7 Questions You Won’t Want to Forget to Ask a Listing Agent at an Open House
Buying
You finally found the listing online and now you’re eager to take a deeper look inside! For buyers, an open house is a convenient and quick opportunity to (literally) get the inside scoop about the house that you most likely won’t get from the online listing. Plus, the listing agent will be there, ready to answer questions…so come prepared. Before you head out the door, remember to take along your handy list of questions to ask the listing agent as you’re touring the home.
Just add these questions to your own personal needs so you can get right to the point when you arrive.
Top 7 Questions to Ask a Listing Agent at an Open House
1. Why is the home for sale?
This is very common question that can quickly get to the bottom of any serious problems with the home. Even if the listing agent doesn’t say so outright, watch how they react. Keep in mind that the listing agent is working for the seller. It is their responsibility to demonstrate lawful instruction. If you suspect they’re not explaining enough, then ask your real estate agent to dig a little deeper and get a better idea of what (really) might be going on with the home.
2. Does the home have any known problems?
The main reason you’d be asking a listing agent at an open house why the home is up for sale (question number 1), is really to help you gauge if there are any known issues with the home. In most states, the law requires real estate agents to disclose any structural problems or code violations to potential buyers. If the listing agent is aware of any major issue that could affect a home buyers purchasing decision, it should be disclosed.
However, in some states, sellers are not required to disclose problems when they’re selling their home, called caveat emptor, also known as “let the buyer beware.” This is one of the main reasons why home inspections are a critical part of a real estate transaction.
3. How long has the home been sitting on the market?
Get the low-down on how long the home has been on the market and if there have been any drops in the price tag. If the home has been listed too long, it can be harder to sell, which gives you more bargaining power. Plus, once you find out if there have been any changes in the price of the home, you can gauge whether you may bet the home for an even better price. Now, if there’s a history of multiple decreases in the price, you may need to dig a little deeper to find out why the house isn’t selling.
4. Are there any other offers on the home?
If there are any other offers, a listing agent is usually excited to share this news since the competition might spark a bidding war and drive up the sale price. It’s best to be prepared and know what you’re getting into if you fall in love with the home.
5. What have been the recent renovations?
Sure, you may notice the shiny new appliances in the kitchen, but the other updates (or lack thereof) may be harder to see. Ask about the age of the roof and electrical systems, for example. And find out if there has ever been remediation done for mold or if the home has been tested for the presence of elevated radon levels or lead. It’s important to be aware of any home improvements. They can often speak to how much the home is worth and offers a piece of mind for the buyer.
6. What can I expect for utility costs?
Upsizing to a larger home? Depending on the square footage, with the HVAC system and other efficiencies (or rather, inefficiencies), you may be looking at much larger utility bills than you’re used to seeing. As the listing agent to see utility bills to get an idea of what to expect seasonally. Also, find out about cell phone service coverage and other necessities such as internet access.
7. What is the neighborhood like?
You’re going to want to choose a home and a neighborhood that suits your lifestyle. Get an idea what the area is like by driving around. Then ask questions about nearby conveniences, schools, parks, shopping centers, entertainment, noise, safety, known sex offenders living nearby, etc. Additionally, learn about any homeowner’s association specifics, taxes, insurance as well as the walk-ability factor.
When you go house hunting, remember to bring along these questions to ask a listing agent at an open house. It’s much more than just a casual walk-through. Use the face to face time to learn what you can about the home. Go ahead…don’t be shy.
