Buying a home is one of the most significant and exciting purchases you'll ever make. However, it can also be a complex and overwhelming process, especially if you're a first-time homebuyer. From hiring an agent to finding the right property and closing the deal, there are many steps involved, and many may not know where to start. To help you feel more confident and well-equipped to tackle this process, we've put together a list of the ten essential questions to ask when buying a house.
WHEN LOOKING FOR AN AGENT:
When looking for an agent to help you find your new home, here are a few questions you should ask before selecting one. Finding the right agent is an essential part of the home buying process and, in doing so, you may find that they are able to address all of your concerns before you even have to voice them.
1. In what locations around town do you specialize?
Determining if an agent works, lives, and plays in the areas you’re interested in is an important first step. An agent that is knowledgeable about the areas you would like to move to will help make the process that much easier, as they can provide area references and detailed information about specific places, such as neighborhoods and schools, or a nice dinner recommendation.
2. How will we stay in contact during this process, and how often?
Aligning on communication style, frequency, and expectations upfront is important. Some follow-up questions you may want to ask are “How many clients do you normally have?” and “What does your general availability look like?”
3. How will you determine what homes may match my wants and needs?
Asking an agent that you’re interviewing how they will determine and track your wants and needs is important to ensure they are finding the right homes to share with you. Wants and needs may also change over time, which is something your agent should take into consideration and adapt to throughout the process.
WHEN LOOKING FOR A HOME:
Once you’ve found your agent and determined your wants and needs, this is when you will begin looking at homes. Below is a list of important questions to ask your agent when seeing any potential homes:
4. What is the history of this house?
One of the first things we recommend learning about a home is its history. How old the home is, how many owners it's had, and how long it’s been on the market are good starting points, but certainly not exhaustive. Understanding the history of a home also allows you to potentially have a better understanding of the property and may provide insight into its condition.
5. Do you see any potential issues or red flags?
Many first-time home buyers are not trained to see potential problems with a home, but a REALTOR® certainly is. By asking your agent about potential issues or red flags in a home, you can make a more informed decision about whether the property is right for you and ensure that you are aware of any potential problems before you make an offer. This can help you avoid costly surprises down the road and help alleviate some stress and anxiety.
6. Is there an HOA? If so, what does it cost and what does it cover?
If the home is part of a homeowners association (HOA), you’ll want to know about any fees and dues that will come along with it, and what they cover. For example, do the HOA dues cover the cost of lawn care or water? Are there any amenities that the HOA dues pay for, such as a community pool? Additionally, you’ll also want to know about any HOA rules and restrictions that may impact a homeowner's lifestyle or ability to make changes to the home.
7. Is this house priced fairly?
Before making an offer, it's very important to ask your agent if the home is priced fairly. Your agent should be able to easily provide you with an understanding of fair pricing and what a fair offer will be. Typically, this involves the agent researching comparable homes on the market, recent sales, and taking into account the property’s condition, location, and other variables. Doing so allows your agent to help you determine a fair offer on the home, whether it be below, at, or even above the listing price, or decide to keep looking for something else.
WHEN YOU FIND A HOME YOU LIKE:
8. What does the timeline look like if we want to make an offer?
You’ve found a home and are ready to make an offer, but now what? Asking your agent what the timeline should look like if your offer is accepted is a good starting point. Sometimes the sellers may have contingencies, such as occupying the home for a certain amount of time, or there may be a specified timeframe to close. Understanding this will allow you to plan the next steps, or potentially pass on a home if the timeline isn't what you may need.
9. What should the purchase and sale agreement say?
Asking what the purchase and sale agreement should say can help you ensure that all the important details are included in the document, such as the purchase price, the closing date, and any contingencies or conditions that must be met before the sale can be completed.
Additionally, the agreement may include provisions related to the inspection process, transfer of ownership, and any warranties or guarantees that may be provided by the seller. In doing so, you can ensure that all of these important details are addressed and that your interests are protected throughout the sale process.
10. What should I bring to the closing?
Congratulations! You’ve made an offer, it's been accepted, and the home is about to be yours! Before getting to the closing table though, it’s important to ask your agent about everything you will need to bring to the closing to ensure the transaction goes smoothly.
Remember, buying a home is a big decision, and it's important to take your time and consider all the factors before making an offer. By asking the right questions and doing your research, you can feel confident that you are making the right decision for yourself and your family. Remember, this is not an exhaustive list and your Helen Adams agent is there to guide you along the way. If you need help finding a Helen Adams Realty agent, give us a call or fill out this form and you’ll be matched with an agent that fits your needs!