to offer.
2) What did the seller originally pay for the property? Your real estate professional should have access to this information through the PVA. However, remember that what they paid for the property was influenced by market conditions and the condition of the home at that time.
3) Are there problematic neighbors or other nuisances? The seller may not want to share information about noisy neighbors, air traffic, road noise, annoying dogs, etc. Sellers do share these details sometimes so it's a good idea to ask. We recommend visiting the area at different times of the day to experience these elements for yourself.
6) How are the schools in the area? This may not be a question the seller can answer. If they can't, Great Schools is a helpful resource where you can find more insight.