11 Questions buyers should ask agents
Looking to buy a home? Barry Plant Frankston Director, Tom Larkin, provides a list of questions you should ask your agent to help you make the right decision.
1. Can I have a copy of the Section 32?
A Section 32 provides you with critical information such as a copy of the title search and plan of subdivision, plans and permits, any restrictions on the land, rates, taxes and charges, services connected and details on mortgages or charges.
2. Can I have a copy of the Contract of Sale or Contract Note?
This lists any conditions the seller may have such as settlement dates etc.
3. Are there any Owners Corporation fees?
This should be asked in any situation where there are multiple dwellings on the single block of land.
4. How negotiable is the seller on price?
Will they accept conditions such as subject to finance approval or sale of your current property?
5. What prices have similar properties sold for locally in the last three months?
This will give you a good idea as to whether the seller is realistic in their price expectation.
6. Why is the current owner selling the property?
Could be just a normal upsizing or downsizing or maybe something that would make you think twice about buying. This information could give you power in the negotiations. The agent may not know, but it’s worth asking.
7. How long has the property been on the market?
In a normal market a property should sell within six weeks. If it’s still on the market after that time, then it may be overpriced or have something wrong with it.
8. Are there any council plans or approvals in place?
If there are approvals for redevelopment or extension in place, that gives you options.
9. Has a building and pest inspection been done on the property?
Usually a potential buyer will need to organise these themselves, but some sellers will provide this information. It’s also worthwhile asking about the age and condition of the heating and cooling systems and appliances. Ask about how the roof has been maintained too.
10. What’s included in the sale?
Find out what’s included and what the seller will remove. Are the window coverings staying? Is the water feature going? Will the plumbed-in fridge be left?
11. What is the local area like?
How has the suburb changed over time? Is it growing, revitalising or is it stagnant? Where are the nearest shops, schools, medical facilities and transport links?