Congratulations! Your real estate agent found you the home of your dreams. Surely, it’s time to celebrate. By now, you guys might already have quite the relationship. But simply finding a home isn’t where the property journey ends. Sometimes, this just means you’re getting started.
Ask anybody who’s bought real estate and they will tell you that it will be a long, tedious process. Nobody knows this more than your agents themselves. That’s why it’s still important, even in this stage, to keep asking them questions. Here, we’ll be giving you a few quick pointers on the things you should clear up with your agent before starting the purchase process.
May we request a comparative market analysis?
Let your agent determine if you’re paying a reasonable price for that house and lot or condo. You never know, the property might appraise for a lower offer price. If, for instance, you find the property situated in a competitive market, some offers might turn off some sellers.
That’s why you should also ask if there is any room for negotiation. A good agent should be ready to give you advice on your next steps before the actual purchase.
What are some concessions that we can make?
When we say concessions, we are pertaining to certain requests buyers make to sellers. These concessions include the seller paying for bathroom and pipes renovation, extermination, home warranty for six months, and the like. Your agent can work on these terms. Feel free to ask your agent if they see any way the two parties can appease each other.
Download: Best Properties to Buy in the Philippines for Different Budgets in 2021
What red flags do you see in this property?
Just talk to your agent if they anticipate any unforeseen problems. Based on their experience, knowledge of the listing, and the market analysis, they surely know a red flag when they see one.
How much will the closing costs be?
Closing costs such as documentary stamp tax, title registration fee, transfer tax, and more are only a few of the fees you have to take into consideration. Be sure to ask your agent about the necessary documents and requirements.
Some incidental expenses like notary fees and the like should also be considered. Any agent with your best interests will know this and will gladly provide you with a sample computation of the closing costs.
Believe it or not, there are some agents who are just looking to close a sale. Be wary of the kind of agent you have. Hiring a good agent who values your goals is crucial, from the first step all the way to the final stages of the home-buying process. Remember, more than just asking questions, it’s essential to be asking the right ones.
Are you looking to purchase a resale property? Get in touch with an Ohmyhome property agent today to get started. For more information on the best and latest property listings nationwide and how our Ohmyhome’s online ecosystem helps buyers and sellers like you, visit Ohmyhome.com or download the official Ohmyhome app.
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.
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