{"id":48622,"date":"2022-01-15T19:48:46","date_gmt":"2022-01-16T03:48:46","guid":{"rendered":"https:\/\/www.movoto.com\/blog\/?p=48622"},"modified":"2022-04-19T22:42:12","modified_gmt":"2022-04-20T05:42:12","slug":"the-10-most-important-questions-before-making-an-offer","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/the-10-most-important-questions-before-making-an-offer\/","title":{"rendered":"10 Important questions before making an offer"},"content":{"rendered":"<h2>1. Before making the offer, how much did the seller pay for the home?<\/h2>\n<p>Although in many cases the original purchase price may have nothing to do with the current value of the home, it\u2019s always a good idea to ask.<br \/>\nFor example, if the seller only bought the home about five years ago and the markets haven\u2019t vastly skyrocketed or plummeted (and the seller didn\u2019t do renovations), the price shouldn\u2019t be drastically far off from the original. Finding this number out can sometimes help you to negotiate a better deal.<br \/>\nIt\u2019s also worth asking them why they\u2019re selling the home if they bought it recently\u2014if there\u2019s something about it the seller didn\u2019t like, it might be worth getting the scoop from an inside perspective.<\/p>\n<h2>2. Are there any foreclosures for sale near the home you&#8217;re making an offer on?<\/h2>\n<p>Maybe you fell in love with the home, or maybe you fell in love with the location. If the latter, then you have a good chance at getting a similar home at a much cheaper price if there are foreclosures for sale in your target neighborhood.<br \/>\nIt\u2019s always good to be aware of the property\u2019s surroundings, and if your agent alerts you of some nearby foreclosures, it\u2019s definitely worth a thought to consider one. Also, the presence of foreclosures in a given neighborhood will create competition\u2014so you may be able to offer less on the home you\u2019re after.<\/p>\n<h2>3. What\u2019s the property you&#8217;re making an offer on worth?<\/h2>\n<p>This one\u2019s probably a no-brainer, but you need to get an accurate idea of how much the home you\u2019re looking to buy is worth in today\u2019s market.<br \/>\nYour real estate agent won\u2019t tell you an exact number to submit for your offer, but they can give you a really good idea by providing you with the prices that \u201ccomps\u201d (or comparables) in the area recently sold for.<\/p>\n<h2>4. How long has the property been on the market?<\/h2>\n<p>This is related to the question above and is just as important to find out. If the home has been sitting on the market for a few months, it could be a tell-tale sign that it\u2019s overpriced. It could also be a slow market or an area where people really aren\u2019t looking to buy\u2014and to that, you should ask yourself why.<\/p>\n<h2>5. How flexible is the seller on the asking price?<\/h2>\n<p>Although it may seem like an awkward question to ask, the seller\u2019s agent should provide you with a clear answer: either there\u2019s wiggle room or there\u2019s not.<br \/>\nIt\u2019s far better to get an inside understanding of how flexible the seller may be with the asking price than insulting the seller directly by offering something far below what they think their home is worth.<\/p>\n<h2>6. Will the seller help with the closing costs?<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-48623\" src=\"https:\/\/movoto.kinsta.cloud\/wp-content\/uploads\/2021\/02\/blog-ask-agent-questions.jpg\" alt=\"The 10 Most Important Questions Before Making an Offer - Movoto Real Estate\" width=\"712\" height=\"340\" \/><br \/>\nSimilar to finding out if the seller is flexible with their asking price, you should also find out if they\u2019re willing to offer any concessions. This includes helping out with closing costs or paying for repairs that need to be made. Knowing this sooner than later will help you budget as you get closer to closing.<\/p>\n<h2>7. Are there any previous or current issues with the home?<\/h2>\n<p>Even if the house looks picture-perfect, it\u2019s important to remove your rose-colored glasses and realize that there could be more to it than meets the eye.<br \/>\nSince you\u2019ll be getting a <a href=\"https:\/\/www.movoto.com\/blog\/what-you-should-know-complete-home-inspection-checklist\/\">home inspection anyway<\/a>, it\u2019s definitely worth it to ask the seller upfront of any issues they\u2019re aware of so you can double-check on them during the inspection.<br \/>\nEven if the home looks great, previous damage (like a fire that caused structural issues) might not be immediately apparent if it\u2019s hidden behind walls.<\/p>\n<h2>8. Are there any changes planned for the surrounding area?<\/h2>\n<p>It\u2019s probably good to know if the neighborhood you fell in love with before buying your home will be that same neighborhood after moving in.<br \/>\nAre there any proposed plans to build commercialized areas near the property that could increase traffic or just general construction that could bring round-the-clock noise? Or maybe there\u2019s a new school in the works, which could actually add value to the home.<\/p>\n<h2>9. What is the seller\u2019s timeline?<\/h2>\n<p>Some sellers are trying to get the process done quickly\u2014they might have to move for a new job or they could (unfortunately) be going through a divorce. In these cases, they might be willing to take the first acceptable offer they see.<br \/>\nThis means one of two things: someone else might beat you to it, or you can possibly go in at a lower price, hoping they\u2019ll accept it to move the process along.<br \/>\nOn the other hand, a seller might not be ready when you are. They might be waiting on everything to go through with the new home they\u2019re moving into. Knowing the seller\u2019s preferred settlement date before putting in an offer will help you plan your next steps smoothly.<\/p>\n<h2>10. Have there been any other offers?<\/h2>\n<p>This is the golden question. If other offers have been made on the home you\u2019re after, you should find out what those other offers were and why they were rejected.<br \/>\nDon\u2019t assume that another person\u2019s offer was declined due to price alone, making you feel like you have to up your offer\u2014there may have been other conditions that led to the rejection (like settlement timing, no pre-approval letter, or a disagreement of terms).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. Before making the offer, how much did the seller pay for the home? Although in many cases the original purchase price may have nothing to do with the current value of the home, it\u2019s always a good idea to ask. For example, if the seller only bought the home about five years ago and the markets haven\u2019t vastly skyrocketed or plummeted (and the seller didn\u2019t do renovations), the price shouldn\u2019t be drastically far off from the original. Finding this number out can sometimes help you to negotiate a better deal. It\u2019s also worth asking them why they\u2019re selling the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":48624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[167,223],"tags":[195,49,177,188],"class_list":["post-48622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basics","category-buying","tag-backup-offer","tag-buying-a-home","tag-make-an-offer","tag-offer-letter","post--single"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>10 Important questions before making an offer<\/title>\n<meta name=\"description\" content=\"When it comes to buying a home, here are the 10 most important questions to ask before making an offer on your new pad.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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