As a buyer, open houses are an essential source of information. They allow you to get a closer look at homes you are interested in and see if they are truly a good fit for you and your family. Get the most out of this process by coming prepared and taking notes during the open house. Here are important questions to ask the listing agent in order for you to benefit the most from the open house!
- Has there been any offers? The listing agent cannot tell you what has been offered but they can let you know that offers exist. This information can help you decide on how quickly you need to move on this house.
- What is the seller’s timeline? Knowing when the seller wants to move can help you determine your offer. If they need to move quickly, they are more likely open to negotiate a price below the listing. In addition, by finding out their ideal closing date, you can strengthen your offer by proposing a settlement date that fits their timeline.
- Is there any price flexibility? Although you might not get an answer to this question every time, you never know when you might get told “yes”.
- How long has the house been listed? Although online listings provide this information, it can be helpful to ask the listing agent because they can provide more explanation as to why the home is still on the market.
- Any price changes? Similar to days on the market, asking the listing agent for explanations of pricing changes can provide more context.
- What recent repairs or renovations have been completed? Find out about higher priced items, such as appliances, HVAC systems, and the roof. It is helpful to know what has already been done to the home and what could be potential costs for you in the future.
- How much are average utilities? Utilities are an additional housing expense every month that you should consider when buying a home. Find out the average costs throughout the year in order to know whether or not it fits within your overall budget.
It is important to remember that as you ask these questions, you should always be courteous and friendly with the listing agent. If you end up loving the home, you could enter into negotiations with this person shortly. The open house allows you the opportunity to make a great first impression!
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