Ten Questions To Ask Your Property Buyer (And Ten More Buyers Need To Ask Their Real Estate Agent.)
Questions asked early provide answers, the valuable real estate information. To determine the right direction to head in the most expensive life time move most people ever make.
Communication back and forth, going both ways is a beautiful thing in a real estate property transaction. Upfront, during, leading into the closing on a listing for sale that is “the one”.
Every real estate agent, broker, REALTOR should ask buyers and sellers a list of critical questions.
Like a doctor or lawyer to diagnose the problem, recommend a solution and to set realistic expectations to follow.
And if there is strong opposition, backing away. Because you can not help those that don’t want to take the advice after weighing the pros and cons of each slightly different real estate situation.
The early little talk at the listing kitchen table after the walk through or in the real estate office or during a showing provides a glimpse at the likely outcome from everyone’s efforts.
To determine the actual odds good or bad from experience of the real estate professional checking their gut feeling, the heart and the head for the job at hand.
Sizing up a particular buyer or seller and study of their role in the script. And likely outcome of ever getting close to a successful real estate transfer sit down around the long conference room table.
I work in a small rural market and help buyers and sellers at the same time in the real estate match making.
Less layers of players. No home stagers, rare to see building inspections, no dead bolts or locked doors.
People living in small Maine towns wave, smile, are friendly.
Hold doors open for you regardless of your age. Wave you on, wait for you to take the first move in traffic. Make eye contact, say hello wherever you wander in small Maine towns.
The buyers and sellers are highly skilled in lots of areas.
Especially in the building trades in small rural real estate markets.
Very hands on and don’t hire everything out.
The lower price tags on the property listings, tight money, frugal ways a big part ot the way things roll here in Northern Maine. So back to the those real estate questions to ask from each direction.
For the real estate broker, the first question to pose to a prospective buyer is what are you looking for today, can you please share your property listing dream?
Following up taking very good notes with “Where have you been living, describe your current housing situation”. What’s your time table to stop couch surfing, sleeping in your car? (Said tongue in cheek)
The questioning continues with have you been to a bank to see if you qualify for a loan and for how much? Which program to make sure the mortgage underwriting guidelines fit the property being eyeballed.
Have to sell another home on the chopping block or other property first before buying again?
If a cash sale in what price range do you need to be for the closest to the target price range the bank “loan arranger” said to park it? Ready to roll today or on hold from pulling the trigger to buy? Waiting on an accident settlement, an estate to be probated for your share to purchase? Have a 401K to tap or retirement causing the relocation to happen when ideally?
How long have you been looking for property?
How’s that search been going so far? Tell me about it. Thinking you are ready to buy today or just beginning the hunt for a property? How serious are you? Any loose ends to clear up with new jobs, divorce, credit, medical procedure set backs? Not retiring for a couple years but would or would not buy today and thinking you could rent out the place or use as a second home?
Or any strings attached to a purchase for contingencies of a real estate sale that I should be aware of today?
Let’s learn about it all up front for no surprises down the road.
Need a first floor bedroom for your mother in law?
To be a certain distance from anything from hospitals to Walmart?
Why has it taken so long to find a listing that works if it becomes apparent something is a snag, holding up settling in on a property to buy.
Starting the bank mortgage approval process, the finishing legal peek at the title deed before the clear to close memo gets circulated.
Then mixed in with the questions the real estate professional asks, it opens up ones in return.
Ten questions that should come up in the conversation that the buyer needs to pose to the guy or gal with the blazer on the other side of the desk or phone, email, text message.
Ask the real estate broker, agent, REALTOR if you the buyer is not ready to buy, any places out there to rent until I can get whatever is holding up a purchase?
If you are ready to buy some property, after painting the picture of what is needed, is there anything for sale like I just described Mr. Real Estate Professional? Why or why not?
The real estate agent or broker should explain the current market conditions for the area of the property supply the buyer swims in best. For what also needs to happen in this price range for repairs, the money to do them before a home loan is approved. To know what to expect.
Plus that it could take some time for what they want to buy to come on to the market. To open up because none available or a very tight supply exisits currently.
If the price range is too low for the property expectations, someone needs to be broaching that subject hard with some real estate candor. Right up front and not after traipsing through multiple properties until that conclusion is reached.
The real estate professional does this list and sale process day and night, your buyers do not.
Set the expectations, chart and navigate the course to get from listing to real estate property listing closing.
All along the way.
Beginning the search for an agent or broker to work with, beware.
If immediately he or she smiles and tells you he or she knows exactly what you are looking for before any questions have been aired. That is the first big fat waving wildly in the wind red flag that is pretty hard to miss.
You need a real estate matchmaker to guide to the best property for you all things consider including price.
Not a salesmen who wants you to buy the first place suggested. Telling you what you want or making you feel that you have no idea so here, let me pick the one place that you want but just don’t know it yet.
To make their property exchange job easy and to free them up to go off to the next real estate buyer. For more of the same dog and pony smoke and mirrors, snake oil.
Property buyers are way more savvy these days and not sheep thanks to the Internet, the size of the purchase they are considering making.
Don’t want games or costly time delays either. Can’t afford either. They need to make a move and the real estate professional is opening the doors or is a road block drag on the process.
More questions for buyers to ask the real estate agent, broker, REALTOR.
Which banks for mortgage lending help are the best pick for me now that take into consideration the place I want to buy and gleaned from what you have learned about my current real estate need situation?
Which lawyers to select from your experience to save money, not waste time. Don’t tell me who not to use for banks or lawyers either. No one gets dissed. Just the right ones for me after you hear my story. See my specific needs.
Anyone else along the way that is needed who would make this a smooth and the least expensive process in time and money?
Who do I get to fix the list from the appraiser to bring the property up to lending standards without draining the bank account? Very important guidance or the real estate sale fails. Dies on the table. Pull up the white sheet, apply the toe tag. Wheel that one off to the real estate morgue drawer.
There are the twenty questions and then some to make sure are part of the real estate discussion.
In our small rural real estate in Maine market, it is emphasis on sellers first because without inventory, property listings of all types, location, price ranges, there is nothing to sell. Close up the marketing tent. You can not be open for business.
I know there are buyer agents out there that would think it is the other way around. But nothing for sale, a kink in that hose and zip for anything to buy.
Which came first, the real estate listing or the property buyer? In approaching 36 years of helping buy and sell.It starts with a health inventory of Maine real estate property listings for sale across the board for selection.
At MOOERS REALTY have learned we need both to survive and the pair are best served if more information is included on the property online marketing.
From the property owner interview and the examination of the listing about to be put up for sale. And the buyer of real estate quiz Q and A results combined.
It is so so important. To make the sale go smoothly, almost hitch free.Because of a thorough discussion of the process of list and sell, also what buyers and sellers have for duties in their particular real estate transaction.
207.532.6573 | [email protected] |
MOOERS REALTY 69 North Street Houlton Maine 04730