The Empowered Buyer Series

The One Real Estate Question Not Enough Buyers Ask

Apartment hunting can be exhausting. After weeks of searching, shopper’s fatigue sets in. So when you finally discover the apartment of your dreams, it’s easy to forget that there is a lot more to an apartment than meets the eye… and you still need to do your research!

While no one really wants extra homework, “better safe than sorry” has never been truer. We’ve seen too many unfortunate buyers discover serious problems in what they thought were perfect apartments.

Like most people, you’re probably too busy running your life to start playing detective. That’s why we recommend asking at least one question before you sign on any apartment.

That one question is: How long has this property been on the market?

This is the question that so many buyers regret not asking because the answer can unveil hidden problems as quickly as flipping a light switch in a dark room.

If the property in question has been on the market for a while (6 months or more), proceed with caution. You’ll want to probe further and find out why.

• The asking price may be too high for the apartment’s true value.
• The apartment may have mold issues, bad neighbors, or be situated in an undesirable location.
• The seller may be difficult to deal with, or prone to backing out of verbal agreements before a contract is signed.
• The apartment may not be properly registered with the necessary paperwork.

A little research should reveal if there is any of these problems are bogging down your apartment. The new information you find may not deter you from buying but may help you negotiate to bring down the price.

There are, of course, some perfectly innocent reasons (such as supply/demand dynamics) for an apartment to stagnate on the market. In some cases, the apartment has simply been waiting for you — the right buyer. Get the answers you need, make a sound decision, and buy with confidence.

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Mr. Shia Getter is an authority in the world of Israeli real estate & buyer protection. He founded The Getter Group to help you avoid pitfalls and to protect your interests. Get protected with help from The Getter Group. Call today 718-473-3950 or mail@thegettergroup.com

This article is intended to provide general information about the sub­ject matter covered. It is not meant to provide legal opinions, offer advice, or serve as a substitute for advice by li­censed, legal professionals.

The author does not guarantee that the information contained herein is complete or accurate and does not as­sume any liability for any loss or dam­age caused by errors, inaccuracies or omissions contained in this article.