Buying a house is a big commitment. As an investment that can last for years, it is important to be equipped with the knowledge to make the right decision.
Even with the help of a real estate agent, you want to make sure you are doing your due diligence by asking the right questions. Your relationship with your real estate agent can make the process of buying a home go smoothly as long as they ensure your needs are met.
Follow along for the top 10 questions to ask your realtor when buying a house, before hiring and while working with them.
Questions to Ask Before You Hire Your Realtor When Buying
As the buyer, you can benefit from knowing your real estate agent’s level of experience and how well they know the area. Here are some questions to ask your realtor when buying to ensure they are credible.
1. What is your experience selling in this area?
Your real estate agent should be knowledgeable of the areas you are looking at. Houses in communities can differ so it is important for your agent to know the differences and where to look for what you want.
2. Do you have any references I can call?
When trying a new restaurant you are most likely going to look at reviews first. Just like any other service, you want to make sure your real estate agent can provide you with a list of satisfied customers.
3. Do you work with buyers and sellers?
A real estate agent that just works with buyers can be great because they specialize in the area. However a real estate agent who has experience working with both the buyer and seller can have some valuable insights on each side.
4. Are you working full time as an agent?
You want to make sure that you aren’t their side hustle because full time agents will have more time and attention to devote to you.
Questions to Ask While Working With Your Realtor When Buying
The process is just getting started once you choose your real estate agent. You may feel uncertain and will need a few things clarified during the process. Here are some helpful questions for you to ask your realtor when buying!
5. Do you have any concerns with this property?
Your real estate agent can pick up on problems with the home that you may not notice. This question is good to ask your real estate agent to see if there are any red flags with the home.
6. How should I handle unforeseen problems with inspections?
It can be disappointing finding problems after the inspection such as mold or termites. You should talk to your real estate agent about how to handle these problems. Usually something can be worked between the buyer and seller where the seller pays for issues discovered during the inspection in the form of repairs or concessions.
7. May I see a CMA for the home?
A comparative market analysis (CMA), is an estimate of the home’s value based on about ten similar, recently sold properties in the surrounding area. This can help you determine if the home is reasonably priced for the market.
8. Is there any sale history of the home that could affect my offer?
You should ask your real estate agent about the property’s sales history before making an offer. If there are factors that imply difficulties in selling the property, you may be able to strike a bargain.
9. Are there upcoming HOA assessments?
If you are purchasing a home within the Home Owners Association (HOA), you will receive financial documents. These documents and disclosures can be hundreds of pages. It is easy for buyers to get overwhelmed when there is an upcoming assessment.
The assessments are periodic payments made to the HOA that cover repairs. You should speak to your real estate agent about HOA assessments because it will affect your housing expenses. Your real estate agent can help you understand the details of the documents and answer your questions. You should also ask if they foresee the expenses to rise.
10. Can you recommend any real estate attorneys, inspectors, mortgage brokers, escrow agents?
Your real estate agent should know other local professionals that are involved in real estate transactions. Since you have done your research to find a reputable real estate agent, it is likely that they can recommend quality professionals to help you in other aspects of the transaction, such as New Venture Escrow for the escrow closing process.
Learn More With New Venture Escrow
If you want to learn more about the home buying process New Venture Escrow is here for you. Our team can help you with your escrow needs and are committed to creating a transparent and convenient escrow process for our clients. Get started by contacting us at New Venture Escrow!