You have just viewed a property and are keen to buy but before your sign any offer to purchase there are some questions you need to ask.
Don’t worry too much about the paint colours or who’s going to move the junk in the garage - that can come later when and if you decide to buy. First, you need clarity on the basics - starting with the condition of the property.
You should never shy away from asking about any known problems. No home is perfect, and since most properties in South Africa are sold "as is" you have the right to know what to expect. The agent marketing the property should be able to give a disclosure document listing any faults that the seller is aware of, and you should take pictures of the problem areas and factor the price of any needed repairs or renovations into your offer.
The second question you should ask is the age of the property. New paint, fixtures, and fittings can give a home a fresh new look but you need to know how old a home is to determine the age of the roof, for example, or the plumbing and wiring. The age of these items and their maintenance record could help you decide whether or not to go ahead with the deal.
Thirdly, ask about the ownership costs of the home. These would be things like local rates and taxes, electricity and water costs can also be helpful to make your decision. These costs may make a difference as to whether you can afford this property or not.
Ask about local amenities such as shops, restaurants, schools, and public transport. Also, ask about security in the area, and don't forget to ask about the neighbours and surrounding community. If the residents are genuinely proud of what it offers and how safe it is, the chances are good that you will like it too.
This can usually lead to asking about why the current owners are selling the property. The answer to this could sometimes make a difference in the offer you make. For example, a family might be sad about leaving a community but they need to relocate for work and thus there might be some pressure to conclude a sale quickly. They might be open to negotiation.
On the other hand, they may have retirement in mind but are in no immediate hurry to move so, they will probably be less keen to negotiate.
This brings us to the last questions you need to ask the agent – that is, how long the property has been on the market, and whether any other offers have been made.
If a property has been listed for a long time, or the price has already been reduced, or a previous offer has fallen through, you probably have room for some further negotiation. But if it was only recently listed and has already attracted other offers, you will probably need to act fast and not argue too much if you really feel it’s the home you want.
