What to Ask When Attending An Open House

houseOpen houses are a great way for home buyers to view properties. Knowing what to ask when attending one can be difficult, especially since you may be going there without a lot of knowledge of the property. As Dean Graziosi notes, there are several questions you should ask your realtor, and an open house is as good a place as any to begin searching for the agent who is right for you.

 

An open house can serve several purposes. You’ll learn about a particular property, the neighborhood in which it is located, and the agents in the area. Attending one provides you, the home buyer with a great opportunity to scope out the right real estate agent.

 

So what should you ask at an open house? An open house can actually tell you a lot about the property you are viewing. Sure you may have seen pictures online, or perhaps you admired the home’s exterior while driving by. Still, this doesn’t tell you much about the inside, or at least probably not the specific details you need in order to make a sound decision. Here are some good questions to start out with once you have decided whether or not you might like to make an offer on the home.

 

Have any offers been made on this property? This is a great question to start with because it lets you know whether or not any competition currently exists.

 

Have the sellers rejected any offers? If the answer to this question is yes, find out why. The answer here can actually help you come up with an offer the sellers will be more likely to approve.

 

Has the home been in escrow? If the answer is yes, inquire about why it didn’t sell. Was major damage found during a home inspection? Was there an issue with the appraisal? Find out whether or not any inspections were conducted. If one or more has been, request copies of the reports. This lets you know what you are dealing with up front and whether or not any secondary inspections will need to be made.

 

How long as the home been on the market? This is another very important question to have answered. Properties that spend a lot of time on the market often see a price reduction along the way. If the home you are viewing has been listed for quite some time, you may be able to buy it for significantly less than the asking price. Also find out whether or not the price has already been reduced and when this reduction occurred.

 

Buying a new home can be very exciting. Taking the time to visit an open house can be rewarding because it enables you to get a lot of your questions answered up front while helping you find the right real estate agent. You can learn more about what questions to ask an agent by visiting Dean Graziosi’s blog.

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