Buying a home in San Antonio? Don't waste the opportunity to ask these 7 questions at the next open house! The answers may be more important than you think...
All too often, open houses bring up more questions than answers. So the home looks wonderful, but what are the hidden details? What's the catch? Don't leave your next open house without asking these crucial questions!
1. Are there any active offers on the home? If so, how many?
Even if the answer is "Yes!", the game's not over yet. Until a seller has actually accepted any pending offers, there's still time to act! This question will help give you a clear picture of how fast you should make a decision, how much you should offer, and how popular the area is with other buyers.
2. How long has the property been on the market?
Was the property just listed or have fifteen offers have fallen through? Is it a hot new commodity or does it have an expiring shelf life? This question will help you gain a bit more insight on pricing fluctuations (and where you can find room for negotiation).
3. What was the original listing price?
Whether the price has remained constant or fluctuated, this question gives you a little more of an insight on the property and the competition of the market. This Information might even clue you in that the list price is somewhat flexible before you make an offer.
4. How does the price compare with surrounding homes on the market?
This is crucial! If the listing's price is significantly higher than other houses nearby, the seller may have unrealistic expectations. However, if the price is much lower, that also calls for additional information that needs to be obtained...what's the catch?
5. What appliances and features come with the house?
While most homes come with standard amenities (i.e. oven, microwave, fridge, washer, and dryer), some do not afford buyers this luxury. You'll want to make sure you ask the agent at the open house exactly what is included with the home. Don't walk into your new house and find it lacking!
6. What renovations have been made to the property (and when)?
Besides revealing how updated the home is, this question lets you know of any major issues that required renovations. Alternately, if the home is lacking some important renovations, be sure to factor those costs into your offer price. We suggest you ask for a disclosure statement from the seller: this will tell you about any issue the seller is aware of, including any issues or damages revealed by a prior property inspection. This statement will also show how old the property is, how long the seller occupied the home, and other useful information.
7. What is the San Antonio neighborhood like?
What amenities are included? Is there a community pool? What are the neighbors like? How's the traffic? What cultural attractions and restaurants are nearby? How are the schools? The answers to these questions are perhaps more important than the home itself! Choosing the right San Antonio neighborhood is crucial in your home search. From Alamo Ranch to Stone Oak to Tobin Hill, each community appeals to a different type of buyer. Explore San Antonio neighborhoods here, or ask an agent which they think will work for you and your lifestyle!
As a group of specialized agents obsessed with our beautiful city, we’d love to show you the ins and outs of San Antonio. Contact an expert agent and connect with a lender to see what you can afford! Plus, we’ll hook you up with our exclusive Buyer’s Guide (with important insights and tips specific to San Antonio). We’d love to answer any questions and show you around our one-of-a-kind city.