When you see a house, you look at the landscaped yard, the shiny hardwood floors, and the remodeled bathrooms. You even fall in love with the floorplan. The home seems perfect for you and your family. However, sometimes what you see is not the same as what you get.
There are certain questions you should ask your realtor before making your final decision to buy a new home. These questions include how long the house has been on the market and why the home is being sold. You should also ask your realtor for a comparable sales report. Some final questions should be about the repairs needed as well as the operating costs. When these five questions are answered by your realtor, you will be more prepared to buy your perfect home.
How long has the house been on the market?
One of the first questions you should ask your realtor is, “How long has the house been on the market?” There is more room for negotiation when a house has been listed for over 90 days in comparison to a house that has been listed for only a few days.
Why is the home being sold?
Ask your realtor why the house is being put up for sale. Did the seller get a new job in a different area or are they moving in with someone else? Understanding why the seller is moving out of the home can help with negotiating the best possible price.
What does the comparable sales report look like for the last 30 to 60 days?
Another important thing to ask your realtor for is a comparable sales report for the last 30 – 60 days. The prices shown in this report should be within 2 – 5 percent of the price the seller is requesting for the home. A bigger house that has more features might have a higher asking price, while a smaller house that needs work might have a lower price.
What is the condition of the house?
You should ask your realtor if there are any repairs needed for the house. Depending on the answer, this can help to adjust the home to a fair price. You can also ask your realtor to request that the seller make the necessary repairs before closing.
How much are the operating costs?
To find the monthly cost of homeownership, ask your realtor to request copies of recent utility bills. These utility bills should show the price of electricity, gas, and water. Keep in mind that newer homes may not have gas appliances.
These are just a few questions to ask your realtor when looking at houses. For more information on buying and selling homes, contact the Elite Real Estate Group in Amarillo. Give us a call today at (806) 337-0883 or Contact Us via email. You can also view our listings to see the homes we currently have available in the Texas Panhandle area.