Important Information About Your Home
Get prepared for the questions the buyer will ask . . .
It is important to gather information pertinent to your property. It will take time to coordinate this information from old bills, tax statements, work receipts, service contracts, and warranty documents, but it pays off when you sell your home.
Prospective buyers ask questions about your home and property. The following questions can be expected and you should have the file of information to answer them:
- What do you pay in property taxes and when are they due?
- How much does it cost to heat and cool your home?
- What do you pay for gas and electricity?
- What do you pay for water and who supplies it?
- How old are various structural components and systems, including the roof, water heater, furnace, and plumbing system?
- How old are any appliances that will stay with the house?
- Do you have any guarantees or warranties on appliances or components of the home, such as siding or roofing, and are these warranties transferable?
- Are there any fees for municipal or private services, such as garbage pickup, and what are those services?
- Is your house located on a flood plain? If so, what kind of insurance is required?
- Have you had water problems in the basement or through the roof? (If so, you must show the buyer that you have rectified the problem.) Do you have warranties or guarantees on the work?
- Where are the local schools, and what is their quality?
- What is the availability and cost of mass transit?
- Where are the places of worship in the area?
- Is a copy of the survey and floor plan available?
- Have available a copy of the Condominium Documents (if applicable).
- Are there any special assessments? If so, what are the special assessments and when are they due?
- Is the current property tax for “land” only, due to the house being newly constructed? What are estimated new tax amounts, including the house?
- Have you filed for a homestead exemption?
- Are there any Homeowners Association (HOA) dues? Who is the HOA management contact? What are the fees for and when are they due? Are the fees transferable?
- Does the development have an “additional” HOA fee for boat storage, golf/tennis membership or pool facilities? What are the fees and when are they due? Are the fees transferable?
- If the property is being sold as an investment property, provide a copy of the tenant’s lease (if applicable).
- What services are available for communications? Cable, wireless, satellite? Do you know who the service providers are? Is the house wired for cable access to the internet?
- Do you have a well or septic system? Can you provide information about the inspector and the last inspection completed?
- Are there any parking permissions or restrictions?
- Are there any storage restrictions? Examples: Boat or RV must be stored in garage. No sheds over a certain size.
- Are pets allowed? Are children allowed?
- Is this home in a “retirement” area, where a minimum age is required?
- If your property is in a rural area, is an aerial photo available?
- Have you had any environmental studies done? If so, please provide copies of reports.
Having such detailed information readily available will aid prospective buyers in making quicker decisions on the suitability of your property for their future.