What to Ask Sellers or Agents When Buying a House

The real estate market is saturated with homes for sale in Charlotte, NC that are both beautiful and affordable. Before looking for Charlotte houses, however, it is best to consult with a licensed real estate agent first and ask questions that can make you an informed buyer. So, here are some of the things you should be asking your agent, or if you do not have an agent, the seller himself.

1. Why is the homeowner selling the house? This is, of course, the first and foremost question you should be asking before you decide on a property. It may be hard to get an answer, but insist on getting one, anyway, as this could spell the difference between getting a good deal and wasting your hard-earned cash. For example, if the house is being sold because of a divorce, the buyer has a right to know, as the house might not yet be the sole property of the seller.

2. What is the original price of the house? The amount that the original owner paid for the house is listed in public records and should be available to the buyer. You are at an advantage if you know this because the original price can affect how much the seller is willing to negotiate. If the house was bought at a low price and is old, the seller may be willing to let it go at a lower market price (since the potential profit is already very high, anyway) for you.

3. Does the seller owe anything for the property? Public records will also list if there are existing loans on the property. The balance may have already been paid off by the seller, or if not and he has lots of equity already, then you can negotiate the selling price to your advantage. You may ask your agent for help on this if you want homes for sale in Charlotte, NC that have equity on them.

4. How was the selling price determined? This is something that your Charlotte realty agent can answer. He can provide you with a Comparative Market Analysis or CMA to show you the current market prices of similar homes. The neighborhood itself is a determining factor, and your agent should be able to show you what recent sales took place there, and also the list prices of homes that did not sell.

5. Is there a written Transfer Disclosure Statement? Sellers and real estate agents are usually required by law to prepare a written statement of the material facts of the house. This is normally provided after a deal has been reached. The buyer can also opt to see this statement before he decides to make an offer.

6. What neighborhood is the house located in? It is still best to visit the neighborhood itself when looking for homes for sale in Charlotte, NC. If you are unable to do this, you may ask the agent or seller whether the house is located near schools or stores, if there are any problem neighbors, or if there are any planned commercial development near the area.