Searching for, locating, and purchasing a new home can be a very rewarding and exciting process. However, at times the process can also be equally stressful. To curb some of this stress you will want to team up with and utilize a professional realtor. This realtor will not only help you navigate the different steps of purchasing your desired home, but professional realtors are also a great resource to field questions and elevate concerns. During the home shopping process, there are several questions you should make sure to ask your realtor. The most vital of these questions are explored in more detail below.
DO YOU KNOW OF A TRUSTED REALTOR?
No, this isn’t a question to ask your realtor once you have begun the home buying process, but it is a question you can ask your friends and family. Likely someone in your inner circle is either close friends with a realtor or has previously worked alongside a realtor to close on a home.
Start by calling and conducting a small interview on any recommended realtors asking them how long they have been a licensed realtor, how many transactions they do a year, and what cities or communities do they know well. It is recommended to interview three different realtors and then move forward with the realtor who works best for you and your family.
It can be a stressful journey so you want to work with professionals who are knowledgeable, trustworthy, and communicate well. If your friends and family are recommending a particular realtor then you will most likely trust them more than someone you found by default.
WHY IS THE OWNER SELLING THE PROPERTY?
This is an important question to ask your realtor because their answer can reveal if there are any immediate problems facing the home. Is the owner selling because they are taking a new job elsewhere, or are they simply looking to get rid of the property? Once you realize the owner’s motivations, you may be able to better determine if the property will be a good suit for you and your needs. While asking your realtor this question, you may also want to ask about the seller’s length of residency on the property.
WHAT IS THE PROPERTY WORTH & IS THE LISTING PRICE FIRM?
Asking your realtor about the price of a property and its overall worth may at first seem blunt or rude. However, your realtor is there for you to utilize, and since they will most likely have extended knowledge about other properties in the area they can give you a solid estimate of the property’s value. Make sure to ask your realtor about the ‘high’ and ‘low’ end of property values in the surrounding neighborhood. Using these comparables you will be able to make an educated offer on the property. Asking if a seller is willing to negotiate is also a good way to judge how much room you have to work within your offer.
HOW OFTEN HAS THE PROPERTY SOLD IN THE PAST?
If a home has frequently passed from owner to owner in the past this may be a sign that there are major problems with the home. These problems could relate to the actual home, the location, or your potential new neighbors. If your agent reveals that your potential home has sold multiple times in the past few years, you should ask them why they believe this is the case. Asking your agent, how long the home has been on the market is also another way to gauge if there are any major problems with the home and the overall demand for homes in the area.
HOW MUCH ARE THE PROPERTY TAXES ON THE HOME?
Knowing the actual price of your mortgage and if you can qualify for a loan is one thing. But, as you get closer and more serious about purchasing a property you will most likely also want to know about any additional costs you will face. Property taxes and utility bills are common expenses your realtor should be able to assist you with estimating. You will also want to anticipate the various homeowner association fees and any special circumstances such as mello-roos or other special taxes. Your realtor should also be able to assist you with estimating major repairs that may need to be completed on the property. For example, the property’s slate tile roof life expectancy.
HAS THE SELLER RECENTLY COMPLETED WORK ON THE PROPERTY
Asking your realtor this question will allow you to evaluate just how great the seller was at keeping up with the property. Was a lot of work done right before putting the house on the market? Or has the owner always kept up with the home and its various components? The repairs your real estate agent is familiar with could be anything from the installation of new garage door trim to the removal of harmful pests from the property.
ENJOY HOME SHOPPING!
When home shopping, it is important to remember that your real estate agent is there to help you. They are the best source for fielding questions you may have about the property, its history, and its seller. Receiving answers to these questions will allow you to better evaluate the property and your desire to move forward with the home buying process.
Skylar Ross is a contributor to the Innovative Materials blog. He is a content writer for the construction and home improvement industries with an interest in landscaping, outdoor remodeling, and interior design. Skylar is focused on educating homeowners, contractors, and architects on innovative materials and methods of construction that increase property value, improve sustainability, and create a warm and welcoming ambiance.