Whether you’re looking to buy or lease a house, UK estate agents are going to be a crucial part of your journey. They often have complete power over the kind of homes you browse through and the prices you’re quoted. The chaos of moving into a new place can make you forget to ask some very fundamental but important questions from the get-go. Hence, we’ve compiled a list of questions that will help you gain clarity regarding your real estate experience and prevent unforeseen issues.
7 things house hunters need to ask their estate agents
Here are 7 things you need to ask your estate agents while looking for a house to always end up with a safe and lucrative deal.
How much industry experience do you have?
Buyers aren’t too keen on trusting novices, given the licensing issues while pairing up with an estate agent. So instead of harbouring confusion, ask your agent about the number of sales they’ve made before and how many years they’ve been in the industry. Once you’re assured of the quality of their services, you can dive into the house hunting process with a lot more ease.
How much is your commission?
It is smart to discuss money from the start when so much of it is involved in a purchase. Ask your agent what their charges are going to be and compare it with other agencies in the market if you deem it necessary. Oftentimes people forget about the agent’s charges in the beginning and then have a financial obligation hanging by their heads later on. Asking this question helps you prevent such uncomfortable circumstances.
How do I know a property is fairly priced?
One of the main concerns of a buyer is to get the best price for the property they buy. Since most retail purchasers do not have expertise in the real estate market, they turn to their agents for deeper understanding. It can also help you determine what size and locations you should be looking for a home in.
How should we shortlist properties?
According to recent statistics, house prices in the UK change by 10% every 12 months. Thus your home isn’t just a roof over your head – it has the capacity to bring big returns for you. Ask your real estate what parameters are they using to shortlist properties and discuss it thoroughly so that you can come out with a purchase that serves you well.
What is the average time required to find and move into a house?
Moving into a house involves a wide set of logistics, so having a reasonable measure of when you might be able to kickstart things can be a huge relief. Inquire about the local real estate market situation and get an estimate of how long it will take to sell your home. A good real estate agent is aware of the number of properties for sale, and the time it takes to list and close similar properties, and can thus provide you with a decent estimate.
What kind of furnishings should I be looking for?
Even though most people go into house hunting knowing if they want a semi or fully-furnished home, it can be hard to gauge what fixtures to look for, especially if you’re a first-time buyer. Do not be too shy to take into account your agent’s suggestions since they have ample industry experience. It will help you avoid ending up in sticky spots.
How will the paperwork be handled?
Being careful with legal formalities is always the best course of action, so ask your real estate agent about the paperwork once you’ve made up your mind about a property. It is best if your agent doesn’t represent both parties i.e. you and the sellers. This reduces the risk of a skewed agreement.
When you’re investing such a huge amount into an asset so indispensable for your lifestyle, transparency is essential. The right estate agents will walk you through any doubts you have patiently so being inquisitive in the beginning can also help you find out if you are working with the right professional. House hunting can be a stressful time for many, but as long as you go into it well-informed, you’re sure to end up with a space that you love.