Why does the owner want to Sell his Property?

With this we are able to know exactly the reason and the urgency why he wants to sell his house and if there is not some hidden problem that could affect us in the future.

This will also help us to make a possible offer knowing the urgency of the owner's sale and the reasons why he wants to sell the property.

How long has the property been for sale or rent?

This can tell you several things:
1.- The price is very high.
2.- The site where it is located is not very interesting for buyers.
3.- The physical conditions of the property are not very good.

These may be some of the reasons why the property has not been sold; this could help us if we are interested in the property, to be able to offer a lower price than what the owner wants.

How many clients have visited the property and why have they not decided to buy or rent it?

This is data that can help you; to know how valued the property has been.

This can help you to present a meaningful offer, if you value that it is worth buying or renting the property.

Do you have an appraisal that shows us the construction characteristics and complete footage of the property?

This helps us verify the price at which the property was appraised, market value, realization value, gross replacement value and net replacement value, total construction meters, habitable construction meters, total land area, built structures and materials with which they have been built, etc.

If there is any problem, flaw or damage to the property, will the owner assume the repair or sell it as is the property?

This will help us to evaluate the purchase of the property depending on the severity of the damage and also, if we decide to buy it, to define the value of the offer based on the state of the property.

Are there improvements under development or planned that are made before the property is sold?

If there are improvements planned or under development that the owner is or is going to make; it is important to know the cost of what is being done or is going to be done and the time of its completion; in order to make the decision for the offer and purchase of the good.

Are there tenants in the property?

If the property is rented at the time of wanting the purchase; it is important to know all the details and arrangements that have been made with the tenants; so it is of vital importance that the owner provides us with a copy of the contract to read all the clauses of it; to avoid setbacks in the purchase of real estate and in the delivery of it.

Does the property have enough space to be able to expand the construction of it?

It is important to know the current construction data and the size of the lot; more if the intention of wanting to expand the construction of it in the future; that will help us make the decision to buy the property or not.

When was the last time repairs were made to the property's drainage and electrical system?

This helps us to know the state of the drains or the electrical system since we cannot see it with the naked eye.
All this can represent a future cost that they have to take into account when making an offer or purchase of the property.

How is the area where the property we plan to buy or rent is located?

It is important to know how is the area where the property is located? For the following reasons:

  • The security of the place. Have there been robberies in the area?
  • There is a lot of noise in the place. Are there bars or clubs nearby?
  • It is close to a neighborhood.
  • The type of neighbors we have around us, who could cause a problem later.
  • The accessibility of basic services.
  • The accessibility of public transport or vehicular traffic.
  • Accessibility to hospitals, restaurants, shops, gas stations, shopping centers, schools, universities, etc.

Are there outstanding payments on the property?

It has to be verified if there are pending payments related to the property: Property taxes, mortgages, energy expenses, drinking water, telephones, etc. Which have to be paid by the owner or deducted from the purchase price.