5 Things to Ask When Viewing a Property
5 Things to Ask When Viewing a Property
It can seem daunting viewing a property be it your first, fifth or fifteenth. Whether you’re a first time buyer, moving home or a seasoned investor, you will want to make sure you’re getting the most out of your time when viewing a property. We’ll explore the pitfalls, the 5 things to ask and the things to be aware of.
- Estate Agents traditionally had a bad reputation. With tightening regulations and best practises, their standing is becoming much better respected. Let’s be clear to start though, their job is to sell the property that you’re viewing. They are not employed by or there for you, they work for the vendor, the seller of the property. Let that be the first message and look at things from a practical point of view rather than an emotional one.
- Why are the vendors moving? This may be perfectly innocent. A growing family, job relocation or neighbours from hell. Again, you’re relying on the selling agent being privy to this information but it’s always worth checking as to why they are moving. This might affect your decision to buy. Even if you’re buying as an investment property, stop to think that you are going to have tenants in the property. Any potential issues with neighbours, lack of parking or location may cause you issues with finding suitable tenants and suitable tenants that stay.
- Test the taps, turn on the lights. This may seem pretty silly on the face of it but issues with the plumbing and electrics could prove costly further down the line. If the water pressure seems too low, this could create problems in the future. If it takes a long time for hot water to come through, why is this? You may want to opt for a more detailed survey to uncover further issues, but it’s always worth having a good look on your first viewing. Couple this with the general condition of the property inside and out. Try to take your emotion out of the viewing and look at everything from a practical point of view. Look at the general exterior brick work and check for cracks and unevenness. This could prompt you to look into it further. The same goes for the inside, are there any substantial cracks, is there any damp or mould in the property? Trust your instinct on this one, and question anything that doesn’t seem right.
- How much will the bills be? This is especially important if you’re a first time buyer. You may have come from rented accommodation, so may have a rough idea on bill costs but if you’ve been living with friends or family, you may have next to no idea on rough bill costs. Things like council tax can vary differently between property sizes and area. Cable and satellite availability could also vary so be sure to check. Most towns and cities now have access to fibre (fast internet in laymen’s terms), but always worth checking if the property will be able to cope with your streaming and all your other connected devices.
- Do your research. In looking for a home, you’ve probably spent hours trailing through the internet looking at properties in the area. Does the property you’re viewing seem plausible in terms of price? If you feel its overvalued ask why. Challenge the agent so you can better understand why it’s worth the asking price. On the flip side, if it’s undervalued ask why. Now this may seem counterintuitive but if you’re sure that the property is worth more than the asking price, this could spell a warning sign. It could of course mean the vendor is looking to sell the property quickly, there’s a whole host of reasons but it’s always worth asking.
First For Futures work closely with a number of estate agents both local and national. We have access to over 90 lenders and over 12,000 different products so if you have any questions or queries, would like to see how much you can borrow or would like a second opinion, please call on 0330 133 0890 for a free, no obligation enquiry. We never charge upfront fees.
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You may have to pay an early repayment charge to your existing lender if you remortgage. Your home may be repossessed if you do not keep up repayments on your mortgage. There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed and will only be charged upon mortgage offer.
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Because we play by the book we want to tell you that…
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.