Buying a home, especially making an offer and negotiating, is often like playing poker where the stakes are high. There’s psychological maneuvering involved as well as learning about other players to get ahead of them in this game. The more you know about the people around you – from sellers to neighborhoods-the better chance your purchase will pay off for years down the road. That’s why it is important to ask your agent these 5 questions when viewing a home in Overland Park.
1. Why Is the Owner Selling?
The first of the crucial questions to ask your agent when viewing a home in Overland Park concerns the reason the owner wants to sell. If the owner is selling because he took a new job in another town, then everything’s good. But if it’s because the foundation is cracking and he doesn’t want the huge repair expense, that’s another matter entirely. Also, if you find that the seller’s reason for selling means that he has limited time to sell, then you may be able to negotiate a lower price. Knowing the reason for selling will help you avoid a costly mistake and determine whether the home is a good fit for you.
2. How Long Has the Home Been on the Market?
Questions to ask your agent before you buy a home also include finding out how long the house has been on the market. For if it’s sat there for more than three months, that could be a huge red flag – or it might work in your favour. When homes sit around unsold for too long, they often mean there is something wrong with them – but this can also mean that sellers have been asking too much and may now be desperate to sell- which means an even lower price!
3. How Often Has the Home Been Sold?
There are a number of reasons why homes stay on the market for an extended period. One possibility is that there might be major issues with your home, and it can take years to find them! So talk to your agent about how long this house has been up for sale in order make sure you’re getting all the information before committing yourself.
4. What Is the State of the Market in the Neighborhood?
This is definitely one of the critical questions to ask your agent when viewing a home in Overland Park. The answer can mean the difference between the home’s being a good investment or a money loser. You absolutely must consult your agent to find out whether homes in the neighborhood are and are likely to continue appreciating over time or whether the neighborhood is in decline and homes there decreasing in desirability.
5. How Much Do Taxes and Utility Bills Run?
When viewing a home, have your agent ask you about more run-of-the mill matters like property taxes and utility bills. We may not be able to afford the mortgage payment if those turn out higher than we expected! Finding this information early can help us figure out whether we are actually able to afford the mortgage.
The Best Way to Get the Best Answers
These questions to ask your agent when viewing a home in Overland Park will help you make good, informed purchasing decisions. But, still, for the questions to do you any good, you have to get good answers based on sound data from a knowledgeable local real estate agent. Your financial future may depend on it.