While looking for a house, you’re probably doing everything in your power to find your dream home. You’ve studied the market, narrowed down your wants and needs, and developed a home buying checklist. And, of course, you probably have a list of questions to ask the seller’s of every home you’re considering. But are you asking the right questions? Unfortunately, many people get this wrong because they aren’t asking the hard questions that will help uncover the back story about a home. Therefore, we are going to cover the top five hard questions most home buyers neglect to ask. This should help you make an educated decision about whether or not any home could or should be considered your dream home.
1. How Much are Your Monthly Utilities?
This is one of the most important questions you should ask because this could increase your monthly expenses if the utilities are extremely high. Additionally, this will help determine if all the functions of the home are performing properly, such as the HVAC system, and so on. Be sure to ask for the actual copies of at least a year’s worth of bills. This will keep the seller from quoting you the lowest bill they’ve ever received versus one for each month in the last year. This will give you the high electric bills, as well as the lows for a more accurate picture. You should also inquire as to what types of energy are used in the house. Does the house use natural gas? Is it all electric? Is there any propane? Or is there a combination of energy sources?
2. What Items Will be Included in the Sale?
There are several reasons you should ask this question. Just because you see something in, on or around the house, doesn’t necessarily mean it’s staying with the house. Although, if it’s attached, it’s supposed to stay with the house; however, that’s a whole different subject and not within the scope of this article. For example, is the seller leaving the drapes and/or window coverings? If not, this could create a major expense you weren’t anticipating, not to mention the hassle factor. Other items to inquire about are the swing set or other outdoor play equipment, sheds, appliances, wall-mounted sound systems, and so on. Additionally, you should make sure what you were told is in writing, preferably on the contract.
3. Has There Ever Been any Paranormal or Criminal Activity in or Around the House?
While these might seem like strange questions to ask a seller, not to mention being an extremely uncomfortable subject to approach, you absolutely must ask these questions. Yes, the sellers disclosure might include this information; however, there’s no box to check for paranormal activity. It is, however, required in most states for a seller to disclose anything that might affect a home’s marketability. But that doesn’t mean they will. You should always inquire as to whether the home has ever encountered any ghost sightings or paranormal activity, a murder or other criminal activity, any suicides, a death due to unnatural causes or if there have ever been any known meth labs in the house.
If the answer to any of those questions is yes, then that house is what is considered a stigmatized property. A stigmatized property will generally sell for 10 to 25 percent less than market value, which gives you the upper hand and a might more negotiating power, if you still want to buy it.
4. Are There Any Problems in the Area or With the Neighbors?
There are plenty of reasons you might want to ask this question. If you have kids, you probably don’t want to live on a street where the teenage drivers routinely speed around. Or perhaps the neighbor has a band who frequently practices in their garage where the music can be heard for miles. The next door neighbor might be a hoarder, in which case could create a rodent, odor, or other type of problem for you. It could be the neighbor a few doors down has a vicious dog that escapes the fence a few times every month. Or there might be a drug house that backs up to the house you are considering. The seller might divulge this information and they might not, but it’s extremely important you at least try to get some detailed answers. And many times people feel guilty and will offer the information without even realizing why you’re asking.
5. Have There Ever Been Any Sewer Back-Ups or Broken Pipes?
If the house has a history of sewer back-ups, it might be due to tree roots that get into the sewer lines as the tree grows. This would tell you that if you buy this house, you might have to pay to have the sewer lines cleaned out every year or so. Most homeowners insurance policies don’t cover damage from sewer back-ups; however, you could ask if the insurance company has any riders available that you could add to your policy to cover the damage should a sewer back-up occur.
If the seller tells you the house has a history of broken pipes, this might be an indication that the water pipes are exposed and frequently freeze and burst in the winter, among other reasons. When a seller discloses a previous water intrusion issue, it’s important to relay that information to whoever you’ve chosen to do the home inspection so they can look for mold issues or other moisture related problems.
Are There Any Other Important Questions I Should Ask a Seller?
Yes, there are plenty of other important questions you should ask a seller before you make any decisions about whether or not to buy your perceived dream home. Such as, how old is the roof? Why are you selling? Have there ever been pest infestations of any kind? How long has the house been on the market? Are there any pets buried in the backyard? How much did you originally pay for the home? Do you have documentation for any major home purchases and the warranties and owner’s manuals that accompany them? What do you like the most about living in this house? Do you know how much insulation is in the attic and has the insulation ever been replaced? How big is the water heater and how old is it? How big is the septic tank and when was the last time it was pumped out? Is there a homeowners association and if so, how much is the monthly or annual fee?
The Bottom Line
A quick internet search will provide you with other important questions to ask a seller before determining whether or not you have found your dream home or just another money pit. You know what they say “buyer beware” and nothing could be more true than when you are buying a house.
2 Point Highlight
1. While looking for a house, you’re probably doing everything in your power to find your dream home.
2. We are going to cover the top five hard questions most home buyers neglect to ask.
