Attending an open house is ripe with excitement, providing you with a potential glimpse of the life that may be yours. And yet, it’s also a crucial endeavor–a time to learn as many details as possible about an estate before you make a decision and put in a purchase offer.
With this in mind, real estate expert Mara Haveson has put together a list of the 13 most important inquiries to ask homeowners and their listing agents during an open house.
When did you put your home up for sale?
Understanding how long a home has been on the market can tell you–or at least imply–plenty. In some ways, it can be a double-edged sword: If the home has been for sale for a substantial amount of time–particularly in today’s hot market when houses are selling swiftly and oftentimes sight unseen–it may suggest the owner didn’t strike an appropriate asking price, there is something significantly amiss with the home, or the owner refuses to budge during negotiations. At the same time, if you fall in love with the home and it has indeed spent a good deal of time on the market, you and your realtor are in a prime place to negotiate a reduced price. Most homeowners try to avoid the exasperation that arrives with a protracted selling experience.
May I ask why you’re selling your home?
The answer to this question runs the gamut: The homeowner may be relocating, upgrading or downgrading, or preparing to travel. But some homeowners choose to sell because of its drawbacks–an exceedingly loud neighbor, perpetual construction nearby, or a fault within the structure that is prohibitively expensive.
Have you received any offers?
Whether you’re entirely certain you want to make an offer or are weighing the pros and cons of the residence and its location, it’s smart to know if the owner has received any offers–and, if so, how many. If they have received multiple offers on their home, you may have to increase your offer; if they have not, you might find yourself in a solid position to negotiate a reduced price.
Has it gone through a pre-listing inspection?
Even the most well-meaning and candid homeowners may not be aware that their roof is on the verge of deteriorating during the next storm; and while having a home inspection conducted is part of your due diligence as a homebuyer, inspections typically take place after you have put in a purchase offer and an earnest money deposit–and there’s no sense in going through this process if the home requires major renovations. Ask to see the inspection report and consider what changes you would have to make before moving forward.
How long have you owned your home?
How new are the appliances?
What are the landscaping obligations and costs?
What do you pay for utilities?
Is the home part of an HOA?
What time does the neighborhood quiet down at night?
What renovations have been accomplished?
Flooring, windows, countertops–if high-quality materials have been used when the home was last updated, you may not know that they’re years old…and may be due for another upgrade sometime soon. Ensure you understand when the home last saw renovations, and what, precisely, was performed.
