Questions buyers should ask
Location
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Is the location convenient to employment, schools, transportation, recreation......?
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What is the street's traffic pattern like?
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How does the resale in this neighborhood compare to other areas?
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How much have the homes in this neighborhood sold for in the last 12 months? Do their sale prices support the value of this home?
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How does new construction in the area affect the value of this home?
Condition
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How does the overall condition of this home compare to those for sale? And have sold?
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What does necessary and capital improvements cost? How much of that cost can be recovered on resale? Or add to the value?
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What is the cost in taking care of deferred maintenance? What needs to be done first? How much of that cost can be recovered on resale? Or add to the value?
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When redecorating, which choices are more customized and which choices are more neutral and will appeal more to the majority of buyers?
Features
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Are the style, size, and floor plan appealing to the typical buyer?
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Are the following typical or adequate for the price range?
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baths and bedrooms - number, locations, and functions
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kitchen space and appliances
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amenities such as garage and its size, family room, den, fireplace, air conditioning
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quality of trim, flooring, cabinetry, fixtures, windows, siding....
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curb appeal, landscaping
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lot - size, wooded, open, private
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Terms
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What terms, such as financing concessions, possession date, are the seller willing to give? Usually the sales price is higher when more concessions are asked for?
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What financing options are available and best for your situation and needs?
