Ask your agent to obtain a property disclosure from the seller, hopefully they were honest when filling it out, if not you can sue them later ;-)
Ask the agent to run comps for you, in front of you so that you don't over pay for the house and make an offer at what comparable homes are selling for, maybe slightly less if you can.
Ask the agent if they area aware of any external obsolescence factors that will affect the community or value in the future.
External obsolescence is a reduction in value caused by an undesirable factor outside the property. Locational obsolescence, external obsolescence, economic obsolescence, and environmental obsolescence are all types of external obsolescence. External obsolescence is generally not curable.
The following are examples of external obsolescence
â€¢ Construction of a landfill or industrial site next to a residential neighborhood will cause values to decrease (locational obsolescence).
â€¢ Construction of a government subsidized apartment complex next to a residential subdivision will cause values to decrease (locational obsolescence).
â€¢ An increase in interest rates will cause values to decrease (economic obsolescence).
External obsolescence is rarely (if ever) curable
A home inspection is the only way to be sure your not buying a lemon, add on a home warranty or better yet ask the seller to see if they will pay for one for the first year and protect your future asset.
(Definition Courtesy of georgiaappraiser.com)