Real Estate Agent in East York - Better Homes And Gardens Real Estate

How to Get the Most of an Open House Visit?

19 April 2018
Kevin Hartley

Copyright : olivierl 123RF.comHow to Get the Most of an Open House Visit?
Without any doubt, open house visits provide people with a good chance to get familiar with the real estate that they find attractive. At the same time, it gives prospective buyers an opportunity to get in touch with the realtor. All in all, this is a visit that can help you cleat all your dilemmas. In order to get the most of an open house visit, you should ask adequate questions. The following are some of the most useful questions to ask in a situation like this.

Is there a particular reason why the seller is selling their house right now?
In case you ask the realtor about the reason behind this sale, you may be able to get useful info that can help you in the bidding process. It’s one thing if the owners are moving just because they felt bored in their old home and it’s another thing if they are facing foreclosure. If they are downsizing (or upsizing), or moving out of town because of a job transfer, there may be a nesecity or urgency to and close and potentially be more flexoible on terms, price or inclusions.

Are there any other interested buyers?
Typically, you will not be the only person talking with the seller or their agent. This means that you have to compete against other interested buyers. Find out how many potential buyers are there and who they are. It would be perfect if you can find more information about their offers, but that's not likely. What you do want to find out is what is important to the seller; is it price alone? Terms? The deposit? Closing date? It's rare, but I've certainly seen a lower price be accepted becasue the buyer was able to be flexible with their closing date.

You, or more approprtialy your agent, will want to find out when, where and how mutiple offers will be handled. If you are truly interested in not missing out, then make sure your interest is expressed by your agent, and clearly stated to the selling agent. Ask foro your agent to be kept informed of any incoming offers or changes to the plan to review multiple offers. If the timing for the review of offers conflicts with a scheduled event, do what you can to clear your schedule and be available to the offer process...if the house is importrant to you.

Does the house come with furniture and appliances?
In most cases, but not all, the sellers are selling their properties with basic appliances like dishwashers, stoves, fridges, washers and dryers. In case you don’t own items like this, it’s a smart idea to ask whether the seller includes these appliances and some pieces of furniture in the final price.

It's always worth asking about other items that may or may not be included. Your willingness to "buy" an item may actually be helping a seller who is downsizing or who otherwise dosen't know how to (or want to, or have time to) move or dispose of items like book cases, a  table, a piano, a riding lawn mower, a snow blower, portable hot tub, dining tables and chairs etc.  

Buying a home is a very important thing, and that’s why you should do your best to learn more about the home you like before you buy it. The open house gives you a good chance to find out more about these homes. If you want to learn more about real estate open house visits in this area, feel free to call me or send an email.

Thanks for reading. Questions or ideas for a future blog? Feel free to contact me here.

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Kevin Hartley, Broker is a Toronto based real estate Broker with Better Homes & Gardens Real Estate | Signature Service, Brokerage. @Home is his lifestyle blog, an expression of his passion for home keeping though MAKING (Recipes), DOING (DIY), BEING (Health/Wellness) and DWELLING (Home Ownership, Sales & Maintenance).  Content not intended to solicit clients under contract.

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