Questions to Ask When Purchasing an Investment Property

Why is the vendor selling? How long did the last owner live here? Have they already found somewhere else to live? Gauge the situation and establish if there are any iffy circumstances straight on. Be a detective!
What offers have they had so far if any? What’s the lowest amount they’d sell for? The agent is likely to be honest about this if they have been instructed to sell quickly. Buy without a mortgage and refinance!
Get a Survey if you are going to purchase the property
How much are the service charges and ground rent if there is any? What is the council tax band?
How old are the drains and guttering? Have there been any problems with damp? Check the home thoroughly, including walls and behind furniture for possible leaks or cracks. Get a damp meter.
When was the electric last rewired?
What kind of boiler it is – a combi-boiler? How old is it? Does it have a guarantee?
Remember to check the EPC to see what the energy efficiency is like in the property.
Do your research on Rightmove’s ‘Sold Prices’ section to see what similar properties in that area are going for. Do your own home work! Do not rely on the estate agents estimations.
If the property is a HMO get a break down of tenant payments.