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Top 7 Questions To Ask At An Open House
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Questions to ask the Listing Agent of the Open House
Before attending, check with your own Buyer Agent about local laws and customs.
1) How long has the seller lived here?
It's good to know whether you're looking at a family home, or a flip!
You'll be tempted to ask "Why are they selling", but the seller does NOT have to disclose their motivation!
You'll be tempted to ask "Why are they selling", but the seller does NOT have to disclose their motivation!
2) How long has the home been on the market?
You will want to know whether they take offers anytime, or on a specific date.
Call your own agent if you want to make an offer.
Call your own agent if you want to make an offer.
3) Has there ever been a price adjustment?
It will help in gauging the motivation level of the seller. For example,
3 months on the market with no price drop = pretty much set on the price.
2 weeks on the market and already had a price drop = motivated. 🕺🏻
3 months on the market with no price drop = pretty much set on the price.
2 weeks on the market and already had a price drop = motivated. 🕺🏻
4) How much are the home heating costs?
It will help gauge how well-insulated the home is.
Don't bother asking for water bills as they are highly dependent on owner-usage habits.
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5) Has the seller done any home renovations?
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If the answer is YES, take a closer look at the workmanship.
Then talk to your own agent about the local requirements for building permits!
Then talk to your own agent about the local requirements for building permits!
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6) Is the seller making any disclosures?
In most jurisdictions, sellers MUST disclose hidden defects of their home, such as foundation cracks or hidden mold.
Discuss these with your own agent before making an offer.
7) Have you had any offers?
Note that the seller is NOT required to disclose the size of those offers, but its good to know whether there has been any interest.
Tip: Call your own Buyer Agent if you want to make an offer!
Buyers are advised to use their own agent, because the Listing Agent works for the Seller!
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Credits
Bo Kauffmann, REMAX Home Buyer Specialist in Winnipeg, Bo Kauffmann, REALTOR®, Winnipeg Buyer Specialist/Listing Agent