Along with asking if your Realtor sees any problems, you should ask whether they would purchase the house. Your real estate agent knows which homes are a good buy — and which aren’t. If your Realtor wouldn’t buy the house, that’s a sign that it might not be a good investment. And, that you should rethink your purchase.
- 1 What questions should you ask before buying a house?
- 2 What questions should I ask a realtor when touring a house?
- 3 How many times should you look at a house before buying?
- 4 What is an acceptable offer on a house?
- 5 What are closing costs on a house?
- 6 What is the best way to negotiate buying a house?
- 7 What to ask sellers at closing?
- 8 What should you not do before buying a house?
- 9 What should a first time home buyer know?
- 10 Is it OK to buy the first house you look at?
- 11 Is offering 15 below asking price too low?
- 12 Can I offer 20k less on a house?
- 13 What should I not tell a real estate agent?
What questions should you ask before buying a house?
15 best questions to ask when buying a house
- What’s my total budget?
- Is the home in a flood zone or prone to other natural disasters?
- Why is the seller leaving?
- What’s included in the sale?
- Were there any additions or major renovations?
- How old is the roof?
- How old are the appliances and major systems?
What questions should I ask a realtor when touring a house?
Questions to ask after the home tour:
- Can I have a copy of the Seller’s Property Disclosure?
- How many offers have been made, and when are offers due?
- Has the seller provided an inspection?
- What is the home’s repair and renovation history?
- What did you like about the home?
- Are any repairs currently needed?
How many times should you look at a house before buying?
How many times to look at a house before buying? Ideally, four to six viewings should be sufficient. Attending two to three visits inside, with a realtor and/or appraiser, and another two to three visits scouting the house and neighborhood independently, from the outside, may be a good approach.
What is an acceptable offer on a house?
As with all negotiations, start low. A good rule of thumb though is to offer 5% to 10% lower than the asking price. Don’t forget that sellers often take this into account and deliberately put their house on the market for more than they expect or would accept.
What are closing costs on a house?
Closing costs are fees and expenses you pay when you close on your house, beyond the down payment. These costs can run 3 to 5 percent of the loan amount and may include title insurance, attorney fees, appraisals, taxes and more.
What is the best way to negotiate buying a house?
Tips For Negotiating A House Purchase
- Be Sure To Get An Inspection. Inspection results can be the key to negotiating a home’s final selling price.
- Always Communicate Through Your Agent.
- Ask For Closing Costs.
- Find Out Why The Seller Is Moving.
- Get Personal.
- Don’t Be Afraid To Walk Away.
What to ask sellers at closing?
6 Questions to Ask Your Home’s Seller Before Moving In
- What’s the history of the house?
- Where to go and who to know?
- What surprised them when they moved in?
- Where is it and how does it work?
- Is there anything you’d like to leave?
- What did I forget to ask?
What should you not do before buying a house?
Recap: What not to do before buying a house
- Take out a car loan or finance other big items.
- Max out your credit cards.
- Quit or change jobs to a new field.
- Assume you need 20% down.
- Go house hunting before getting pre-approved.
- Use the first mortgage lender you talk to.
- Make big financial changes prior to closing.
What should a first time home buyer know?
Preparing to buy tips
- Start saving early.
- Decide how much home you can afford.
- Check and strengthen your credit.
- Explore mortgage options.
- Research first-time home buyer assistance programs.
- Compare mortgage rates and fees.
- Get a preapproval letter.
- Choose a real estate agent carefully.
Is it OK to buy the first house you look at?
There’s nothing wrong with bidding on the first house that you see. However, plan to visit the property at least twice before submitting your offer. If a seller is motivated and ready to sell, he or she may rush the process or try to force you to make a hasty decision.
Is offering 15 below asking price too low?
However, an offer of 15% lower may be considered a cheeky offer, but it isn’t so cheeky the seller will think you’re being disrespectful. This shows the seller is up for negotiation on the asking price, meaning an offer of 15% below asking price may not actually as cheeky as you think.
Can I offer 20k less on a house?
You can offer whatever price you want. Whether or not they accept that offer depends on the motivations of the seller. Offer less then 20k less and try to negotiate to that number.
What should I not tell a real estate agent?
Ross says there are three things you never need to disclose with your real estate agent:
- Your income. “Agents only need to know how much you are qualified to borrow.
- How much you have in the bank. “This is for your lender to know, not your real estate agent,” he adds.
- Your personal and professional relationships.