What Does an Open House Really Tell You?

An open house can reveal more to you than what you see with your own two eyes. The key to a successful open house – from the buyer’s perspective – lies in the questions and answers.

Knowing what to ask, or making sure your Realtor knows, will help you make a more educated decision for what is probably the biggest purchase of your life.

Have you had any offers on the property? That lets you know if you have competition for the property, thus helping you craft your best offer if applicable.

Has this house been in escrow? If it has, and didn’t sell, you’d want to know why so you’re not surprised by any obstacles when and if your offer lands in escrow.

Why are the owners selling? Although most agents remain mum on this, any information you can glean can help you decide how much to offer, when to close, etc.

Are there any liens on this property? Unpaid HOAs, tax liens, or other claims on the property should be disclosed before you sign anything.

Will this home meet a lender’s appraisal expectations? Be sure to get 90 days of comparables for an idea of how in line the pricing is with prior sales in the area.

For more about open house questions check out MSN real estate.

ABOUT ME:

I live, work and play in Conejo Valley and specialize in Agoura Hills and Westlake Village real estate.

Where you live is more than a roof over your head. It should improve your quality of life – spiritually, emotionally and psychologically.

In my home and garden articles, you’ll find some great tips on how to make your house, not just a home, but a sanctuary.

Through my blog, I hope you’ll also gain some insight and find tips and resources that will help you navigate through the current market, whether you're buying or selling.

Have any tips to share? Please do so in the comments section or connect with me via: My website, Email, Facebook, Twitter, YouTube, or LinkedIn

Thanks for reading!