Questions to Ask Before Buying a Property

Buying private property in Singapore is not easy as it seems. There are a lot of things you need to do and you have to make sure that you are financially ready. Aside from the process of buying and having the necessary documents, you also need to ask questions before deciding on buying a property. Below are some of the questions that you need to ask the real estate agent or the property owner for you to know more about the property that you are planning to buy.

What is the owner’s reason for selling?

One of the questions you need to ask before buying a certain property is why the owner sells it. If you are planning to buy a property for sale by owner, you can ask him or her directly but if you are talking to an estate agent, you might not be able to get an answer to this question. It is important for you to know the reason because it will help you save a lot of money or regret your decision later on. You can save a lot of money when the seller is in a rush to sell the property, which is why the seller might give you discounted price.

How much the property cost?

Although you already saw how much is the cost of the property from the ad listing you saw online, it is still important to ask this question when you meet with the estate agent or the owner of the property. This question is important because there might be changes on the price of the property or all of the payment you need to settle to be able to purchase the property is not yet included on the price posted on the ad listing. There is nothing wrong with double checking about the price and also knowing everything you need to pay before making your decision.

How long the property has been listed?

When you buy Singapore property you have to ask how long the property has been listed in the market. You have to know the answer to this question because if the property has been in the market for too long, it might be an indication that it is wrongly priced or there are problems on that property which is why no one is interested in purchasing it. However, if the property has been listed for too long, you might have a chance to ask the owner to lower the price if he or she really wants to sell it immediately.

How old is the property?

Another important question to ask is how old is the property and how long the owners have lived there. You should ask these questions because if the property is too old, there might be a lot of renovations and repairs that are needed to be done but if it is a new property and the owners didn’t stay long in there, you have to ask what is the reason behind it. The owners might encounter problems during their stay at their property which you need to be informed about before buying it.