Things to Ask Turnkey Real Estate Sellers
Before you purchase or rent a turn key investment property, you have to do your homework — and diligently, if you please — lest you end up in an investment scam. Asking the right questions to your real estate agent will help you shed light on the property you are investing in. After all, you don’t want to see your money go to waste.
Here are some things you should discuss with your agent:
- Find out if the “real estate agent” you’re talking to is actually a middleman. Ask whether the seller owns the property or whether he is selling someone else’s property. It is highly unlikely that the seller will have to lie straight away, especially if he sees that you are doing a background check.
- Ask if the seller knows the location of the property by heart. Your safety should be of utmost importance. Don’t let your seller take you somewhere remote.
- Ask about the years your seller has been working in this industry. The more years he has spent as a turn key investment property seller, the more clients he’s dealt with. It is easier to do a background check after that.
- Don’t be afraid to ask about guarantees of renovation. Most turn key properties require no further refurbishments and are move-in ready, but you can talk about additional enhancements before closing the deal.
- Know about basic fees. A 20-percent down payment is safe.
- Look for the seller’s portfolio of turnkey properties. The homes should be in the same location, at least.
- Ask for the changes done on the property. Let the seller identify the things and facilities replaced during maintenance.
Asking the right questions will help you get the best investment property, so don’t be afraid to speak up.
