5 Questions You Need To Ask At An Open House


Find Out All The Dirty Secrets To A Home

When browsing the market, most of us end up obsessing over the physical qualities of a house and forgetting to look for flaws. You need to remind yourself that houses have history and depth that go beyond its oak wood flooring and Victorian style bathtubs. When buying a home, there are five essential questions that you should be asking your realtor. Asking these questions will help you make a better offer, and find out all the little details that homeowners and realtors might be hiding from you.

SEE ALSO: 7 Questions You Must Ask Neighbors Before You Buy

1 What Are The Other Offers On This House?

Buying a house entails competing against others for the keys. Be sure to ask the realtor if there have been any other offers on the property you want. If they say no, you can celebrate for being the first, but also be weary of why others aren’t as interested as you. You can also ask if the seller has rejected any offers. If so, ask why.

2 Why Are You Selling Your Home?

For the most part, you’ll probably be dealing with a realtor. But sometimes, the realtor will divulge some secrets to you, if you’re lucky. In some cases, the homeowner may be under financial pressure to sell the house. The urgency to get rid of their home suggests that the homeowner may be willing to cut their profits to cover their costs.

3 How Long Has The House Been On The Market?

The longer the house has been on the market, the more desperate the homeowner becomes. If the house has been up for sale for a while, the seller may be more inclined to accept a lower offer. Also take this opportunity to ask if there have been any reductions on the property.

4 Are There Any Special Ownership Costs I Should Be Aware Of?

Don’t forget to research the neighborhood. If you’re looking at a condo, then you should be aware thatyou’ll have to pay a Homeowners Association Fee (HOA Fee) to cover the cost of community maintenance. This includes landscaping, facility upkeep, pool cleaning, and all the other maintenance required to keep the community up to standards. These fees can be monthly or annual.

SEE ALSO: What To Expect When You’re In Escrow

5 Can I Have The Disclosure Report?

This may be the most important question you ask. The disclosure report lists all of the issues with the property that the seller knows about. It also tells you when the last time the house was inspected. If it’s been awhile since its last inspection, be sure to ask the realtor about problems that could have manifested since. For instance, if the property is located near the ocean, you know that mold is a common issue that often goes overlooked. Buying a house is a huge investment, and you have every right to know if there’s something wrong with it.
Date of original publication:
Updated on: November 10, 2015

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