Of course there are many questions to ask your Realtor about a home you’re interested in purchasing; however, here are 7 we suggest you start with in order to get the conversation started and get some insight into that particular property.
- What about this home stands out to you? Agents see numerous homes daily –they’ve seen everything the area has to offer and then some! Use their expertise to uncover the unique features that particular home has to offer.
- Is it priced right? Make sure the asking price is comparable to the value of the home and the neighborhood. Agents can research the assessed value, tax history, and compare those figures with similar homes that recently sold in that area. They can tell you how long homes are staying on the market and how close to the asking price the sellers are getting. Also ask your agent how flexible the sellers are on the price. If the sellers are motivated, you could negotiate a fair offer below the asking price.
- How long has the property been on the market? If the home has been listed for quite some time it could mean that the market is slow or the property is overpriced. This figure will give you an idea on how to possibly negotiate an offer with the sellers.
- When can we potentially move in? Before you fall in love with the property, it is good to know if there are any extenuating circumstances that could delay a closing or move-in date. Is the property vacant? Is it a short-sale? Is it an estate? Find out the details first and ask the process involved with putting an offer on that particular property and situation at hand.
- What problems does this house have? Read between the positive fluff descriptions that praise every house as “perfect” and “move-in ready”. Find out from your agent what potential short-comings or repairs this particular property will need. Make sure to look the home over with a discerning eye – don’t just fall in love with the neutral color palate and general open concept layout. Ask yourself if this home will be the best home for your family and what changes are necessary versus cosmetic.
- Is this home in a flood zone? Living in a flood plain can require flood insurance, another expense you most-likely did not anticipate. Can you afford these additional costs? Are you still comfortable considering this property? For more information, FEMA posts free maps online to show which properties fall in a flood zones, but you can double check with the county and your agent.
- Are there any offers on this home? Find out what interest the sellers have had in that property. Agents will typically let other agents know if they anticipate a potential offer made from a previous showing appointment. Don’t make a decision based off emotion that you could potentially lose this home to another buyer, but it’s wise to know if you need to put together a serious offer sooner rather than later if the home is a real contender.