What are some questions a first time home buyer should ask thier realtor?

Answer 1

First of all realize that the agent is working for the SELLER not the buyer.

Now, when you see a home, don't think about how cute a couch would look over there, or how you love the big bath tub etc. Look for flaws. Pick that place apart. Look for cracks in the foundation, or walls, pay close attention to the basement (if it has one). If you smell mildew, see mold, or note watermarks you may be in trouble. FRESH PAINT in a basement is a BAD THING...90% of the time it means they have something to hide from you. Flush toilets, turn the water on in the tub and sinks and let it run for a bit while you stand there so you can note if the water drains well or backs up. You don't want to buy a place with bad drain piping. ALWAYS get an inspector, and NOT one that the agent recommended. Find your own! DO NOT be cheap in finding a good inspector. You'll be sorry later. The foundation of the house is SO important. Ask questions of your inspector. Bowed walls, leaking water, mold etc can be terrible to impossible to fix. BE THERE when the inspector goes through and ASK questions even if you feel the question might be stupid. It's only stupid if you don't ask. Remember to check out the attic if there is one. If the agent gives you an excuse about not having a ladder etc GET a ladder or don't buy. Your attic can tell you a lot about the safety of your home, and problems you might have. Make sure your inspector gets on the roof too.

Answer 2

firtst you need to ask the realtor what are the lastest updates or remodoling that has been done to the property. They are always happy to divulge this information since this is going to be thier selling points. Then always understand that new paint,carpet, dooors etc. mean that the property was done on the behalf of the seller at the realtors request for a quick sale. Physically the house will have street appeal. The woman will always go first to the kitchen area dining area first. The man will want to look at the garage and yard, spriklers etc. Ask the realtor for who did the work and if permits or state liscened contractor did the work. Look at the neighbor hood and the streets, could be a bad one and always find if street repairs or expansions are being planned. Also find out if new developments are in the process of being planned. Get an indepentant(not the realtors) home examination-usually around $200. Do not only ask the realtor about the improvements but one should slip away and look for any quick patches made around the house as well as paint on the concrete. windows or roof. Ask about the air conditioner or the heat. Be patient and DO NOT make a rash decision to buy the first one. Go next door and ask the neighbor's what they know about the previous occupants, they are usually more that happy to divulge any questions like how many children, activities, lifestyes of previous occupants that the realtor does not even know about. Ask about termite issues, if the house has recently been "tented" there is going to be porous wood trussels and beams. The termites maybe dead but the wood is still there that the damage has been made. Look for recent water stains on the ceiling, especially if you notice a slight discoloration. If you are happy about the house ask the realtor if the seller or even the realtor may recuce the cost. This house will be your most valuable investment and you will want to feel comfortable living there. You may not like the carpet or paint or cabinets, so deal with above mentioned about these issues. Realtors must disclose flood plains, toxic sites, death in house, closest water dams, army depots. Check schools if you have children or metro links if you are a commutor. More people are moving because of traffic congestion. If you work from home you will want a quiet place to concentrate. If you fly alot find out where the closest and easiest airport is. Always ask about local sales taxes including water,trash and eledticity. Hope this Help's I could keep going however I assume you are intelligent to come up with other question's to ask the realtor.

Answer 3

I am a Realtor. And I do not think it is fair to take 6% out of the sell. I do think it is fair to give 3% to the agent who brings the buyer though. The listing agent I agree doesn't do much more then you could except dress up and look profesional. Some things they do that can be important though is put your home on your local mls. This allows all other agents, and public, to see that your property is for sell. You can only do this if you belong to your local asociation. If you put your house in the newspaper everyday for the duration it is on the market it will cost you, well a lot of money. Oh they also make sure you are protected from legal actions. Over look contracts and what not. They also evaluate the value of your home so you can get the most money from the sell. To high no one buys, to low you lose money. You can't walk down your street and look how much someone else is selling their home for and price yours the same. Well unless everything is exactly the same.... Year built, condition, paint, landscaping, appliances, and a lot more. So with that 2% for the listing agent is fair to me. Or a set price no matter how much you sell your home for. It is all nogotible between you and your agent. But you can always do a "for sell by owner", making sure that it is an as is sell so you are not responsible later. This means the buyer is responsible for doing all the inspections before signing anything. Remember you get what you pay for. So if you sell your house by yourself. Very good luck to you. Just remember you will not have the help of agents bringing people to show your home. In todays market it helps a lot. If you can find agents willing to take less then 3% that is good. It all depends on what you want them to do for you. Caution: paying 3% doesn't mean you get 3% of work from your agent. If you use an agent do your homework. Maybe ask for some of there past clients and talk with them. And the comment about the hamburger flipper....are you kidding me. If it seems so easy go and get a real estate license and tell me whats easier, your job or mine.

Answer 4

baumacoma,
Things you should consider in buying a home .
This is more things to look for then questions .
.1. is the basement dry,
2. look for water spots (you'll be able to tell )
3. go look at a home when it rains , you can find out alot then , just by doing that .(mildew means dampness)
4. How old is the heater ?

5. check the water heater how old is that ?
6.check the roof ,could need replacement , and that is a big expense .
7. One other quality you could ask if they're leaving some money in the home , for so many years , some do that .
8. What all goes with the home ? (Some people have special lamp features that they want to take ) For Instance a Tifanny Lamp)
9. When would Settlememt Date be,if your interested in the home .
10. Keep in mind , your Realtor is working for you , so do not be afraid to ask any questions no matter if you think the question may seem dumb , you pay them for there service if you want a particular home . No question is to dumb to ask , what is dumb not asking any . Do not let a Realtor talk you into buying a home , just so they get a sale if its one you really dont want . They can be smooth talkers too .

Answer 5

Ask for a list of houses that have sold in the neighborhood over the past two years. You'll be able to compare similar houses of similar square footage to get an idea of your limits during negotiations. Realtors have access to this information and can easily compile a list from their database.

Don't be afraid to throw the owners a low ball offer.

Decide on your offer in advance and know where you will stop and stick to them.

Don't get stuck on one house so much that you pay over what it is worth.

You can also look at the two years of sales data to see any troubling trends in property values.

Not a realtor related question, but before deciding to make an offer be sure to drive through the neighborhood at all different hours and even better take a few walks through the area at different hours. Neighborhoods look different on different days of the week at different hours of the day. After doing drive-bys and walks you'll know whether it's someplace you want to live...

And finally, get an inspection by an independent and reputable inspection service. It is well worth it. You can avoid major problems down the road by spending some money up front.

Answer 6

First do your own research of requirements, affordability and values in the area of interest. No-one will have as much vested as you.
The (sellers) realtor will provide you with information about the quality of the house, schedule of sale and fees. An inspector should either be brought in prior to signing P&S contract or your contract should be contingent upon an acceptable inspection and clear title
Get a very reliable experienced inspector. If the inspector finds something unacceptable walk a away, otherwise use the inspection to lower the price you are willing to pay.

Give offer >10% below comparables in most markets and force buyer to meet you part way.

An assessor, a mortgage company and lawyer will also profit from the transaction so become familiar with their roles as well.

Answer 7

First of all, make sure the realtor is your "buyer's agent", not the realtor selling the home. You want to have your own agent who is going to give you the best advice and will help make the first-time buying process easier. Ask how many sales they close a month on average and how much time they'll be able to spend helping you to find a home. Ask what their commission percentage is. Ask them if they have names of mortgage brokers and home inspectors, if you don't already have one. Ask what kind of money you would expect to need for a down payment and closing costs. Most important, make sure you like your agent and are comfortable with them! Good luck - buying a first home is very stressful but exciting as well!

Answer 8

Ask as little as possible of the realtor! You want 'warning signs' and the person who makes a few thousand on the sale is hardly going to tell you anything negative- that's like expecting the guy in the Ford dealership to tell you all the problems with a Ford!

Get as much independent advice as possible- find a builder to do a proper inspection (and preferably an actual builder, not a building inspection service that will in all likelihood know the RE agent and rely on her for business). Ask as many people from the neighbourhood as possible about the street- even if that means going into shops or cafes and striking up conversation. Ask the police, too!

Check the local council or government for planning issues- is there a proposal to massively upgrade that nearby road, or build a new freight depot at the nearby airport?

You can rely on the RE agent for advice about titles, legal issues, and borrowing- just be aware they'll tell you nothing negative. That's not how good salespeople work.

Answer 9

the real question is, how many questions should they ask you? They should be working to get you the best home for your needs and price range. they should be asking you a boat load of questions... be weary about a realtor who just shows you properties, without asking you questions beyond #of beds,baths, and preapproval $$$ amount!

one thing you should know is what comes standard with a house purchase, appliances and such things. in PA a stove comes standard, and if one is not provided, then it must be noted in the contract, and agreed to at signing. little details like this can help you NOT sign away things that the seller is obligated to leave, like furnaces and stoves and stuff.

another good question is who pays... most of the time the seller pays 6%, 3 going to the seller'srealtor, 3 to the buyers, but it is always good to make sure. then Closing cost is up to you, they should be able to provide you with a VERY close esimant on what you could expect (you should know that unless other arrangement are made with the seller, or lender you have to pay them out of pocket.)

the biggest question you should ask is the process, it can be a bit paper work intensive, but if you have a Good realtor, they will keep you informed as to the next steps you need to take, and deal with all the direct contract stuff. Remember, they get paid when you get a house, keep them on there toes!

Answer 10

Some of the more important questions to ask of a realtor is
1. Is the house in a flood plane?
2. Has the house ever been on fire (and repaired)?
3. Are you working for me or the seller?
4. Is the house in foreclosure?
5. What are the taxes and utility costs per year? (can be found on the realtor information sheet)
6. What is the crime rate of the local neighborhood?
7. Which department covers fire, rescue, police...?
(volunteer, city, county....)
8. and I would close with...How long has the house been on the market?