Vendors – These Are The Questions First Time Buyers Ask

It takes at least two parties to conclude a property deal, the buyers and vendors. There may be other parties or professionals involved with the process, but ultimately, it is all about buyers and vendors coming together. Whatever side you are on, it is vital that you are aware of the other party, and what you are looking for.

As a vendor, you will put your needs and expectations first, which is perfectly acceptable. However, if you plan on selling your home, you need to connect with buyers. Knowing the questions first-time buyers are likely to ask will help you provide suitable answers, ensuring you connect with them.

At Harpers Estates, we are pleased to say we have assisted many vendors, and we have helped them sell their home to first-time buyers. We are more than happy to answer these questions on our client’s behalf, but we also believe it is crucial that vendors understand what is happening in the marketplace.

Therefore, these are the questions first-time buyers ask, and we can help you answer them.

Why are the present owners looking to sell their home?

This may be a perfectly innocent and even natural question, but it may also be a question asked by the buyer to find out information which works to their advantage. Buyers and vendors are negotiating at all times, and anything which provides one party an advantage can make all the difference in settling a price.

If the vendor is selling for a reason, they may be looking to sell quickly, or for a set price. Therefore, buyers want to glean this information if they can, as it will help them table an offer which suits their needs while perhaps persuading the buyer to settle for less than they hoped for.

There is no obligation to answer this question, but even a non-answer may provide buyers with insight. We are able to answer this question confidently, without providing any insight.

Has the property been on the market for long?

This is information which can be found online, but again, it is a question some buyers ask to provide themselves with an advantage. At the start of the year, the average time to sell a home was 63 days, spanning from the time a property was placed on the market until it has been sold.

There may be reasons why a property has remained on the market, and if there are mitigating circumstances, these should be shared with any prospective buyer.

Other common questions asked during the sales/buying process include:

·         Has the property had any major renovation work of late?

·         What is the parking situation like at the property?

·         What are the average monthly household bills for the property?

·         Is the property part of a chain?

·         Are there any local issues to be aware of?

·         What are the neighbours like?

No matter the question, we are skilled and experienced in representing vendors. If you need any assistance in the property market, we can help.

We know this is a challenging time, and for many households, the thought of buying or selling property is far from their mind. However, we also know many people are keen to keep themselves entertained, and some people may have property market issues. If we can be of any use to you, please contact Harpers Estates, and we will be more than happy to assist you.