Attending an open house is one of the critical stages when buying a home. After all, this is the moment when a prospective buyer can see, touch and walk around a property and get a feel for it as well as ask questions to a selling agent. In fact, this stage may be the only window of opportunity to have questions answered so it’s important to have the right ones lined up.
You can start by asking how many offers the home or property has received and you’ll then want to follow up with a question on how stable the price has been. With this information you can gauge whether there is room for flexibility in price negotiation, allowing you to make a better or competitive offer.
You’ll also want to ask as to why the seller is wanting to move. The reasons could be anything like an unsafe neighborhood, poor quality schools, or maybe an unruly neighbor. On that note, ask what issues the home may have, the selling agent may be willing to divulge information that isn’t mentioned in the seller’s disclosure (which you can request).
Before making an offer, you’ll also want to have an idea of the costs involved in owning the home, especially if you’re upgrading from an apartment to a house. Know what the utilities will cost you every month, as these can differ substantially from that of an apartment.
This real estate and financial update is brought to you by FreeValues.com, the number one provider of free home values on the web. We provide free house values as well as useful information for sellers.