Open House Tips for Potential Homebuyers

Open houses have been a staple for home listings for decades. Often these are attended by people just driving by on a weekend day or neighbors curious about pricing and upgrades, but they can also be a strategic aspect of searching for a new home. Often overlooked, potential home buyers can use public open houses to explore communities and homes and by following a few tips, find a great new home.

Open House Tips for Buyers

Research Online First – Most open houses are advertised on public website search sites. Review options and pictures ahead of time.  Eliminating the homes right off the bat that you are not interested in can save you hours.

Limit Your Options – Don’t overload by trying to see too many homes in a day. It’s hard to remember details if you see more than 4-5 homes. Be sure to take any information sheets available and make notes so when you go back later to discuss the homes, you have a frame of reference.

Make a Good Impression – Take the tours seriously. Be organized, dress appropriately, and be knowledgeable about the property. The listing agent will be representing the seller's side of the transaction and, if you decide to buy the home, the listing agent will remember you from the open house.  Keep any negative impressions for discussion after you leave and thank the listing agent before you leave.

Questions – Come with questions about the home. Ask about the community, schools, upgrades, repairs, and why the home is being sold.

Ask for Information and Disclosures – Ask to see current property tax and association fee information. Ask to review the disclosure documents while you’re there. Seller disclosure, HOA addendum, surveys, and listing sheets are often there for you to review, so take that opportunity to learn what you can.

Perform a Visual Inspection – Take pictures and note any obvious signs of deferred maintenance or repair issues. Look at the roof, walls, drainage, windows, doors, and garage for signs of damage or water intrusion. If you make an offer and it is accepted, there will be a more detailed inspection by a licensed real estate inspector, but if there are glaring issues obvious to you as you walk around, they can be used as negotiation tools.

Finally, remember that the listing agent is first and foremost responsible to the seller. Avoid providing any information that could be used in a negotiation. Strongly consider using a dedicated buyer’s agent if you decide to make an offer so that your interests are protected. The listing agent may offer discounts, but having a fiduciary on your side could save you a lot more money in the long run.

Do you have your eye on a property, but still don't want to show up for an open house?  Or, maybe the agent isn't having open houses right now?  Give me a call today to set up a showing and get started on your home buying adventure!