Article
Six questions to ask when buying a home:
A Rhode Island Buyers Guide
2 March 2006
By Allen Gammons Jr
When you are buying a home, there are many problems that the seller is obligated to disclose, but, these disclosures don’t always paint the entire picture of the home. Here are six questions you may want to ask that can offer additional insight about the prospective home before you make a final decision.
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 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.
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: Having a property near Oakland Beach in Warwick may not be the best location for someone commuting to work in North Providence due to highway access.
It is also a good idea to ask the seller if he or she has had any problems with the home while living there. Is the home located near water or in a flood plain? 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.
Use this answer to find out about any noisy neighbors, barking dogs, noise from TF Green Airport, 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.
Because the value of a community is usually greatly influenced by the public schools in the area, finding out the seller's perception can give you some insight about the quality of the area’s schools. Anyone in Rhode Island knows the issues surrounding public schools in Providence, Cranston, and North Providence. If schools are a consideration, make sure you research before you buy.
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. The real estate professionals at Prudential Gammons Realty can help you get your key questions answered and give you advice on how to evaluate your findings.
