Some Typical Questions for the Buyer’s Agent

Typical Questions of a Buyer Agent

I will update this list as I get them…

Short Answer

Has the market peaked?

Yes and No – It all depends on when and where you are asking…If you are talking macro market, it depends on interest rates and general volume of Buyers. In the micro market, it also depends on school district, condition, location, and local employment.

Is this a buyer’s or seller’s market? It all depends on what’s selling in the subdivision or area and how those properties compare to yours.

Where are interest rates heading?

I don’t know – economic conditions change daily and mortgage rates typically move in the same direction as the rates of 10 Year Treasury Note.

What is a homeowner’s association and why are there mandatory fees?

New subdivisions normally require homeowner’s to be member’s of a homeowner’s association (HOA). The HOA has rules to follow and may have amenities like swimming pool, tennis courts, or playground. Fees include maintenance of amenities, and may include certain utilities, insurances, and grounds maintenance.

Is property in a good school district?

We can check several sources of ratings and rankings, but nothing is better than primary information by school visits & ask parents.

What stays in the house after closing?

Normally, items that are anchored down (dishwasher, stove, etc,.), unless otherwise mentioned on the Seller’s Property Disclosure Statement, remain.

Are foreclosures a good deal?

That depends on many factors like price, area, property condition and repairs needed, style of home, and what you plan to do with the house.

Why is a house on the market?

Your first thought is to try and determine if there is a distressed situation so you can get a better price. Even if the Sellers already bought another home, there may be no rush since it may be paid for, will be rented to their children, friends, or relatives if it doesn’t sell, or they may just want a price and stay in it. The average listing period these days is now about 90-120 days with about a 6+ months supply of homes on the market.

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