(Closed) What questions to ask?

posted 6 years ago in Home
Post # 3
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

I don’t know many questions to ask as mostly it’s based on the home. You will want to have an inspection done, see if the house requires flood insurance, maybe they might be able to give you a list of average utilities. If you plan on having children you can ask about the school system. Also, ask the realtor to run comps so you can make sure it’s a fair price for the house. Basically this compares all similar houses within a mile radius that were sold in the past 6 months.

Post # 4
Member
2282 posts
Buzzing bee
  • Wedding: June 2012

How old is the roof?

How old is the electrical system?

Do all rooms have an electrical outlet? Do all the outlets work?

(If it’s an older home – pre-mid-century: Are all the walls insulated?)

 

 

Post # 5
Member
14311 posts
Honey Beekeeper
  • Wedding: June 2011

If there’s a basement, is there any history of flooding or water seepage. (sp? if that’s a word…)  Make sure to look for evidence of this as well – water marks anywhere on walls or ceilings.  Most of the real questions wont really be answered until you have a house inspector go through it.. realtors have general ideas and are usually just geared toward showing you a space that you like imo.

Post # 6
Member
9630 posts
Buzzing Beekeeper
  • Wedding: September 2012

@jatelynn:  Congrats on house hunting, it’s so exciting!

One thing I’ve asked, besides what the PP’s have already suggested, is that if this is an established home what is the cost of the average utilities, HOA’s, taxes, etc.  You’ll need to take all those things into consideration in your overall budget, as well as the basic mortgage payment, and they can add up.

My preference is a large yard so I would ask about the total lot size.  And total square footage of the living/heated area of the home.  Check out the appliances and find out when they were installed.  Also find out the age of the hot water heater, heat pump, etc.  

Gas or electric?

Ask if there has ever been a mold issue.

Post # 7
Member
2216 posts
Buzzing bee
  • Wedding: August 2012

Ask if the sellers have any disclosures… Asking this question will answer any questions about previous flooding, water damage, mold, etc.

Good luck in your search!

Post # 8
Member
2106 posts
Buzzing bee
  • Wedding: September 2012

Is the seller underwater on the value of the home? Is the seller motivated to sell? 

Honestly, you can and should figure out the answers to most of the above listed questions on your own. You can find out the Great Schools rating for the local schools, the age of the house, etc online. 

Post # 9
Member
801 posts
Busy bee
  • Wedding: December 2012

How long has it been on the market for, What it last sold for, What’s the average selling price in the neighborhood, etc. 

Do inquire about other surrounding properties to get a better idea of the one you are looking at!

And GOOD LUCK!!! 🙂

Post # 11
Member
801 posts
Busy bee
  • Wedding: December 2012

@jatelynn:  that’s very exciting. Did you guys get pre-approved?

Sometimes having this in hand can make the difference between you and an equally qualified buyer without a pre-approval letter.

Post # 12
Member
2106 posts
Buzzing bee
  • Wedding: September 2012

@jatelynn:  1 bathroom? Power to you.  I’m guessing you’ll add one?  Add up ALL possible expenses (including ones that the inspector might not find) and then subtract that from the cost of the house. 

Also remember that a well-kept property will cost 3% of it’s sale price to maintain it each year.  So if the house is $200k, the house will cost $6k to maintain with regular maintenance.  Distressed properties cost more in yearly maintenance because there’s always something ready to break unless you gut it all out. 

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