Questions to Ask a House Seller
March 26, 2023
If you want to buy a home with an FHA mortgage, there are questions to ask your lender and questions to ask your seller.
Your lender questions should include whether there is an opportunity to buy down your interest rate, how much that rate might be (your FICO scores and credit history will play a part in determining your rate), as well as any discount or perk offered to you for using that lender over another one. It never hurts to ask.
But what should you ask the seller of the home you want to buy with your FHA mortgage?
Questions to Ask a House Seller
The first question some choose to ask is one some are a bit afraid to ask.
Is asking your seller why they want to sell the property too personal? The answer could tell you a lot about whether to pursue the sale. And since homes cost so much that a loan for one is considered a major investment, asking this question makes sense.
Another uncomfortable-but-necessary question to ask the seller? Whether the home has had any major repairs, upgrades, or additions. You want to know that any addition, such as a mother law apartment or accessory dwelling unit, is up to code and will pass the appraisal.
If the home is older and the seller claims there have been no major repairs, this may be a sign to reconsider buying the home. The average roof may last 30 years or even longer, depending on the materials.
But how old is the home? Ask if that’s the original roof or if there have been repairs.
If you know the home is older than the typical life expectancy of the roof, you might wonder if the seller knows or if they’re trying to hide something.
Not everyone with a house on the market is trustworthy, and while most sellers you talk to may be forthcoming about what they know, some might not be so honest. It pays to ask these uncomfortable questions.
Ask About the Local Area
Does the seller know where the nearby schools, daycare, and other amenities are? Is there a planned development nearby you should know about before you commit?
Does the neighborhood have issues with rising water after heavy rain? What about excessive snowfall? All good things to know before you close the deal.
Ask About Your Potential New Neighbors
We don’t just mean the people you live next door to. Are there local businesses nearby? How do they affect the character of the neighborhood? Is there a problem with light pollution or noise pollution in the area?
Asking these questions may not give you all the answers you need, but how your seller answers them could tell you a great deal about whether it’s smart to make an offer and pursue the property.
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Your lender questions should include whether there is an opportunity to buy down your interest rate, how much that rate might be (your FICO scores and credit history will play a part in determining your rate), as well as any discount or perk offered to you for using that lender over another one. It never hurts to ask.
But what should you ask the seller of the home you want to buy with your FHA mortgage?
Questions to Ask a House Seller
The first question some choose to ask is one some are a bit afraid to ask.
Is asking your seller why they want to sell the property too personal? The answer could tell you a lot about whether to pursue the sale. And since homes cost so much that a loan for one is considered a major investment, asking this question makes sense.
Another uncomfortable-but-necessary question to ask the seller? Whether the home has had any major repairs, upgrades, or additions. You want to know that any addition, such as a mother law apartment or accessory dwelling unit, is up to code and will pass the appraisal.
If the home is older and the seller claims there have been no major repairs, this may be a sign to reconsider buying the home. The average roof may last 30 years or even longer, depending on the materials.
But how old is the home? Ask if that’s the original roof or if there have been repairs.
If you know the home is older than the typical life expectancy of the roof, you might wonder if the seller knows or if they’re trying to hide something.
Not everyone with a house on the market is trustworthy, and while most sellers you talk to may be forthcoming about what they know, some might not be so honest. It pays to ask these uncomfortable questions.
Ask About the Local Area
Does the seller know where the nearby schools, daycare, and other amenities are? Is there a planned development nearby you should know about before you commit?
Does the neighborhood have issues with rising water after heavy rain? What about excessive snowfall? All good things to know before you close the deal.
Ask About Your Potential New Neighbors
We don’t just mean the people you live next door to. Are there local businesses nearby? How do they affect the character of the neighborhood? Is there a problem with light pollution or noise pollution in the area?
Asking these questions may not give you all the answers you need, but how your seller answers them could tell you a great deal about whether it’s smart to make an offer and pursue the property.
------------------------------
RELATED VIDEOS:
Know What's On Your Credit Report
FHA Loans Have Credit Requirements
Help Is Available With Down Payment Grants
Do you know what's on your credit report?
Learn what your score means.
