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Know the House Before you Buy the House
Friday, June 10th 2016 11:40 am

There are so many questions to ask when you are looking to purchase your new dream home.How much are the closing costs? What's included in the price? Are there Association fees?

According to Josh Altman, Million Dollar Listing Los Angeles star there is really only one question that a potential home buyer should ask.

Whats very important for you to ask is why the sellers moving, Josh Altman told HuffPost Live. Youre going to learn a lot from that answer.

Other important questions are:

What houses have sold withina one mile radius in the past six months?

This answer will give you a good idea whether or not the house that you are looking at is priced correctly.

How flexible is the seller on the asking price of the home?

You don't want to insult the seller by throwing out some low ball bid. Do a bit of research and find out how firm the seller stands.

What are the monthly utility costs?

You won't get away without paying your utility bills, but it is a good idea to know in advance what your monthly bills could total out to.

How long has the property been on the market?

There are couple of reasons why this may be important. If the property has been on the market for a long time, (over 4 months) is there something wrong that you aren't seeing? It is possible that if the property has been on the market for some time that the sellers may be interested in taking a lower price?

What is the neighborhood like?

Inquire about the schools, crime rate, transportation, nearest gas station,grocery store etc. These questions will be important if you purchase the home.

Knowing everything you can about the home that you are looking to purchase allows you to the opportunity to budget smartly and be prepared for the little things that you may not think about until you've already moved in.