As a homebuyer, it’s likely you will attend at least one or two open houses during the search for your dream home. This will provide you with a great opportunity to thoroughly check out any real estate listings you’re interested in and get a good feel for the living environment. However, if you’re seriously considering buying, you should be prepared to ask the selling agent a list of questions while you’re there.
According to the real estate agents at Lawrence Realty in Red Wing, MN, open houses are the perfect time to get detailed information on a listing you can’t get anywhere else. Below, they offer a few suggestions on what to inquire about.
3 Questions to Ask About a Real Estate Listing During an Open House
1. Why Are the Sellers Moving?
While you might not get the whole story on why a seller has decided to move on, asking this question will allow you to gauge how reluctant the agent is to answer. If there is no hesitancy, and they explain the seller is relocating for a job or another understandable reason, this is good news. However, if they seem cautious about their answer, it could mean the seller wasn’t fond of the neighborhood, crime rate, or something else that would turn you off to the home. Watch for clues in how the agent responds, and continue to do your research about the house and location.
2. How Long Has the House Been on the Market?
It’s important to learn how long a house has been on the market before you make any decisions about moving forward with an offer. This will give you a good indication if there might be something undesirable about the real estate listing you have yet to discover. If it’s been months and there is still no offer, that’s a red flag and should warrant additional questions about the condition of the property and its market value.
3. Have There Been Any Offers?
Finding out whether or not any offers have been made on the property will be a determining factor in what you decide to do next. If the selling agent lets you know there have been offers, you must determine if you’re willing to enter into a bidding war. On the other hand, if there haven’t been any offers made, it could give you greater negotiating power depending on how long the house has been listed.
Open houses present the perfect chance to get the inside scoop on real estate listings you’ve been eyeing. Don’t miss out by not having your questions prepared. Contact Lawrence Realty at (651) 388-4745, or visit them online to view a current list of open houses.