3 Things Every Home Buyer Should Ask Their REALTOR®

Louisiana REALTORS • May 2, 2019

When it comes to buying a home you’ll have a lot of questions.  How many bedrooms?  How’s the commute?  Are the schools good? They go on and one, and they should, buying a house is a big commitment that takes a big decision.  Luckily you have a REALTOR® to help you find the answers to these questions and make the best decision for you and your family.  However, there are a few questions that may not be on your list, but should be.  Here are three questions every homebuyer should ask their REALTOR®.

What is the sales history of the home?

Understanding the price and value of a home is a key trait of any real estate professional.  If a home has struggled to sell and remained on the market, you could make a competitive offer and walk away with a nice deal.  If home prices in that area have consistently increased over the years, you could be in store for a sound investment. 

Which Concessions are reasonable and worth requesting?  Which aren’t?

Of course, we each have our own tastes and preferences when it comes to style and other amenities.  However, knowing when to push for something and when to let it go can save you a lot of time and money in the home buying process.  Working with a REALTOR®, that has a thorough understanding of your best interest can guide you in deciding on what you should and shouldn’t demand from the seller.

What’s Going on in the Area?

Your REALTOR® should be knowledgeable and professional  about your prospective new neighborhood.  A big part of this is being aware of any upcoming HOA assessments.  These assessments will influence your monthly expenses, so knowing what to expect can be a big help.  It’s also important to know about any new amenities that are in the works like nearby retail, parks, pools, infrastructure and more.  Understanding what’s going on, and what is expected to occur in your new neck of the woods is very important.

 

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NAR is pleased to share the latest consumer guide about contract contingencies and clauses that buyers and sellers may encounter in a real estate transaction. The guide defines common contingencies and clauses and helps consumers understand what happens if the terms aren’t fulfilled. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow up to two weeks for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Real Estate Contract Contingencies Understanding Condo Ownership How to Protect Against Real Estate Wire Fraud 5 Home Selling Tips for Privacy and Safety Do You Need Private Mortgage Insurance? What Is the VA Home Loan Guaranty? Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for the next consumer guide, which focuses on working with a remodeling contractor.
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