When you attend an open house, you should look at it as more than just an opportunity to walk through a home. Open houses are a great time to speak to the listing agent and get answers to all of the questions you have about a home you are interested in. Being prepared with questions ahead of time can give you a more direct line toward getting those questions answered. The open house may even be the only opportunity you have in the home buying process to speak with the selling agent directly. Here are seven questions to ask the next time you attend an open house.
Why are the sellers leaving?
The answer to this question can give you insight into the character of the area and the home itself. If the seller is leaving for a job or personal reasons, it is likely that the agent will share that information with you. However, if the seller is leaving because the neighborhood is dangerous, because something is wrong with the home, because the neighbors are noisy or something to that effect, likely you will not get a straightforward answer.
How long has the property been on the market?
This information should be readily available online, but the selling agent can provide more details. Maybe the house has only been on the market for a week or so, and the sellers are looking to sell quickly. Or perhaps it has been on the market for a long time because the sellers received an initial offer from buyers whose financing fell through. This information can be useful in helping you decide whether and when to submit an offer.
What updates have been made to the home?
If the home recently got a new roof or HVAC system, then you’ll want to know about it as it may influence you in your decision to make an offer. Gather as many details as you can about the home’s latest updates.
What issues does the home have?
Similarly, you will want to know what problems you would be taking on if you decided to purchase the home. The seller is required to tell potential buyers about any known structural problems or code violations. You can request a written seller’s disclosure to obtain a list of any potential issues, but some agents will be more candid in person. Take note of any issues you are told about or that you notice and factor them into the cost of potential renovations.
What is the neighborhood like?
Is the neighborhood suitable for children? Are the community members close, or do they keep to themselves? Are homeowners mostly retired people, young families or college students? Getting a feel for your potential new neighborhood ahead of time is just as important as exploring the home itself.
How much are utilities?
You need to make sure that the utilities are manageable within your budget before you make an offer. Especially if you are going from an apartment to a home for the first time, for example, you may not be used to how much higher the utilities are in your new space.
How many offers have been made on the home?
This will give you an idea of how in-demand the property is. It can also let you know where you stand compared to other potential buyers. If it is a home you are really interested in and there have been several other offers, knowing this could prompt you into action sooner rather than later.
Take advantage of an open house as a chance to gather important information about the next place that you could be calling “home!”
Looking to buy or sell a home in the Auburn-Opelika area? Contact Realtor Ryan Roberts at 334-750-9872, or email [email protected]!
