Thursday, October 9, 2008

Questions to ask when visiting open house

When I first started visiting open house, normally I will just go in, walk around and ignore eye contact with the agent because all I want to do is take a look at the place. Another reason is because I am not sure what sort of question to ask other than those simple ones.

If you don't know what to ask, you can start off by listening when other people visiting the same open house is asking questions. After a couple more listening session at open houses and a little research, I learned a little what sort of questions to ask.

Here is a list of questions you can ask the next time you visit an open house:

(1) What is the school district? Even if you think you know it already, it does not hurt to re-confirm with the agent.

(2) Is the report for the house inspection ready? What are the major repairs listed in the house inspection?

(3) Does it requires any fumigation?

(4) What is the age of the roof? Replacing the roof might cost roughly additional 10k or more out of your pocket so it can be part of the decision factor as well.

(5) Who are the neighbours around the neighbourhood?

(6) Why is the owner selling the house? For those who are superstitious, it might make you feel better after knowing the actual reason why the owner plan to sell.

(7) Whether there is any other competition that the agent know who would be putting down offer?

(8) Also ask about the mechanical systems of the house, for example, plumbling, electrical wiring, etc? How old are they?

(9) How long as the house been on the market? To see how much you can bid for the house.

(10) Any update done to the property, like addition? If yes, is it done with permit or not?

(11) How old is the property?

(12) What are including in the sale of the house?

(13) Is there a HOA (Home Owner Assiociation) cost?

There might be other questions that you might want to ask. I hope the list above will help you jump start on what questions to ask next time you visit an open house.

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