LifeByTheBeach

Open House! What Questions Should You Ask When You Visit?

Posted on: June 7, 2011

Open houses can be very helpful in the search for a new home. You can get a feel for the neighborhood and what types of homes are in the area, and get to meet real estate agents that you might end up wanting to work with. There is no pressure, you can look at your leisure, and leave when you are finished.  But what questions should you be asking when you visit an open house?  I’ve compiled a list to help you navigate your way through your next open house visit.

Questions for the listing agent of an open house:

Have you had any offers on the property? The answer to this question will let you know if you have any competition for the home. You might also ask if the sellers have rejected any offers, and for what reason. The answer may help you build an offer that will meet the seller’s approval.

Has this house been in escrow? If the answer is yes, but the house didn’t sell, you would probably want to know the reason. Appraisal issue? Something discovered during an inspection? If the house has been in escrow, ask if there were any inspections done, and if yes, ask for copies of the reports. This will help you in knowing what you are dealing with, and if any secondary inspections would need to be done if you decide to make an offer on the house.

How long has the property been on the market? If it’s been sitting for a while, it might be okay to make a lower offer.  Also, be sure to ask if there have been any price reductions and when those reductions took place.

Why are the owners selling? The listing agent may not be quick to offer any details, but maybe it will come out in conversation if the owners are moving, under financial pressure, or are building another house. Any information you can gather can help you decide how much to offer, when to close, etc.

Are there any liens on this property? You don’t want any surprises, so be sure to ask and make sure there aren’t any construction liens, tax liens, or other claims on the property resulting from unpaid debt, such as unpaid homeowners association dues.

Is the home going to meet a lender’s appraisal expectations? These days, appraisal at the listing price is not a sure thing. Ask about recent comps and have your agent check pending sales to make sure you won’t run into a wall once you’ve started shelling out money for inspections and other aspects of the home buying process.

Are there any other costs of ownership? Again, you don’t want any surprises after closing. If the property you are looking at is in a condominium complex or any other sort of planned community, be sure to ask about association dues and any additional taxes or assessments. If there is a homeowner’s association, make sure you find out about their rules, such as pet restrictions, vehicle restrictions, etc.

If you are in the market for a new home in the Melbourne Beach, Indialantic, Satellite Beach, Viera, Suntree or Merritt Island areas, and would like to look at some properties, I would be happy to show you some!  Please contact me, Carolyn Smith, and we can chat about your real estate needs!

Whether you are buying or selling, it would be my pleasure to represent you!  Please call or email me today to review your real estate needs!

Contact me, Carolyn Smith at:

Phone: 321.271.0870

Email: CarolynSmithRealtor@gmail.com

http://www.CarolynSmithRealtor.com

Source of info: Melinda Fulmer of MSN Real Estate

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Your Coastal Estate Team: Carolyn Smith, Realtor & Bridget Sentz, Realtor

"Your Coastal Estate Team"

Contact Carolyn at:

RE/MAX Olympic Realty
445 Fifth Avenue
Indialantic, FL 32903

Direct: 321.271.0870
Fax: 321.574.3044

Email: CarolynSmithRealtor@gmail.com

Contact Bridget at:

RE/MAX Olympic Realty
445 Fifth Avenue
Indialantic, FL 32903

Cell: 321.537.5720
Office: 321.952.4000

Email: BridgetSentz@gmail.com

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