Ready to buy a new home? Here are 9 simple questions that you should ask your real estate agent—before you buy. Knowing the answers to these questions can save you headaches, time delays, and money, both before and after closing.
1. What are other houses selling for—in this neighborhood?
Know the local market. Your agent can tell you local selling prices—including a high and low range—as well as how long it takes to sell a home in this area.
2. Are there any foreclosures in this neighborhood?
A high number of foreclosures in the area can be a red flag—and may hurt the long-term value of your property.
3. How long has this home been on the market?
When you find a home you like, ask your real estate agent how long it’s been for sale. A home that’s been on the market for months without an offer is a red flag. Your agent can research the property’s history for you, and help you interpret this information correctly.
4. Is the seller flexible on price?
This is a “friendly” way to feel out the seller on their price. He or she can find out how willing they are to negotiate—before you make an offer. That way, you don’t offend them with an offer that’s too low.
5. Are there any problems with the home?
It’s good to know upfront if any problems with the home have been disclosed by the seller. Many of these issues can easily be fixed. Your agent can also recommend a good home inspector to walk through the home before closing.
6. Is the seller willing to help with closing costs?
Some are, some aren’t. Your real estate agent can find out if this is a way you can save a few extra dollars on the transaction.
7. Does the home come with a warranty?
For example, all ReeceNichols home sales come with the option for a home warranty from A.B. May. A good home warranty will help cover your home’s structure, major systems, and appliances for the first few months after the sale. Find out if yours comes with one.
8. What are the HOA fees and guidelines?
Many neighborhoods in the Kansas City area required you to pay a yearly (or monthly) homeowners association (HOA) fee—and require you to adhere to their guidelines. Make sure you know what the fees and expectations
9. When can I move in?
Find out when the home is available for move in—once the sale closes. If it’s contingency on the sellers also finding a home, this may take awhile.
Ready to buy a new home? Your ReeceNichols REALTOR can help you find the best possible home to fit your needs. Find a ReeceNichols REALTOR today.