5 Questions to Ask your Real Estate Agent Before Making an Offer

Posted on by Smith Marketing

You’ve been looking at luxury homes in Greensboro for a while now and finally, you’ve found the right one: the house you can see yourself in for the foreseeable future. Now what? You want to make an offer, but you’re not sure how to go about it. You don’t want to make the wrong decision and you don’t want to offer too much or too little. This uncertainty is just one of the reasons it’s a good idea to work with a real estate agent during the home buying process. Your agent is there to help walk you through this process. Here are 5 questions you should ask your real estate agent before making an offer on a home.

  1. What price have comparable homes sold for in the same neighborhood? This is a good starting point when it comes to deciding what amount to offer. Don’t just base your offer on the asking price or you may end up paying more than you should. Your real estate agent should have access to this information to help you make an informed decision.
  2. What contingencies should be included in the offer? Contingencies refer to the stipulations or conditions your offer is based upon. You can make an offer contingent on the sale of your current home. You can make an offer that is contingent upon specific repairs or painting. Talk to your agent about your options for contingencies.
  3. How long has the home been on the market? This is important for a variety of reasons. If a home has been on the market a long time, it can raise a red flag with buyers. Ask your real estate agent how long the home has been on the market and why. Your agent may know or be able to find out. You want to make sure there is nothing wrong with the home, like structural issues or a bad location (such as sitting in the path of a future freeway plan).
  4. What updates have been done on the home? The most expensive home repairs are roof replacement and HVAC (heating, ventilation, and air conditioning) system replacement. Before making an offer, find out how old the roof is and what condition it is in, as well as the HVAC unit. Ask about the age of other appliances that will be staying in the home such as the range, dishwasher, microwave, and refrigerator.
  5. What are the average utility costs for the home? The answer to this question is very valuable information. What is a typical monthly energy bill for the home? If it is unusually high, find out why. It could be that there is an electrical or other hidden issue in the home. You can also find out if the heat is natural gas, propane, or oil.

Find Luxury Homes in Greensboro through Smith Marketing and Allen Tate Realtors®

If you’re looking for new homes, working with a real estate agent is extremely helpful. Your agent will have information about homes that you may not be able to find out on your own. Before you make an offer on a home, ask your real estate agent these important questions and any others you have in mind. Call Smith Marketing and Allen Tate Realtors®: (336) 215-7880.