Questions to ask the seller before buying a property

Purchasing a property is a key milestone in everyone’s life. For most of us, it is the biggest investment we will ever make. So there’s no room for mistakes when choosing the property. Once you have identified it, make sure that it really is everything you hoped for. To help with this, myLIFE has put together a list of questions to ask the seller before you buy.*

This time, you think you’ve finally unearthed the advert for the perfect property which meets all your criteria. At first sight, it looks to be the house of your dreams. But don’t get carried away too quickly. Do a little detective work to find out more about the property you’re yearning for, before you take the plunge. Of course, your first port of call to help with this should be the seller.

A visit to the property is a key moment in the home-buying process. Use it wisely, by conducting all checks and asking all your questions. The answers may help confirm or refute your first impressions and provide the information you need to make the right decision.

Questions about the property

Why are you selling?

This may seem a nosy question, but it is very useful nonetheless. There may be many reasons behind the decision to move home. These reasons may be linked to changes in the life of the seller, such as a new baby on the way, retirement, or the death of a partner or parent; they may also concern the home itself, such as the need for a bigger or smaller property, one requiring less upkeep and financial resources, or in a better condition. It could be very useful to know why the seller is selling, and you could use this information to your advantage when negotiating the price of the property. If the seller is pressed for time and willing to make concessions, they may be inclined to lower the selling price and hand over the keys quickly.

If a property has been on the market for a few weeks or months without finding a buyer, it is an indication that the price is too high for the state of the property or its location.

How long has the property been on the market?

This is extremely important information which will help you to assess your room for negotiation and to determine if the property has any drawbacks that were worrying enough to put off other potential buyers before you. If a property has been on the market for a few weeks or months without finding a buyer, it is an indication that the price is too high for the state of the property or its location. The longer the situation drags on, the harder it will be for the seller to sell the property. If you are not put off, then you can take advantage of the situation to negotiate the price down.

Are there other potential buyers?

In Luxembourg, there is often far greater demand for property than supply. Bear in mind that you are probably not the only person to like the property and be interested in buying it. If you ask this question and inquire whether the property has already had many viewings, you will have a clear overview of the situation, and can avoid missing out on the house or apartment by quickly offering the asking price. However, do think carefully before acting – this is why it is important to set your criteria and your top price before entering into discussions with the seller.

Questions related to the seller’s costs

What price did you pay for the property?

Nothing ventured, nothing gained! Knowing what the seller paid for the property will tell you more about property price movements in the local market. You should also ask about any renovation works, when they were carried out and what they cost. If the overall amount spent by the seller is below the asking price, you could try to negotiate and offer a price above the total amount spent but lower than the seller’s initial asking price. If the seller doesn’t want to disclose this information, the Observatoire de l’habitat may help you gain a better understanding of market prices.

Ask the seller what the sale covers, and never assume that certain fittings or equipment are included.

What does the sale include?

If you fell in love with the fully fitted kitchen, lighting or outside play equipment when you visited the property, ask the seller what the sale covers, and never assume that certain fittings or equipment are included. In principle, everything that is permanently attached to the house (specifically, taps, built-in cabinets and exterior blinds) is included. Lighting may also be considered an integral part of the property. If in any doubt, ask for a written list of the fittings and equipment included. This will help avoid any disappointment upon purchase.

What are your outgoings?

It is particularly important to know how much the seller pays each month or year for the property insurance and outgoings (water, gas, electricity), irrespective of whether the property is stand-alone or in a condominium. Don’t forget to ask him about the amount of local taxes (property tax, waste management, sewage disposal, etc.) which can vary from one municipality to another. This way, you will know exactly what to expect and the budget required.

In the case of a condominium, find out about the condominium fees and what they include (maintenance of common areas, the elevator, green spaces, etc.).

Questions about the property

In what year was the property built?

The age of the building will give you indications about the general condition of the housing. If it is old, you might need to plan for potential refreshment works in the coming years (plumbing, electrical circuits, insulation, etc.).

What are the boundaries of the property?

Inform yourself about the exact boundaries of the property: does this wall belong to the property or to the neighbor? Is there an easement (right of way, etc.)? This way, you can avoid potential conflicts with the neighborhood.

What modifications can be made?

If the property you have spotted interests you because of its large flat land that would allow you to dig the pool of your dreams or to carry out renovations, find out beforehand if you are legally authorized to make these modifications. It would be a shame to acquire your property and ultimately be blocked in your projects.

Are there any problems with the property?

Ask about any damp patches or cracks that you notice during the visit. The seller should be able to provide you with honest information on the state of the house and any defects or faults, such as any dangerous materials used, termite problems, flood risk or history of legal disputes. This will ensure that the seller avoids any future legal proceedings and will help you to take an informed decision. Be aware that the owner is not obliged to disclose certain information. So it’s better to be proactive and take the initiative of asking an expert to accompany you – they will be able to identify any potential issues: water infiltration, too few plug sockets, etc. Take photos and make notes of what you see. With the right information, you may be in a position to negotiate on repair costs.

Have you had any issues in the past?

If the seller has encountered complications in the past and these have since been resolved, they are not obliged to mention these during your visit. However, this information could help you prevent other problems in the future. Give it a go, and ask the seller if they have had any issues and how these were solved. The seller may even be totally transparent with you, and give you the contact details of the professionals who were involved.

Ask the seller for the building permits for any renovation work carried out.

Is any renovation work required?

Although the property may look in good shape on first viewing, it’s interesting to know if any work will be necessary in the future. Prepare for any major expenditure by finding out when the property’s roof and façade were redone, and the age of the ventilation, heating and electricity systems, and the plumbing, electrical equipment and windows. Also ask when the most recent renovations and repairs were carried out, and the name of the contractor responsible for these. This will give you an idea of what remains to be done to make the house or apartment perfect. Ask the seller to provide you with the building permits and administrative authorizations for these works and any potential annex constructions (garage, veranda, pool, etc.). Indeed, if such authorizations do not exist or if the installations are not up to standards, the current owner (that is, you) could be forced to comply and dig into your wallet.

In the context of a co-ownership, also inquire whether renovation works (facade, roof, etc.) are underway or planned in the short or long term and who will be responsible for them.

Good to know: Don’t forget to ask to see the Energy Performance Certificate (EPC) or energy passport, which has been mandatory since 2007. It will provide you with information on the energy consumption of the accommodation and its greenhouse gas emissions. This will give you an idea of any potential work needed to improve the energy efficiency of the property, providing you with a negotiation leverage.

Questions about the neighbourhood

Are there any problems with the neighbourhood, or any difficult neighbours?

If the property seems to meet all your expectations when you visit, ask about the area too. It would be a shame if your daily life were disrupted by issues with the neighbourhood (fast or heavy traffic, shops, rubbish, poor upkeep) or disruptive neighbours – you might end up regretting your purchase. Ask the seller about such issues. In principle, the seller should be will to mention any problems encountered.

Don’t hesitate to ask him if there are any real estate or development projects planned in the immediate vicinity of the property. While some may offer advantages, the construction of a building could spoil your view and prevent you from enjoying the scenery. The value of the home could then be negatively influenced in the future. Take the opportunity to ask if the property is located in an area exposed to natural risks.

What are the advantages of the neighborhood?

Finally, ask your interlocutor about the type of services nearby: nurseries, schools, shops, public transport, parking, green spaces, etc. This type of information is crucial for organizing your daily life and projecting yourself into your new neighborhood.

Purchasing a property requires proper preparation and careful consideration. Asking the right questions of the seller will help you know whether you have found the house or apartment of your dreams. Short-term disappointment is better than a purchase that you regret for the rest of your life.

* Content translated from French by the BIL GPT AI tool