PH Real Estate - Questions Buyers Should Ask their Real Estate Agents before Buying

Before you buy any property, you should know what questions to ask your agent. These questions will provide vital information about the property you’re interested in. Don’t accept vague answers, but the answers ought to be clear and specific. If the agent doesn’t know the answers, then the broker or someone higher up must answer.

Here are the questions you can ask your real estate agen :

Price of the property

1. Is there a reservation fee for the property?

2. How much is the reservation fee?

3. Is the reservation fee refundable when I don’t get to buy the property?

4. What’s the listed price of the property?

5. Are there no discounts?

6. What’s the last price?

7. Can I mortgage the property?

8. Is there a down payment for the property?

9. How much is the down payment?

10. Is the down payment refundable when I don’t get to buy the property?

11. Is there a discount for cash payments?

12. How much is the discount for cash payments?

13. Is there a discount for two or more purchases?

14. How much is the discount for two or more purchases?

15. Are there flexible payments for the property?

16. Are installment payments accepted for the property?

17. How much are the monthly installments?

18. What’s the maximum number of years for the installment scheme?

Location of the property

19. Where is the property located?

20. What business establishments are near the property?

21. What is the nearest national road?

22. Are there nearby schools, hospitals, banks, police stations, and places of worship?

23. Are there leisure venues nearby?

24. Are there sports venues nearby?

25. Are there bus and train stations nearby?

26. Is there an airport nearby?

Safety of property

27. Is the area free of flood waters during the rainy season?

28. Is the area far from earthquake faults?

29. Is the area not congested and polluted?

30. Is the land that the property stands on erosion free?

31. Is the foundation of the property durable and strong?

32. Is the property earthquake proof?

33. Is the builder of the property reliable?

34. Is the track record of the builder excellent?

Type of neighborhood

35. Are people in the neighborhood friendly but not nosy?

36. Is the neighborhood peaceful and free from gang wars and similar occurrences?

37. Is the area peaceful and free from drugs and criminal activities?

38. Are people cooperative in community activities?

39. What are the types of people living in the neighborhood?

40. Can homeowners establish a business within the neighborhood?

Security system

41. Is there a security system within the community?

42. Are the security guards on duty, 24/7?

43. Are there CCTV cameras within the community?

44. Is there a perimeter fence enclosing the community?

45. Does the perimeter fence provide adequate protection from burglars or intruders?

46. Is it a gated community?

47. How many gates are there?

48. Do cars have gate passes?

49. Are non-residents allowed entrance through the gate?

50. What are the requirements for non-residents to enter the community?

General amenities

51. Are there general amenities provided by the owner?

52. What are these amenities?

53. Do you have to pay to use these amenities?

54.  How often are homeowners allowed to use these amenities?

55. Can guests use the amenities?

56. Who is responsible in maintaining the amenities?

57. Are there certain payments for homeowner’s services, such as garbage and security?

58. How much are the service fees?

General repairs and others

Aside from the questions above, the following questions can be asked by prospective buyers, who are planning to buy condo units. Of course, you have to ask the price beforehand. Ask questions #1 to #31, as well.

59. When can I move in?

60. Are washing and ironing clothes allowed in the condo? (Some condos don’t permit washing and ironing clothes. Thus, ask this specific question if you plan to do your own laundry.)

61. Is cooking allowed in the condo? (Some condos don’t allow cooking inside the units, so you have to clarify this issue.)

62. Who would be responsible for the repair of the condo units?

63. Who would be responsible for the repair of the amenities?

64. Are there rules in place for all condo owners?

65. What are these rules?

66. Are there monthly dues for basic services?

67. How much is the monthly payment?

68. Can I rent out the unit or sell it as I wish?

69. Is there a required maximum number of persons per unit?

70. Can guests stay overnight?

71. How many days can a guest stay in?

72. Can I renovate the condo unit?

73. When can I renovate the condo unit?

Tips in asking your questions

• Ask the questions clearly and expect crystal clear answers. Don’t get irritated when you have to ask the question twice.
  
  
• If you’re not satisfied with the answer, you can ask follow-up questions. As a prospective buyer, you’re entitled to clarify issues that are ambiguous to you.
  
  
• Don’t buy the property until all your questions are answered. A good alternative is for you to go straight to the owner and ask pertinent questions to get the correct answers.
  
  
• Be polite and diplomatic when asking questions. Be firm but not rude. Your behavior reflects you breeding.
  
  
• Don’t ask irrelevant questions. Stick to the topic on hand. 
  
  
• Be prepared with your questions. Write them down before meeting the agent. That way you won’t be wasting time and energy.
  
  
• Write down the answers, as well. You can let him sign the transcript to prove that those were his/her answers.
  
  
• You may want to voice-record the agent’s answers as proof too.
  
  
• End the session with a handshake.

Conclusion

Don’t be afraid to ask questions about the real estate property from your agent or broker. You have the privilege to do so because you’re a potential buyer. Be polite though and be diplomatic about it. After all, you can strike a better bargain when you’re not behaving like an ass.

By the way, you may want to ask the name of the agent or broker before commencing with your barrage of questions. 

Tags:    FAQs on home buying