Questions You Should Ask Before Buying a Lakeland Fl Home For Sale (Part 1)

Questions You Should Ask Before Buying a Lakeland Fl Home For Sale (Part 1)

Questions You Should Ask Before Buying a Lakeland Fl Home For Sale

If you are a first-time homebuyer planning to buy a home for sale in Lakeland Fl, it would be tempting to buy your first home just because you have fallen in love with the house and and how it looks. Buying a home should not be an impulsive decision and should be done with lots of thinking, studying, and planning in order to avoid having “buyer’s remorse” later on.

There are 3 types of questions you should ask before buying a home. These are:

1. Questions about the price

2. Questions about the condition of the home

3. Questions about the location of the home

Here are the more specific questions you should ask before buying a Lakeland Fl home for sale:

1. Questions about the Asking Price

Home buyers usually compare prices of similar Lakeland Fl homes for sale in the same neighborhood before choosing a home that falls within their budget. But there are other questions you should ask that has very little to do with how much the the home’s value is.

• How much did the seller pay for the Lakeland Fl home?

It’s not a case about how much the seller will profit from the sale of the home, but rather, it’s your business to know if the value of the home has gone up or down since the home was bought by the seller.

• How much does the seller still owe in mortgage for the Lakeland Fl home for sale?

If the seller owes more than the selling price of the home, then you are actually looking at either a short sale or the seller will be bringing cash to closing to cover the amount still owed for the home.

• How much have other similar Lakeland Fl homes in the neighborhood sold?

The price of comparable sales in the area is your best indicator of the home’s value since the appraiser will also rely on these comparable sales to compute the value of the home you want to buy.

• How many offers for the home has the seller received for the home?

If there have been multiple offers for the home, you must have a strong offer in order to compete.

• How long has the home stayed on the market?

If the Lakeland Fl home for sale has been listed for more than 60 days, you might be able to negotiate for a lower price on the home.

Stay tuned for the second part of the article,  “Questions to ask About the Condition of the Lakeland Fl Home Before Buying.”