Do you know what to ask your realtor before buying a home or condo? Many buyers focus only on price or location, but the most thoughtful questions dig deeper, revealing details about the property, neighborhood, and hidden costs.
Asking the right questions protects your investment and gives you confidence in your purchase decision.
Here are the 10 most important questions to ask your realtor with extended insights and examples to help you make the best choice.
1. How Long Has This Property Been on the Market?
If a property has been sitting unsold for months, it may signal problems, such as poor condition, overpricing, or a lack of demand in the neighborhood.
- Why Ask? A more extended listing period could give you leverage in negotiations.
- Example: If a home has been listed for 120 days, you might negotiate a lower price or request closing cost credits.
2. What’s the neighborhood like?
Buying a home isn’t just about four walls; it’s about lifestyle. Realtors can provide insider knowledge that online searches may not reveal.
- Ask About: school districts, commute times, crime rates, walkability, and local dining/shopping.
- Pro Tip: Visit the Neighborhood at different times of the day to get a true sense of noise, traffic, and activity.
3. Are There Any Known Issues With the Home?
No property is perfect. Asking directly can uncover issues you should be aware of before inspections.
- Examples of Red Flags: roof age, foundation cracks, water damage, and old wiring.
- Follow-Up: Always schedule a licensed home inspection; it’s worth every penny.
4. What’s the Home’s True Market Value?
Your realtor can prepare a Comparative Market Analysis (CMA) comparing the home to recent sales.
- Why Ask? This prevents overpaying and ensures your offer is competitive.
- Example: If similar homes sold for $500,000 and the asking price is $550,000, your realtor can advise a fair offer.
5. What Is the Seller’s Motivation?
Motivated sellers are more flexible. Someone relocating for work or downsizing quickly may accept concessions.
- Why Ask? Knowing their timeline helps you strategize.
- Example: A seller moving out of state in 30 days might prefer a lower offer with a fast close.
6. How Competitive Is This Market Right Now?
Real estate markets shift constantly. You may need to offer quickly and at full price in a seller’s market. In a buyer’s market, you can negotiate more aggressively.
- Why Ask? Market dynamics affect your strategy and stress level.
- Pro Tip: Ask your realtor for local absorption rates (homes sold vs. homes listed).
7. What Are the Total Costs of Ownership?
Many buyers only focus on the mortgage, but ongoing costs can add up.
- Ask About: HOA fees, property taxes, insurance, utilities, and maintenance.
- Example: A $450,000 condo may seem affordable until you realize HOA fees are $800/month.
8. Does This Home Have Good Resale Potential?
Life changes include job relocations, family growth, and retirement. Even if this feels like your forever home, you should buy with resale in mind.
- Ask Your Realtor: What features make this home easier to resell in the future?
- Pro Tip: Homes near schools, beaches, or downtown typically hold more substantial resale value.
9. How Flexible Is the Seller on Price and Terms?
Price is negotiable, as are terms like closing date, repairs, and included appliances.
- Why Ask? Understanding seller flexibility helps you craft a stronger offer.
- Example: You might offer full price but ask the seller to cover repairs or closing costs.
10. What Should My Next Steps Be if I Want to Move Forward?
This question sets expectations. Your realtor should guide you through:
- Writing an offer
- Negotiating terms
- Scheduling inspections
- Finalizing financing
- Closing smoothly
- Why Ask? Clear steps reduce stress and avoid surprises.
Extra Buyer Questions Worth Asking
- Are there zoning restrictions that could affect future renovations?
- How quickly are homes selling in this area?
- What contingencies should I include in my offer?
Final Thoughts
The key to a smooth home-buying experience isn’t just finding the right property; it’s asking the right questions. A skilled realtor should be able to answer these confidently, guiding you toward the best decision for your lifestyle and finances.
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