Sometimes you're out driving around and come across an Open House sign... That's great! Here are 6 questions that can provide some great insight as to the sellers motivation and the condition of the home (Plus Bonus questions for a Strata Property ie. Townhouse or Condo)
Don't forget when you're visiting an open house to inform the Listing Agent the name of the Realtor that you're working with ♀️
1️⃣ When was the Roof, Plumbing, Electrical & Hot Water last done? These are some big ticket maintenance items that you'll want to know the condition of.
2️⃣ Is there a Property Disclosure Statement available? This explains the history of the home to the best of the Sellers knowledge.
3️⃣ Have the Sellers purchased a new home already? If they have it will likely mean they're highly motivated to sell their home. Also, they may have a specific timeframe that they're are hoping to have their home sold by.
4️⃣ Do the Sellers have fixed dates in mind? If so, what are they and will they work with the dates that you have?
5️⃣ Have the had any offers on the property? If so, what happened? Did they get accepted and the conditions weren't met, or were they too far apart in negotiations?
6️⃣ How long has the property been on the market? If it's a brand new listing in a hot market prepare yourself for a multiple offer situation. If the listing is stagnant you may want to ask why it has not sold yet if the market is hot.
BONUS 2 Strata Property Questions
1️⃣ Is there a Depreciation Report? This is an independent 3rd party that evaluates the condition of the Common Property and Assets. This is a great tool for Strata’s to plan their budget around replacement and repair costs well into the future.
2️⃣ Are there any Special Levies coming up? This is money paid by the Seller to cover any maintenance or upgrade cost for the Strata
If you have any questions, please get in touch with me
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