I think one of the best parts of working with first time home buyers is the excitement they have to tour homes.  It is fun to explore properties and see the layout of homes.  Sometimes, the home that we thought wasn’t going to be the one ends up being perfect for the buyers.  After all, the photographs you see online of a home can make you save it as a favorite, but you can only decide if it is the home for you once you’ve been inside.  But, before you write an offer on a home, here are some questions to ask your Locust Grove REALTOR ® that will help you decide if this is the home for you.

How long has the home been on the market?

Your Locust Grove REALTOR® can tell you how long the house has been for sale and what the average days on the market are. Knowing this information can help you in writing an offer.  A home that has been on the market for much longer than the average days on the market may have a unique layout, need more cosmetic improvements, or could be over priced.  These things might impact your offer price.  However, this does not always mean something is wrong with the home.  Perhaps the owners are content to wait for an offer that works best for them. 

On the other hand, your Locust Grove REALTOR ® may tell you that the home you are viewing just entered the market and has a lot of showings.  If you are interested in this home, you may need to make an offer closer to listing price and quickly.  In either case, no real estate agent has a crystal ball that can tell the future, so when you find a home you love, make an offer!  Even homes that have been on the market for a long time can get multiple offers in the same week.

Why is the seller moving?

Understanding why a seller is moving may give you a clue about their willingness to negotiate.  For example, if a seller is relocating across the country for a job, they probably don’t want to carry two mortgages.  However, if the property is a family home that has no mortgage, then the sellers may be able to wait.

Is this list price comparable to other homes in the area?

As a Locust Grove REALTOR ®, I use comparables (similar sold homes in the area) to help determine if the listing price of a home is of market value.  For buyers, this information helps them know if the home is priced over, under, or spot on market value.

Is this home in an HOA?

There are several communities in Locust Grove that have homeowners associations.  Lake of the Woods, Wilderness Shores, and Somerset are all HOA communities, but the rules and regulations in each are different.  Ask your Locust Grove REALTOR ® any specific questions you might have about the community to find out if it is a fit for you.  For example, can I have a fence?  What amenities will I have access to in this neighborhood?

When was the home built?

The older the home the more maintenance may need to occur.  In large renovations, older homes may reveal plumbing and electrical issues that younger homes do not have.  However, many buyers appreciate the charm and character found in older homes that newer homes lack.

How old is the roof?

All roofs have a lifespan.  It is good to know where your homeownership will fall in the life span of a roof.  Your Locust Grove REALTOR® can find out this information from the seller’s agent.  Getting a new roof on a home is expensive, inevitable, and necessary, so it’s good to know if that is something that will need to be budgeted for soon rather than later.

Is the HVAC system original to the home?

Another high cost replacement item in any home is the HVAC system.  Like the roof, knowing the age of this system can clue buyers in to how many years are left before a replacement is necessary.

Does ____ come with the property?

Items like sheds, swing sets, washers, or dryers may or may not come with the property.   Your Locust Grove REALTOR® can find out if the sellers plan on leaving these things behind or are going to take them.

Did the seller disclose any issues with the home?

Home sellers are required, according to the residential property disclosure statement, to disclose any known issues with a home that might not be readily apparent and could affect the health, safety, and value of the home.  These are things that the sellers are aware of but have not been repaired.  If a seller has disclosed any issues, then your Locust Grove REALTOR ® will share this information with you.

It is important to note that if an accepted offer is made by the buyers, the buyers will still do a home inspection.

Has a survey been completed?

The sellers of a home with acreage may have a survey they can share with buyers that clearly outlines the property lines.   In a neighborhood, it is pretty easy to tell where one property ends and another begins, however when a buyer is interested in a home with five acres of land, these boundaries may not be as apparent.

Are there any easements on the property?

Easements for electricity, water, and sewer lines can be on properties.  It is important to know where these easements fall on a property.

What are the property taxes or HOA fees?

Different counties in Virginia have different taxes.  These taxes need to be a line item on your budget, so it’s good to know approximately how much the taxes on a home may be.  If buyers are considering a home in an HOA, then knowing the yearly fees for the HOA is important too.

Is the seller offering a home warranty?

Some sellers will offer a home warranty as an incentive to buyers to make an offer on a property.  

Do you see any challenges with this home?

Depending on the buyers plans, purchasing a home for the long term can be different than purchasing one for the short term.  Ask your Locust Grove REALTOR® if there is anything that might impact the resale of the home.  A busy street, an up and coming commercial development nearby, or a unique layout may be things that could impact the home later.  This doesn’t mean that the buyers have to say no to the home, but it is good to be aware.