20/10/2018
What is the most important question when viewing a property?
In my opinion the million dollar question (okay maybe not million dollar, but potentially several thousand pound) is "why are you selling?"
Ideally you would ask this question to the vendor if you are lucky enough to be accompanied by them on a viewing, but it is definitely worth asking the agents and tenants too.
This question alone earned me a £13,000 reduction on my very first property purchase! It's a magic question!
Here's the thing, I didn't know anything about buying property or negotiations way back in 2012, but I'd decided I was buying a house. Off I went to my first viewing on a cold February evening (yes I bought the first house I ever viewed), and purely as a means of breaking the awkward silence between myself and the vendor I asked him why he was selling.
His answer was a game changer. He told me that he was getting married in the coming April. His wife to be owned a home that they were both going to live in and he needed to sell fast. I had a light bulb moment and knew there was a deal to be done.
I was a first time buyer armed with a decision in principal and I plucked the offer of £107,000 out of thin air and to my surprise it was accepted.
Knowing what I know now, I should have offered £100,000 but being a little wet behind the ears I allowed the agent to intimidate me in to a higher offer.
I had never heard of the term 'motivated seller' at this stage, but everything I have bought since has been chain free and had some sort of motivation behind it.
Try asking it, it's worth a few £££
