So you’ve gone to an open house and you’ve become instantly enamored with the home and want to buy it on the spot. Before you become a little overeager and make a rash decision, there are a few things you’ll need to do first before the house can be yours.
You’ll need to determine what your best offer is going to be, and this is one area where your real estate agent can be a tremendous help. Assuming he or she has done a comparative market analysis, you should be able to come up with an offer that’s competitive but not too much. Be patient, remember that accepting an offer will also be a major decision to the seller too.
If you feel you may have overestimated, bring it down to something that’s closer to your budget even if it means possibly losing the home to another buyer. Always remember that the price you pay for the home is one of the many costs involved in homeownership and if the home inspection reveals major problems that the seller isn’t going to be responsible for, these will ultimately become your responsibility.
Now let’s say you really like the home but aren’t entirely convinced it’s right for you. You might want to consider paying the home a second visit with your agent and bringing someone along to give you their own second opinion. Remember that open houses are intended to showcase the best features of your home so having someone else take a look or maybe even visiting at a different time of day could help you determine if it really is the right home for you or if it’s best to pass it up.
And lastly, if you go to an open house and end up disliking the property, use this as a means of determining what you won’t accept or don’t want in a home. Maybe you had your heart set on a ranch style home only to realize it wasn’t really right for you and you’re better off in a Tudor. Broaden your search and don’t accept something you ultimately will not be happy with.