Seven Deadly Questions When Bidding on a House

Buying a home is tricky in this market – though some people actually enjoy the process. But for most it is time consuming and nerve wracking. Let’s assume you have your desired locations, your budgets and your finances in place.

Once those essentials are done, getting your thoughts in order is the best start for your weekend House Hunting Expedition.

1. Ask if the Agent if the house has been upgraded in recent years – knowing that the wiring, plumbing, heating, insulation are or aren’t up to scratch allows you assess the impact that will have on your budget. And don’t forget the Building Energy Regulation (BER) Certificate.

2. Find out what’s included in the sale and what may be bought. There may be some items of furniture that are ideally suited to the place, the integrated appliances may be available at a bargain price and might help your budget.

3. Is planning permission or architects exemption certificate in place for any extensions? If not that can really delay the sale.

4. What is the sellers’ status? Is their new house ready for them, are they sale agreed on it? Are they reliant on the proceeds of this sale to complete? The big question here is “when do they want to close”. Make sure that fits in with your plans.

5. Ask for a second viewing if you are interested. It is surprising what can be missed in one viewing. And drive around the neighbourhood, look at the condition of houses in the area. I always note the condition of the cars, it says a lot.

6. The agent is paid by the seller and is not your friend, that’s true. However – if s/he is a professional s/he will appreciate a buyer who knows what they are doing. Feel free to ask about the other bidders – are they mortgage approved first time buyers or are they in a chain. Knowing that helps you negotiate.

7. And don’t be afraid to put in an early bid, yes you can go low, but not so low as to be an insult. You don’t want the Agent or seller to think you are not a serious contender.

What happens when your bid is accepted? info@CGEstates.ie to request a copy of out First Time Buyers Sales Process Guide.

And our very best wishes to you, it’s a trying time and we wish you well.