questions to ask vendor on first viewing?

_Andy_

Why are they moving?
What work have they had done?

If your gut feeling ever is the property isn't right for you, walk away!

lessonlearned

All of the above.

But - and I'm in total agreement with Pennywise here. Never rely on anyone else and don't take all answers at face value.

You must be pro-active and you must apply due diligence.

Check, double check and triple check everything.

Chase up everyone, EA's, Solicitors, Surveyors, Lenders, don't wait for them to contact you, you need to make the running and keep things moving along.

Follow up all telephone instructions with emails, photocopy everything, make notes in your diary.......Have everything in writing.

I know I make it sound like hard work, and maybe it is, but keep on top of everything.

Back to what questions - anything you want to know then just ask away. Just be polite.

And I agree - use your intuition, if your inner voice is whispering then listen to it. Investigate further. If it's still not right and you are not 100% happy - walk away.

sammyw

Thanks again for your replies
Got some more properties to view in the next few days - and a few more questions lol
Is there a formula/guide that estate agents use to price the properties? How much do they over price them to allow for lower offers?
What does OIEO really mean? Can I still offer less - is this just a marketing ploy to get people to offer more or is this the lowest that the vendor will accept?

moneyistooshorttomention

I would imagine the pricing of a standard type property is established by the vendor themselves. The vendor will study house details for houses like theirs in locations like theirs and fix their price accordingly. Don't take it as read that a property will be overpriced to allow for knocking down of price - it may not. Some properties will have been deliberately overpriced (I can think of one very near to me for instance) and others may be fixed at the exact "bang on the money exactly what it should be" price. My own house is priced at an exact "bang on the money" price with no allowance made for "knocking down price" for instance.

The only houses where the vendor has probably just agreed to whatever price the estate agent said as the one to put it on at would be a "unique" type property (ie one that is very difficult to price - because there are no comparable houses nearby and no-one really has a clue just what to charge for it).

You could try offering less than OIEO prices, but expect a flea in ear back as the vendor probably does mean exactly what they say (ie "pay me more than this price"). I never understand why people put OIEO by a houseprice - as I would imagine some viewers would probably still try and knock them down anyway though they had specifically been told not to.

johnlocke

Even if they say their are no problems with their neighbours it may be worth just knocking on the neighbours doors just to ask them what the area is like (or some other question) to try to guage if they are decent people.

Remember anything that is said at a viewing cannot be relied upon as fact when you enter into a contract as really you have no evidence of what was said.

Any concerns about anything they say at all and get their solicitor to put it in writing to you. Just in case it all goes pear shaped when you move in !

sammyw

Thanks - I'm a little confused by the prices in my area - within 4 streets of where we are looking, the size of house we are after has variations in price of £40,000. Surely a newer kitchen and conservatory can't add that much to a proprty? I can't see much difference in the houses other than that. Thats why I was thinking that the ones that are more expensive had been priced to drop.

Ciderarmy1987

sammyw wrote: »

Thanks - I'm a little confused by the prices in my area - within 4 streets of where we are looking, the size of house we are after has variations in price of £40,000. Surely a newer kitchen and conservatory can't add that much to a proprty? I can't see much difference in the houses other than that. Thats why I was thinking that the ones that are more expensive had been priced to drop.

When looking at house prices for comparisons only look at SOLD house prices. As this tells you what somebody actually paid for the house

You can do this on both Rightmove and Zoopla and you can usually find the old listing on their as well.

Thrugelmir

I prefer viewing with an agent. As first view is to see if I even like the property and its location!

moneyistooshorttomention

Ciderarmy1987 wrote: »

When looking at house prices for comparisons only look at SOLD house prices. As this tells you what somebody actually paid for the house

You can do this on both Rightmove and Zoopla and you can usually find the old listing on their as well.

...and then factor in that some of them will have been desperate sellers and others of them will have "right dump" houses and these listed sold prices won't tell you either of those things - when you are comparing with a house up for sale now in decent condition and with a non-desperate seller.

I really do feel steam coming out of my ears every time FTB's say "compare with sold prices" without mentioning "...and take those two factors into account as well...." By now - anyone ignoring those two factors is guaranteed to raise blood pressure for not saying "Take into account the FULL picture" and don't just do a parrot-like "lets repeat that phrase FTB's often come out with on MSE copying the last person that said it without thinking things through fully".

sinbad182

moneyistooshorttomention wrote: »

...and then factor in that some of them will have been desperate sellers and others of them will have "right dump" houses and these listed sold prices won't tell you either of those things - when you are comparing with a house up for sale now in decent condition and with a non-desperate seller.

I really do feel steam coming out of my ears every time FTB's say "compare with sold prices" without mentioning "...and take those two factors into account as well...." By now - anyone ignoring those two factors is guaranteed to raise blood pressure for not saying "Take into account the FULL picture" and don't just do a parrot-like "lets repeat that phrase FTB's often come out with on MSE copying the last person that said it without thinking things through fully".

Do you think that if you repeat this EVERY BLOODY TIME the subject comes up you'll magically sell your house for list price, as you've so desperately convinced yourself?

It doesn't matter why people sold their houses - if buyers see the sold prices, there's no reason they'd expect to offer more than that average.