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Buying a House? Here's What to Ask Your Realtor

Buying a House? Here's What to Ask Your Realtor

sign Buying a house is a huge commitment, for most people when they start the process, they do a lot of research, and what best research is there than asking an expert. Engaging the services of a real estate agent would make the buying process a lot easier. Here are things that you can ask your real estate agent, both before and while working with them, that would get you the best value from what you would be paying your real estate agent.  

Before Hiring a Real Estate Agent

  • 1. What are your experiences working in the area?
Having a realtor that is familiar with the neighborhood that you are looking to buy in would come with a lot of perks, especially if you are relocating. Your real estate agent can give insights on what the area is like and recommend great establishments like schools, groceries, and restaurants.   2. Do you have referrals and recommendations for third-party services? In the buying process, depending from state to state, you would need a lot of third-party services like lenders, appraisers, inspectors, contractors, and real estate lawyers to name a few. For established real estate agents, they would usually already have someone that they partner with. This would lessen the hassle of having to find and vet these people.   3. What are your fees? Similar to any other contract and agreement you enter into, it’s best to clearly define how much are the fees of your real estate agent. Having that discussion at the onset about fees breakdown and inclusions would allow for easier conversations as you talk about property prices.   4. Do you have references from previous clients? Most real estate agents would have online pages and websites that would showcase testimonials from people they have worked with, or you directly ask the real estate agent for references of homeowners they’ve worked with. This would give you an inkling of how the real estate agent works and deliver their services. You can also ask the real estate agent directly for references.   In the Buying Process
  • 1. Why Is The Property Being Sold?
This is one of the most important things that all prospective buyers should ask. You have to know the motivation of the seller on why they are selling the property as this would uncover if you yourself should even be considering buying it. If the seller is looking to sell due to downsizing or relocating to a new area the sales will be okay. This is also where seller disclosures also come into play. By its name, sellers should disclose details about the property. This covers health hazards like asbestos and lead-based paint, crimes, and death in the house, water damage, homeowners association details, and required major repairs.   2. Is this house fairly priced? As real estate professionals, their expertise includes checking if the property you are looking at is fairly priced. Real Estate Agents run a Comparative Market Analysis (CMA) or better known as comps to check if the property is fairly priced. This process involves checking similar properties that have sold in the neighborhood comparing square footage, amenities, and condition.   3. How much do property taxes and utilities cost? Property taxes and utilities would always be part of the expenses of a homeowner Knowing how much this would cost before making an on offer on a property would help you budget and plan out your finances better and even determine if you can really afford the property you are eyeing.   4. Do you have concerns or see red flags about a particular property? In the buying process, you would most likely look at multiple properties and visit a lot of open houses. It’s always valuable to ask your real estate agents about concerns and red flags they see about the property. An experienced real estate professionals would be able to see problems with a home that a buyer may not catch. Final Thoughts Whether you are a first-time homebuyer or buying your nth home, there will always be value in leveraging on the knowledge of a real estate agent as you through the buying process. It is important to engage the services of a real estate professional that you are comfortable with and someone whose judgment you trust with after all you’ll be working with them in finding you your dream home.