Are you wondering which questions to ask during an open home? Are you finding yourself wanting to make the most out of every open home inspection? Well, you came to the right place. Having the right questions to ask is detrimental in determining if you wish to purchase the property or not. 

Let’s take a gander at the different questions that will help you gain access to essential information about a property. 

1. Why is the property being offered for sale?

The answers to this critical question will help you during your negotiations. This question will allow you to determine if the owners are in a rush in selling the property or are willing to wait for a good deal. You will also be able to discover if the owners want a shorter or longer settlement period. An added bonus if you find out whether you will be able to meet their standards for the deal.

2. Are there any new sales to compare the property with?

You should find out if the property is reasonably priced or not. Make sure to look for a price guide when buying a property. Ask the real estate agent to show you the prices available in the neighborhood and in similar properties. 

3. Is the property getting offers at this moment?

The real estate agent can show you rough estimates about the recent offers that the property is getting. They may also be able to tell you about any offers that were rejected. This will allow you to determine how much you should offer for the property. This question could also show any potential problems the property may have if the agent tells you that the property has not garnered any offers.

4. How long has the property been on the market?

You can offer a lower deal if the property has been on the market for a long time. The owner will be inclined to accept the offer if the property has not been sold for a long time. Additionally, you can also find out if the property has an issue which is why a lot of people are passing up on buying it. Make sure to have good research to determine whether the house being on the market for months is a good deal or a bad one.

5. Does the property have any known problems?

Make sure to ask this question even if you have not seen any issues with the property. The real estate agent will be able to tell you any problems with the property. They won’t be hiding any problems from you if there are any; even if it affects your decision on buying the house.

We advise you to talk to a broker in order to make the best decisions in buying a property.