Nov
16

Advice When Attending An Open House

It’s your first time attending an Open House and you’re not sure about what to expect and what to ask? Today in http://www.villasbroker.com we’ll give you some advice when you assist an Open House successfully without it being a complete waste of time.

Attending An Open House

Tips When Attending An Open House

It’s very common to not know what happens during an Open House day. Even a lot of people don’t even know what to ask the real estate agent handling the event. Only to have the same doubts they had when they got there as they leave.

Even though Open House events may look very casual, to simply arrive there and observe the things that interest you on the property… The best thing to do is to prepare yourself beforehand to obtain a more objective evaluation of the property.

The idea with this is to take advantage of the visit to the fullest. Since, on a popular market, it will probably be the last time you’ll look at the property before it’s sold to another bidder.

So, don’t be afraid of asking the important questions and don’t let any of your doubts remain. Are you thinking on attending an Open House? As a guide we recommend that you ask the following questions:

  • How Long Has The Property Been On The Market?

It’s always good to know how long the property has been on the market. In the real estate world there’s a common belief that if a property isn’t sold or has a lot of time on the market without any offers it’s because there must be something wrong with said property.

So, asking about this can give you an idea if the property is a good investment or if you should dig deeper to find if there’s something wrong with it. Things that you’ll only know if you ask.

This way you can also know if the property has only recently gone into the market and if it already has many potential buyers or offers; which implies that it can be a great investment.

Attending An Open House

  • How Long Has It Been Since The Property Was Built?

Another important aspect you should ask about is the amount of time the property was built on. Asking for this will allow you to know if it will need repairs soon or in the following years.

Just imagine that you decided not to ask this and made an offer for the property and you ended up buying it… but some months into the move the plumbing starts to break; or you start having problems with the wiring since it’s been a long time since it was installed; things that you didn’t know about due to not asking.

  • How Many Offers Has The Property Gotten?

It’s good to know the competition. If the property is of your liking, a good indicator that it’s a great offer or not is the number of offers that have been made for the property so far.

Besides, if there are many offers for the property, this may mean that it will sell quickly. And if you’re interested you must act fast or you may lose it.

If the property doesn’t have much of a demand of offers, it can mean that its price is too high or there is definitely something wrong with the property.

  • How’s The Neighbourhood Like?

You should always ask how’s the neighborhood as well as the neighbors. You won’t want to live near a loud property where a family that throws constant parties reside; or even moving to a neighborhood where thefts and altercations are a not so uncommon occurrence.

Attending An Open House

  • Cost Of Public Services?

People frequently forget to ask about the cost of public services.

They concentrate on the property’s price, their benefits, their advantages and more… but never take into account that they must pay the power bill, the water bill, make sure that the property has a good drain system as well as piping, among other things.

Don’t feel inhibited when asking questions, real estate agents are supposed to be there to clear any doubts you may have about the property.

We hope this information has been very useful to you 🙂

And how about you? Are you thinking on attending an Open House soon? What questions are you thinking on asking? Share your opinion on the comments below!

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