Facebook Pixel

What to Ask During an Open House

By Mike in Buying Tips with 0 Comments

As a buyer, open houses are more than a walkthrough of a home–they’re an opportunity to see if you can picture yourself in the space and speak with the listing agent for more information on the loft or condo for sale in Downtown San Diego. The open house may even be your only chance to directly ask the listing agent questions. Here’s a handful of questions you can ask the agent to get a better idea of your negotiating power and find out information that isn’t in the listing.

Why is the seller selling now?

This is a better question to ask than how motivated the seller is because the agent probably won’t give you the stock response: “Very motivated.” By asking about the seller’s motivation to sell, you will get more insight into what the seller needs to part with the property.

Have you had offers?

You aren’t just negotiating with the seller. You may also be competing with other buyers for the property. If offers have been made, the seller will probably tell you so in hopes that you will bid and drive the price higher.

How long has the property been on the market?

While you can get this information yourself, it’s a good idea to ask the listing agent as they can put the information into context. The property may have been on the market for so long because a previous contract fell through due to financing problems, for example.

What are typical utilities and HOA fees?

It’s a good idea to know what you’re getting into before you make an offer. Ask about recent utility bills and any other monthly costs like HOA fees and special assessments you may need to fit into your budget.

Is there anything besides price that is important to the seller?

While price is usually the most important factor to a seller, other factors may make a difference if the property receives multiple offers. For example, the seller may be more likely to accept an offer with a short escrow.

If you’ve been checking out Downtown San Diego real estate, consider working with a friendly and experienced agent. The right agent can guide you through the process, ask the right questions at an open house, and help you find the property of your dreams. Don’t hesitate to reach out today. ')}