If you are interested in buying a new home, you will have questions for your realtor. But are you asking the right questions and not forgetting to find out certain aspects in the home buying process? Below are a few example questions of what you should be asking your realtor to find the best home for you and your family. Never be afraid to ask questions so you fully understand what is going on during the purchasing process.
Do You Have Experience in the Area?
This is very important. You want to be sure that the realtor you are working with has experience in the area you wish to move. Realtors who have worked in the area before will know where to look to find exactly what you are looking for. The realtor will know the neighborhoods, schools, businesses and more, helping you to find the key details you need in a home. An experienced realtor will also know how to get the best deal by knowing the median price points.
What is the Bottom Dollar You Recommend for a Potential Purchase?
Don’t just offer full price or way below asking when making a bid for a home. You want to get the best price but not insult the seller. Ask your realtor what they would recommend as the bottom dollar price. How low should you go to still be in contention to get the home but not over pay. You want to make a sound financial decision without spending too much on such a big investment.
What Contingencies Should I Consider?
Contingencies will vary depending on the home you are interested in purchasing. You may have a contingency of moving in within 30 to 45 days, repairs, etc. When the inspection of the home comes back, go over every detail carefully with your realtor. Ask your realtor what options you have in regards to contingencies. Your realtor should be able to suggest what you should do to get the best deal. For example, the home you are interested in may need a new HVAC system. This can cost $6,000 or more. You have several ways you can go about this. You may want to ask for the system to be replaced by the home owner. You may want cash provided so you can have the unit installed yourself. Or perhaps you want that amount taken off your overall purchase price.
Your realtor will be able to look at all the angles, helping you find the best way to get what you want without overpaying or losing out on the deal. Be sure you understand every aspect of the contingencies in place, when you can move in, what will be fixed, etc. before signing on the dotted line.
These are just a few simple questions you can ask your realtor during the home buying process. Use the knowledge and experience of your realtor to your advantage to make the best decision when trying to find a home. This is a major purchase and one that should be considered carefully, as the investment can last a lifetime!