According to a recent study, about 40% of Americans say that purchasing a home is the most stressful thing they’ll ever have to do. From finding the right home to waiting on a seller to accept an offer, people get stressed out while trying to buy a home for all kinds of reasons.
One of the ways to reduce some of the stress you’ll feel when you’re in the process of attempting to purchase a house is by figuring out the right questions to ask a realtor when buying a home. It’s important for you to know what questions to ask a realtor right from the start so that you’re able to eliminate a little bit of the stress from the equation.
So, what are the best questions to ask your realtor as you seek to buy a house? There are a handful of good ones that you should have ready to go.
Here are five questions to ask a realtor before buying a house.
1. Is a Home Situated in an Ideal Location?
You’re probably well aware of the age-old “location, location, location” adage that is so often quoted in real estate circles. But it’s not always easy to tell whether or not a home is in the best location, especially if you’re buying a house in a city that you’ve never lived in before.
With this in mind, you shouldn’t be afraid to make this question one of the top questions to ask a realtor when buying a house. You should make sure that a home is in a great location prior to purchasing it.
Whether or not you have kids, you should always search for a home that is located in a great school district. It’s going to go a long way when it comes to generating interest in your home and getting top dollar for it when you go to sell it at a later date.
You should also always look for a home that’s situated in a spot that has plenty of hospitals, grocery stores, and other amenities located nearby. It’s going to help the value of your home stay steady and improve over time.
You can find out all the specifics regarding a home when you conduct a search on a site like StewartRealtyLLC.com. But you’ll need your realtor to break down its location and tell you if it’s good or not.
2. How Hot or Cold Is the Real Estate Market Surrounding a Home?
In addition to asking your realtor questions about the location of a home before you even think about buying it, you should also make it a point to ask them what the local real estate market is like right now. Is it:
- Hotter than it’s ever been before?
- Colder than it was a few months ago?
- Looking like it’s trending in the right direction and on its way to being red-hot in a few years?
In a perfect world, you want to buy a home that’s in a real estate market that is on the verge of being hot but not quite there yet. It’ll help you get a great deal on a home that could be worth a whole lot more money in the near future.
3. Is the Asking Price for a Home Fair?
Most home sellers will list their home for more than it’s actually worth at first if they’re not in a huge rush to sell it. They’ll do their best to try and squeeze every dollar they can out of it, especially if it’s in a hot market.
Your goal when purchasing a home should be to avoid overpaying for it just because of the market that it’s in. You want to find a house that has a fair asking price attached to it.
Of all the questions to ask a realtor when buying a house, this one might just be the most important. It’s essential for you to find a home with an asking price that is more than fair based on the current state of the local real estate market.
4. How Long Has a Home Been Sitting on the Market?
If a home just hit the open market yesterday, it could hurt your chances of enjoying any success at the negotiating table if you’re interested in buying it. Most sellers aren’t going to budge on the price of their home much when it hasn’t had much time to generate interest from buyers.
If, on the other hand, a home has been on the market for six months now and hasn’t sold, you should be able to get a leg up on a buyer at the negotiating table if you make the decision to try and buy it. You’ll be able to lean hard on the fact that a seller hasn’t been able to find another buyer for months on end, which will work in your favor.
Your real estate agent should be able to track down how much time a home has been sitting on the market. It’ll be important to know this before you begin trying to negotiate the price of a home.
5. Does a Home Have Any Offers on It?
Just because a home has a “For Sale” sign sitting in its front yard doesn’t mean that there aren’t a bunch of people trying to swoop in and buy it right now. For all you know, a house that you’ve fallen in love with could have multiple offers on it already.
Some sellers won’t reveal if they have anyone interested in buying their home from them if your real estate agent inquires. But others will be more than happy to tell you that there have been some offers that other buyers have made for their house.
This will show you that you need to act quickly and bring your strongest offer to the table sooner than later. It’s why this is one of the best questions to ask a realtor when buying a house.
Know the Right Questions to Ask a Realtor When Buying a Home
There really isn’t any way to eliminate all the stress associated with buying a house. But by learning about the right questions to ask a realtor when buying a home, you can make at least some of the stress that you feel go away.
Make sure you bring up the questions found here when speaking with your realtor about a house you want to buy. They should be prepared to provide you with good answers to each and every one of them.
Read the rest of the articles on our blog for more tips on buying and selling homes.