Attending an open house is a great opportunity to view a property you’d be interested in buying. It’s also a chance to chat with the real estate agent and bring up any issues or hesitations you have regarding the home.
Knowing what to ask can be difficult, so we’ve curated a list of the best questions to ask when attending an open house.
Does the property have additional ownership costs? If yes, what are they?
Ask the real estate agent about the other costs associated with owning the property, such as Home Owners Association fees that would apply if you’re buying in a condo complex or gated community. It’s important to know about these extra expenses in advance as they’ll need to be included when you determine whether that home is a smart purchase.
Why is the seller selling now?
You may sound like a broken record if you repeat this question at every open house you attend but the answer may give you insight you didn’t have before. Insights like how urgent a sale is for the sellers or if the home has become unbearable to live in due to seasonal infestations that could cause allergies etc. Even knowledge that a developer has bought a neighborinf property and plans to turn it into an apartment complex. With this information in mind you can make an informed decision. Any time an agent is tight lipped on the reason a home is on the market be extra careful.
Will any furniture or appliances be sold with the property?
If you’ve been renting property where appliances come standard you may not own any. Things you could take for granted as being included like a refrigerator, dishwasher or stove may not be sold with the home. If they aren’t included that’s an additional expense you’ll have to see to if you make an offer on the home.
Have you had any other offers?
Don’t forget that you are not only negotiating with the seller for a price, you are also competing with other potential buyers. Knowing what you’re up against certainly helps. While you’re still on the topic you might want to try and see if you can get the REALTOR® to divulge the amount of any other offers.
An open house is a great opportunity to learn more about a home before deciding whether you’ll make an offer, so be sure you ask the right questions. To find out more about attending an open house, contact me.