Buying a property is a dream for many. We all will be cherishing the days when we will start in our own house, bought from hard-earned money.
It is a common thing to approach a real estate agent to get a property at the location of your choice or the prime spot in the city. The case is no different even if you check online classifieds. Agents or developers would have posted most of the properties there too.
Several questions will pop into your mind. How to find the property is worthy or not? Whether the broker is quoting a high price? What is the price range in the subject area? So on. You may not be worried if you are buying from top builders and developers in Kochi, Trivandrum, Kottayam, Calicut, or any other place. The issue arises when you deal with unknown agents, who may be speaking a lot about the property; however, you are not sure about those.
Be prepared to ask the right questions to the agent before progressing further. Having a detailed set of questions will help you focus on your requirements rather than falling prey to his jugglery of words.
Let’s look at all important questions you should ask to real estate agent
1. How old is the property?
Although you can get the information from the documents, it is good to know the age of the house before proceeding further. The value of the house will turn zero after a certain point in time. Then you will have to pay the price of the land only. Understanding the age of the house is therefore necessary before discussing the price.
2. What is the average price of a property in the area?
Research it by yourself, around the area, before asking this question to the agent. Of course, budget builders in Kochi and other prominent regions in Kerala will have their projects at the prime, upscale, localities. The price they quote will be depending on the location, the dimension of the home, and the amenities provided. Since you will be having a generic idea about the property prices in the said area, you can recognize if the agent is trying to fool you. You may avoid depending on Google to confirm the property price in the area. It is better to confirm it from the real world, not from the virtual one, in this aspect.
3. What’s the reason for the sale?
The reason (s) for sale may depend on the individuals. Some may find a problem with the location, non-availability of water, disputes with the neighbors, disturbing the neighborhood, and so on. You need to confirm this not only from the real estate agent but also from the locals. You can avoid buying the property if the individual is selling the property due to a problem that may affect you too.
4. Whether the price is negotiable or not? If yes, how much?
Normally the price quoted is negotiable. Otherwise, they will state it as non-negotiable. You can confirm from the property dealer or broker how much can be negotiated. On the other hand, you don’t have to proceed ahead as suggested by him or her. Confirm the prices in the area and start below that range. Don’t buy if the owner is adamant or quoting an exorbitant price.
5. Is there any possibilities/ history of flood or other natural calamities in the area?
Kerala had been known as a safe place to stay. However, the image has changed over a couple of years. The unruly construction and senseless development plans have affected the environment adversely. Resulting in one of the worst floods, Kerala has ever seen, in 2018. It has made the developers reconsider the property they buy. Consequently, prominent builders study the property before they plan procurement for the project. Thereby ensuring a safe stay for their clients. However, it may not be the case when you buy from an individual seller. Check the flood history of the area, before agreeing to the property.
The points we have discussed here are more applicable when you buy a property from an individual. Most of the reputed builders will only quote the right price for the property. Further, the project will be on an ideal spot close to all the necessary amenities. Making sure that the clients have a safe and comfortable stay. Moreover, you will be dealing directly with the builder, eliminating any foul play by the agent.
In addition to the questions we elaborated on here, you may also confirm whether there are any legal disputes regarding the property, any other family member has staked a claim on it, material used for the construction of the house, is there any defects that require urgent attention and so on. Inspect the property along with an experienced person or an established architect to have a third party/ expert opinion. It is your dream home. Contemplate comprehensively before fixing the deal.