What Questions Should You Ask Your Property Practitioner?
Category RealADVICE
"Whether you're buying or selling a property, both are significant events that will impact your financial future and require the assistance of a trusted property professional. However, when you're in this position, it can be challenging to know what questions to ask, especially if it's your first time navigating either process," says Gerhard Kotzé, CEO of the RealNet Property Group.
"With that in mind, here are some questions you should ask as a seller:
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How do we determine the selling price of my property?
As a seller, you may already have a price in mind, but your Property Practitioner's job is to advise you on a realistic price that your property is most likely to sell for. The correct price will consider the property's value, its condition, the area it's located in, and prevailing market conditions. -
Can you tell me about properties similar to mine that you have sold in the area recently?
This information will give you an idea of market trends in your area, an estimate of how long it might take for your property to sell, and insight into your Property Practitioner's experience in that specific area. -
What are the "hidden" costs I'm responsible for as a seller?
No one likes unexpected costs or expenses. Selling a property involves certain costs, so ask your Property Practitioner to outline what to expect.
If you are buying a property instead, consider starting with these questions:
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What is the total cost of ownership?
Both buying and selling a home come with additional expenses beyond the purchase price. Knowing these upfront can help you plan effectively. -
How does this property compare to similar homes in the area?
Understanding how the property stacks up against recent sales in the area can provide insight into whether it's fairly priced and has good resale value potential. -
What is the history of the property, and are there any known issues?
Ask your Property Practitioner about the property's history, including any repairs, structural issues, or pest problems. This will give you a clearer understanding of potential maintenance costs and the property's true condition.
Property Practitioners are there to guide you through the process of buying or selling a property, but knowing what to ask can make all the difference."
Author: RealNet
