Asking the right questions is crucial when buying a home to ensure a smooth transaction. We’ve put together a list of must-ask questions for you that will make all the difference when it comes time to make an informed real estate decision. There’s a property’s history to learn about, neighbourhood features to explore and more! Let us help you confidently navigate through this important time in your life.
It’s happening! You’ve found listings that check off some boxes and you’re ready to visit! How should you go about collecting information on these properties in your sights? A real estate broker recommended by Confia can guide you through the process!
Why Confia?
The broker supporting you can make inquiries on your behalf and advise you on what questions to ask. They’ll take charge of all the back-and-forth communication with listing party. The Confia real estate agency will recommend a selection of broker profiles that match your project’s specific needs.
You’ll benefit from the best possible support for your real estate transaction. You’ll enjoy an unparalleled experience from the start of the project until it wraps up, safe in the hands of a dedicated team and partners. The broker you choose will be responsible for accompanying you in various ways and providing you with quality service.
Asking price
Before committing to buy a house, it’s essential to get information about the asking price. This research will not only allow you to assess your financial situation and project feasability but also avoid extra costs linked to various fees. The real estate broker recommended by Confia who will accompany you is also prepared to effectively negotiate on your behalf. Let’s take a look at the most relevant questions to ask that could have an impact on the asking price.
1. What year was the property built?
The age of a house can provide information on structural soundness, materials used, condition of mechanical and electrical systems, as well as compliance with local standards. These details are available in the construction history and affect a home’s value.
For example, an older home can have obsolete electrical systems and plumbing, which will require costly upgrades to meet local bylaws. On the other hand, a newly constructed home was built with modern materials and newer mechanical systems, which will require less maintenance in the short term. That could also influence your decision to buy.
2. How big is the property and lot?
House and lot size are of particular importance. It impacts not only the price but can also lead to questions about upkeep requirements, possibilities to expand and whether it fits your lifestyle.
A property with some land would be perfect if you’re an active person who spends a lot of time outdoors. Future interesting options could include starting a garden, installing a pool or simply having your own space to enjoy being outside.
3. Can you provide details about the property?
The declaration of the seller is a document that provides a complete overview and details about the condition of the desired property. By consulting it, the real estate broker will raise information related to the property and recommend expertise if he or she identifies problems that could have an impact on the home.
Note that many of the questions addressed in this article can be answered by reviewing that declaration. A broker recommended by Confia can help you to better understand all the details listed.
4. What items are included and excluded in the sale price?
Prior clarification of inclusions and exclusions in the sale price will guarantee a transparent real estate transaction. The goal is to avoid any misunderstandings and know exactly what the buyer or potential buyer can expect to get when buying a property.
Some items, like household appliances, light fixtures and built-in furniture could raise the sale price. All items that are permanently attached to the property are an integral part of the dwelling. If the seller wants to take an item, it must be added to the list of exclusions.
5. What factors justify the asking price?
Housing prices vary by region, by neighbourhood and even by street. You should be aware of what factors have an impact on prices to be able to better understand your local real estate market.
Note that you’ll need to consult the list of recent sales of comparable homes provided by your recommended broker and/or the property assessment report completed by a chartered appraiser, both essential and objective tools you need to consider before buying a home.
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6. Does a property currently have an offer to purchase?
According to industry rules of practice, your broker will be notified about an existing promise to purchase on the property you want. That being said, this question sheds light on the competition. Knowing about a promise to purchase will give you a chance to tweak your strategy according to market dynamics, as the law of supply and demand affects selling prices.
Say the property you’re interested in already has an offer to purchase. That would affect your bargaining power. The seller will be sitting pretty if there is a solid promise to purchase. In the event where an offer doesn’t meet all their expectations, they may be inclined to chat with your real estate broker and be motivated to receive a more interesting offer.
Condition of the property
A property’s physical condition needs to be assessed with a fine-tooth comb before committing to buy in order to avoid future issues and unforeseen costs. A new construction will likely not require as much upkeep as an older home that may need something like foundation work done.
7. Is the house up for sale due to its current condition?
It is normal to inquire about the reason for selling a house in order to foster an honest relationship with the seller and to help you make better decisions. However, the reason for the sale is confidential by nature.
8. Are there any moisture or mould issues?
Moisture and mould cause structural and aesthetic damage, as well as affect the health of people who live in the home. You can always arrange for work to be done to get rid of these problems. If not, give this property a hard pass.
This information is specified in the declaration of the seller.
9. Notice any cracks?
Cracks in the structure of a house can sometimes be an indication of more serious structural defects, such as an unstable foundation. If you have identified any during a property visit, it’s recommended to call a building inspector who can identify the nature of the problem and offer advice as to your next steps.
This information is specified in the declaration of the seller.
10. Have you tested for pyrite, asbestos or radon?
It’s essential to find out about the presence of any harmful substances before buying a house. This is a must-do because that could have a serious impact on the safety and health of people living there. Let’s review some of the materials and why it’s so important to detect them:
Pyrite Tests that detect pyrite in the soil are used to assess the structural soundness of a house.
Asbestos Materials that contain asbestos, commonly used in construction, can cause breathing issues. Pay attention if the house that you’re interested in was built between 1930 and 1990. These minerals were popular back in the day!
Radon It’s a naturally occurring radioactive gas that sometimes seeps through the soil of properties. It can be harmful to health.
This information is specified in the declaration of the seller.
11. What about insulation and soundproofing?
A well insulated home requires lower energy consumption for heating and cooling, which means you save on the electricity bill. You should ask for information on the materials used to insulate the walls, roof and windows, as well as the year of the work, if applicable.
Meanwhile, a well-soundproofed property minimizes the transmission of noise coming from outside as well between rooms. It greatly improves your quality of life at home and isn’t that an ultimate end goal?! So ask questions about soundproofing features in the main rooms of a house, such as party walls and floors, to assess the level of tranquility a property will offer.
This information is specified in the declaration of the seller.
12. Are installations on the property up to code?
The Régie du bâtiment du Québec requires compliance with construction standards. This confirms a property’s legal standing, as well as the safety and comfort of its occupants.
Be aware that insurance companies may refuse to cover a substandard home or charge higher premiums. Here are a few things to verify and reasons why they should be on your checklist.
These information (as well as the answers to questions 13 to 18) are specified in the declaration of the seller.
13. When was the current roof installed?
To anticipate any future repair or replacement needs.
14. When were the windows installed?
To ensure a home’s eco-friendly qualifications.
15. Does the electrical panel comply with Régie du bâtiment du Québec safety standards?
To anticipate replacement costs and reduce the risk of fire. Your broker can refer you to specialists to validate compliance if necessary. Also note that the seller's declaration specifies if and when the electrical panel was changed.
16. Does a woodstove meet insurance company standards (if applicable)?
To prevent insurability issues and ensure fire safety in your home.
17. What year was the hot water heater installed?
To estimate its remaining service life.
18. If there’s a septic tank, should I get it inspected?
To check that the sewage system is working properly and avoid any health issues. This information can be found in the seller's declaration. If necessary, the real estate broker may recommend clarification.
Renovations
It’s advisable to request details (and supporting invoices) about repairs and renovation work carried out on a property. That will give you a better idea of how a dwelling has been maintained.
19. Has there been any damage to the house in recent years?
You need to be up to speed in order to plan for future renovation costs. For example, if the house has suffered recent storm damage, the buyer or potential buyer can consider taking corrective action to prevent history repeating itself. This information can be found in the declaration of the seller.
20. Are there known issues requiring renovations?
Find out about the defects of your future property so that you can make an informed buying decision. A real estate broker may be able to help you identify certain concerns. However, it's the inspector who formally raises potential problems during the visual inspection. A report will then be provided with a description of the elements examined and recommendations for work to be undertaken, if applicable.
21. Do you have all the financial records from previous work done?
That means quotes, warranties and certifications. If available, it is suggested that the seller have these documents. You need to answer this question to ensure you’re getting the whole story about a property’s renovation history.
This legwork is carried out to protect you. You can see for yourself whether work has been completed in compliance with standards in place and whether the property has been properly maintained. You can call on an expert to check whether the work complies with standards and whether the house has been properly maintained.
Expenses related to owning a property
You have to take the time to anticipate additional costs that will crop up after becoming a homeowner. By taking stock right away, you’re taking command of your financial future. Your buying project will become more than just a dream but also a reality you can afford.
You choose peace of mind when you decide to take advantage of the personalized pairing service offered by Confia. Your satisfaction is the top priority of brokers recommended by the real estate agency.
22. Who owns the fence surrounding the house?
Who is responsible for maintaining a boundary fence, if applicable? In this case, consultation of the certificate of location will be recommended.
23. What recurrent costs are associated with the property?
Monthly and annual payments (or ongoing expenses) such as property taxes, school taxes, insurance, electricity and heating should be taken into account to establish a realistic budget.
24. Are any items rented?
It’s important to understand what financial commitments are associated with the property you want to buy. A rented hot water heater could be considered a long-term expense, for example. If applicable, this information should be mentioned in the declaration of the seller.
25. How much are the condo fees?
Are you planning to buy a condo? Find out what fees are included as they represent a significant share of the costs associated with owning a shared property. They usually cover the maintenance of common areas, electricity, heating and insurance. Again, this information can be found in the seller's declaration if applicable.
The environment
Becoming a homeowner involves more than simply paying the asking price. For many, it’s also about finding the perfect place to call your own. The neighbourhood and next-door neighbours will also have an impact on your future lifestyle. Before committing to being the new kid on the block, run through the following questions to get an idea of what to look for when exploring the surrounding area.
26. Are there noise disturbances nearby?
If you hear any sources of loud noise close to the home you’re visiting (busy roadways, a factory that makes a lot of noise or loud public spaces), that may be a dealbreaker preventing you from closing the sale. This would be especially true if your ultimate goal is peace and quiet. That said, it's best to rely more on the general location of the property.
27. Howdy neighbour!
Lifestyle and community spirit: two factors that top the checklist when scoping out a potential neighbourhood before buying a home. Are they important to you? We're talking about what's located around a property. The presence of restaurants or bars (or both!) sets a different scene than living close to a park or school.
28. Are there any development projects planned in the area?
It’s a wise move to find out about any future development projects that could have an impact on property values over the long term. Are there any future residential developments, public infrastructure, recreation areas, shopping centres, etc. in the works?Real estate brokers can discuss these points.
The bonus question
It’s go time and you’re ready to make a promise to purchase. Consider this final question to increase your chances of success by making an attractive offer that can’t be refused.
29. What would be the ideal date to sign the deed of sale?
Talking about the date of sale and when to take possession is more than a simple formality. It’s one factor that could make a real difference in your home-buying process.
By making some strategic adjustments (depending on answers received from the listing party), you'll facilitate the moving logistics and show respect for everyone's plans. A transaction can be concluded after a possession date is determined that works for both parties.
In fact, buying a property requires a lot of analysis and reflection. Are you feeling like you want to have support tailored to your needs? Think about the different benefits of working with a recommended broker. Confia will offer you a personalized pairing service.
Start a project
These professionals are ready to guide you through each step of the transaction and provide you with invaluable help and advice adapted to your situation. Working with one of them makes the process flow a lot easier and gives you the peace of mind you deserve to undertake such a big financial decision.
FAQ
What questions should you ask when buying a property?
When you’re interested in buying a property, you need to inquire about its asking price and condition, whether renovations were recently carried out or planned, any expenses involved and the neighbourhood.
Practical questions include:
What features justify the asking price?
Do a home’s features comply with construction standards required by the Régie du bâtiment du Québec? Are there any issues in the home that will need to be addressed?
Why should you find out about a home’s condition before buying it?
You need to know about its strengths (such as a sound structure or recent renovations) and its weaknesses (such as pests and non-compliance with standards). Effective information gathering will allow your real estate broker to enter into some smart negotiations with the selling party, save you from some unpleasant surprises and ensure you’re making a wise investment choice.
What are some pitfalls to avoid during a real estate purchase?
Not getting mortgage financing
Not asking enough questions about a property you’re interested in
Solely focusing on the asking price and not factoring in regular expenses and long-term ownership costs
Failing to identify potential issues with the home
Not taking into account the neighbourhood when making a decision
Not realizing there are closing fees associated with finalizing a real estate transaction
Ever heard of caveat emptor or buyer beware? A pre-purchase inspection is always highly recommended but the choice to book one or not is ultimately up to the buyer.