Open houses are one of the easiest and most informative ways for buyers to discover information about a home they may be interested in, according to Dean Graziosi. Visiting an open house is also a great way to gather insight into the neighborhood that you may not notice until you have already moved in. In addition to gathering information on the home and neighborhood, they are also great ways for buyers who do not have an agent to find one that they would like to work with.
But what many buyers aren’t sure about when visiting an open house is what types of questions they should be asking. To help you navigate the process and leave with as much information about the house as possible, we have some of the top questions that you should ask during an open house.
The first question that you should ask is whether or not there have been any offers made on the property. The answer to this question will let you know if there is any competition for the home and you can then decide whether you want to submit your own offer or continue looking. You should also ask if the seller has received any offers that they have rejected, and ask why they were rejected. This information may help you and your agent create a better offer that the seller may be interested in.
The next question that buyers should ask is if the home has been in escrow since it has been listed. If it was in escrow and didn’t sell, as an interested buyer you should ask why. Ask the seller’s agent if there were any inspections performed on the home and if you could see those reports. This will provide you with information about any problems that may have been discovered and whether you should have a secondary inspection performed, states Dean Graziosi.
Your next question should be how long has the home been listed on the market. If it’s been listed for quite a while, and not sold yet, the seller may be open to entertaining lower offers. In addition, you should also ask if the price has been reduced and when that occurred. This information can help you and your agent create an offer that the seller may seriously consider.
Potential buyers should always ask if there are any current liens on the property. This information will help you avoid any surprises once you take ownership of the home. These liens may include construction liens, tax liens, or any other claims made on the property as the result of an unpaid debt. The more information you can obtain prior to submitting an offer, the more prepared you will be to create an offer that will be taken seriously by the seller.