What's the most common question buyers asked me when viewing a property?

Hi, my name is Danny Valencia with My City Nest powered by Keller Williams. And today I'm going to show you the most common questions that I get from buyers. So the very first question I want to share with you when buyers come into view a property is.

How long the property's been on the market for? Which is a fair question because in the eyes of the buyers, the more the property on the market for then the less it's worth. And yet that's not entirely true. The reason I say this is because the market in London is changing so quickly. It's changing every 30 to 60 days. As an example, Time on market in the NW3 area, is currently around about 60 to 90 days. And yet what I've seen is I've seen properties on the market for 120 days and then they suddenly find themselves with a bidding war with three four buyers wanted to even offer more than asking price.

And as a buyer, you don't want to find yourself in that situation. So my advice is if you really like a property, regardless of how long the property has been on the market for, then I would offer the full asking price and perhaps even more depending on what situation it's in. Because the truth is, there is a lack of properties out there, so if you'd like that property factor in the time on market, but that's not, that should not be the deciding factor of how much you're going to offer. If you're a seller out there, then my advice to you is make sure that you price competitively from the very beginning so you can completely avoid this situation.

The second most common question I get asked when buyers come into view a property is a square footage. Now again, this is clearly displayed online and yet buyers ask this just to get reassurance and looking at each different room and they like to compare of course a square footage with other properties they viewed in the area. Now square footage is important and yet there are so many other factors that actually decide how much a property is worth. Now these can be condition of a property. This can also be features of a property such as a fireplace. Very large windows, high ceilings and even the particular road the property is on. So some rows would demand more and would demand a premium depending on where they're sitting, regardless of whether other properties are worth less that are just a couple of minutes away. So if you're a seller, my advice is the same. Make sure that when you are pricing a property that you look at square footage and you factor that in, and again it's not the only deciding factor, but you should be pricing competitively when looking at other properties in the area.

The third most common question that I get from buyers when viewing a property is the boiler. They always asked me to take me to where the boiler is, where's it located, what brand it is, when it was serviced, what's the warranty on it? So make sure if you are seller, make sure you have all this information ready, that your buyer can be in the best possible position to make an informed decision. And not use this information to actually negotiate against you. I hope that makes sense.

The four most common question when buyers come into view a property is of course leasehold, share of freehold and freehold itself.

So of course one of the questions that they ask is who the other lease holds are the freeholders, the length of the lease hold itself. One question that's very common is how much does it cost to actually extend the lease hold? So make sure that you have all this information ready and available.

And of course for service charges, ground rent, and whether the insurance is included within the service charge itself. Of course, there are so many other questions that are important. These are the most common ones that I get on a day to day basis. So if you have any questions, tips, and advice weather you're buyer or seller, please feel free to reach out to me. Danny Valencia here with My City Nest powered by Keller Williams.