Six Home Buyer Questions:

Sometimes before you make your offer, you will have questions you may want to ask if the opportunity is available to you prior to making the offer.  When you are buying a home in Colorado, there are many problems that the seller is obligated to disclose. For example they are obligated to disclose information about major physical defects on the property, but these disclosures don't always paint the entire picture of the home or it's history or it's current owner.  Here are six questions you may want to ask that can offer additional insight about the prospective home before you make a final decision.  Many of these are difficult to learn in normal circumstances, but if you learn them, it may help you make decisions about your purchase.

1) Why is the seller selling the house?
This question may help you evaluate the "real value" of the property. Is there something about the house the seller does not like? If so, you may be able to adjust the purchase offer accordingly.  This could potentially be an insight to the motivation of the seller though this is not always easy to learn.

2) How much did the seller pay for the home?
This question can, in some instances, help the buyer negotiate a better deal-maybe even get the seller to carry part of the loan. However, it is important to remember that the purchase price is influenced by several factors, like the current market value and any improvements the seller may have made to the home. The original purchase price might not have anything to do with the current value of the house.

3) What does the seller like most and least about the property?
By asking the seller what he or she likes most and least about the property, you might get some interesting information. In a few cases, what a seller likes the most about a home might actually be something the buyer is looking to avoid. For example, if the seller describes his house as being in a "happening community," the buyer might consider this a negative factor because the area may be too noisy or busy for his or her taste.

4) Has the seller had any problems with the home in the past?
It is also a good idea to ask the seller if he or she has had any problems with the home while living there. Has the seller had problems with a leakage from the upstairs bedroom in the past? If so, even if the leak has been corrected, the floor and walls around the bathroom might have been damaged. You should also check that these items were repaired properly.  Be sure to look over any disclosures carefully as they may provide insight to your home purchase.

5) Are there any nuisances about the property?
Are there noisy neighbors, barking dogs, heavy airplane traffic, train whistles, or even planned changes to the community, such as a planned street widening. This may give you insight on why the seller is really moving.   Spend an ample amount of time at the property to see if you can learn about noisy occurances and talk with people who live in the area to see if you can learn about upcoming changes that may affect your decision.

6) How are the schools in the Denver CO area you are considering?
Because the value of a community is many times greatly influenced by the public schools in the area, finding out more about the schools in the area can give you some insight about the area.  The schools in the area can have a significant impact on the ability to sell the home later.  Be sure to visit our area page about schools.  Make comparisons and know what school will most benefit your children and your home values.

Knowing all you can about a prospective home, not only helps you decide if it's the home of your dreams, but what offer to make as well. Your real estate professional can help you get your key questions answered and give you advice on how to evaluate your findings.  Be sure to contact Frank Nuebel if you are considering purchasing a home at 720-273-3514.

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