Posted by randywelborn on January 08, 2001 at 20:40:27:
There are a million things to ask, or to not ask. I like to find out if there is a mortgage. If so, how much. You sometimes have to sneak into this. Why are they selling. Because my first offer is going to be at least 25% below what I think the appraisal value will be. So the more I know about their mortgage, why they are selling, if they must sell, etc. the better. I ask about problems with the house, water leaks, gas leaks, etc., but they will not always tell you, so I check for myself… In order to buy right I need to find motivated sellers for whatever reason, and be sure that I buy the property at the rock bottom price. Always start low on your offer. Of course, it is important to know why you are buying to know what to ask. Are you going to live in the house. Is it a rental, resale, lease to own. I know this probably didnt help but let me know the situation and I will tell you what I would want to know. In the last 5 years I have purchased 13 properties that I now finance on a lease to own, and 2 of those I bought with no money down. Good luck, Randy