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Visiting Open Homes
An open house can be an opportunity for you to get information about homes and the housing market. Open houses are a common real estate practice because they give an agent the opportunity to market the home and to meet prospective buyers.
Here are some questions you may want to ask:
  • Are you the listing agent for this house? Busy agents sometimes arrange for a colleague or assistant to conduct the open house. Don't assume the person showing the home is knowledgeable about the house or has met the sellers.
  • How long has the home been on the market? Well-priced homes in good condition generally sell in a short period of time. Unless the local market is weak, you will want to know why a particular home is not selling. Are there hidden defects? Is it overpriced? Are the sellers requiring something that may seem unreasonable as a condition of the sale?
  • Have the sellers received any offers? If the sellers rejected offers that were too low or had contingencies or conditions, you should find out before you experience the same.
  • Is any furniture or fixture being sold with the house? If you're thinking of buying the home, there is no better time to ask whether the seller would be interested in including the patio furniture or the dining room chandelier.
  • Are there any special costs attached to the property? Is there a homeowner's association that has dues or fees? Are there particular tax assessments? Are there any natural hazard issues to be aware of? Are there any hidden costs of owning the home?
  • How does this house compare to others on this street? The local agent may be able to speak about recent sales in the neighborhood as well as some interior ideas seen in other homes.
For Buyers
        Finding a Good Agent
        Benefits of a Buyer's Agent
        Preparing To Buy a Home
        Getting Prepared To Buy A Home
        First Time Buyers
        Renting vs. Owning
        How Much Do I Need
        How Much Can I Afford?
        Income vs. Debt Ratios
        Understanding Your Credit Score
      Examining Your Credit History
        Getting Pre-Approved
        Finding A Property
        Are You Ready To Find A Property?
        Visiting Open Homes
        Using A Property Checklist
        Other Considerations
        Making an Offer
        Establishing an Agreement
        The Agreement of Sale
        What You Need To Know
        Negotiating
        How Much Should I Offer?
        Closing The Deal
        Your Responsibilities
        Property Information
        The Loan Process
        Closing Costs
        Who Pays For What?

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