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Expect these four questions at your open house


NEW YORK – Aug. 8, 2017 – In addition to discussing a home's layout and physical characteristics, Realtors hosting an open house should be prepared to respond to other common questions. Coldwell Banker recently featured some of the ones potential buyers may ask a real estate professional at an open house:

  1. How many bids have you received on the home?
    Buyers may want to gauge the true price of the home, and, if interested, they might want to size up the competition.
  2. Why is the seller moving?
    A real estate professional isn't required to share this information, but it can be another clue the buyer uses to determine how motivated a seller is. If the owner is selling because of a job relocation, for example, a potential buyer may consider that an indication that he prefers a quick sale.
  3. Are there additional homeownership costs?
    Agents should be ready to talk about additional costs, such as homeowner association (HOA) fees if the property is located in a planned community. If so, make a list of the amount a buyer would have to pay for association dues, additional taxes and any other fees.
  4. Are there any special regulations with the home?
    Be able to talk about any regulations the HOA may have that affect living in the property, such as pets, parking or remodeling limitations.

Source: "Questions a Buyer May Ask at an Open House," Coldwell Banker Blue Matter blog (July 13, 2017)

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Related Topics: Buyer services