Open houses are great! Especially for Hawaii real estate. Attending an open house will give you great insight into what's available in your price range and how the Hawaii real estate market is shaping up.
But, knowing what to ask can appear to be difficult, so I've put together a set of good and insightful questions to ask at the next open house you attend.
Why is the seller selling now?
Asking the listing agent why the seller is moving could give you valuable information to determine how anxious the seller is to sell. This will help you with your bid. Maybe the owners are trying to hold off foreclosure or they are going through a divorce. Perhaps they've paid off their home and they are going to retire somewhere else. It's good to know the urgency of the seller is the bottomline.
Have you had any other offers?
You'll want to know if there are other offers out there. I'd be surprised if the agent was able to disclose the amount of the other offers but they will normally let you know if there are other offers. This is very important information to know if you are bidding on your dream home or are in a must buy now situation.
Does the property have special ownership costs?
Generally this information needs to be disclosed on the MLS but it is always good practice to ask. You might want to say, I see the HOA fees, are there any other costs associated with home ownership in this neighborhood. It's better to get as many surprises out of the way well before closing because nobody wants surprises after closing.
What conveys with the home?
Most of the time, a seller will include their major appliances such as the refrigerator, stove and dishwasher with the home, but this isn’t always the case. If you don’t already have these items, it’s important to know whether they are included in the purchase price. Normally items that convey are listed somewhere in the listing but it is always a good practice to ask outright. Especially for specialty items like hot tubs, deep freezers, shelving, etc.
Open houses are a great source of information for the buyer. Not only do you get to see the house and neighborhood, you get to meet with the listing agent and ask about some very important issues. Take your agent with you when you go so he or she can help answer further.
Contact me today for any of your real estate concerns. Thank you.