Around a week ago, I wrote about how some sellers may be wondering why their homes are not getting as much traffic as they thought they would and how the pictures, or lack of thereof, may contribute to buyers not wanting to even view the property.
Once a client visits a house, I am often surprised (as are my clients) when answers to what are considered basic questions can not be answered by the listing agents or the seller. Most listing agents will reply "I'll have to check" if they don't have the answer readily available and most will respond within a few hours after the showing.
However, after a few "I don't know - I'll have to check", the buyer's interest in the property starts to wane and then they begin to question if there is something wrong with the property because the agent doesn't know (and appears to not want to know) anything about the property or the seller has not given any information about the property to the listing agent. (Imagine going to a restaurant and asking some questions about the menu and the waitstaff not knowing anything about the ingredients, preparation, etc.)
As an exclusive buyer's agent, I work with my home buyer clients to help them identify and purchase homes that meet their needs. In order to help my clients evaluate a home, there are some general pieces of information that are typically requested by home buyers that are of great help in determining if home is worth pursuing.
Here are a few of the questions that are consistently asked by home buyers and their buyer agent:
How old is the roof, heating system, hot water heater, windows?
How old are the appliances? Are they staying?
Are the window treatments staying? Are there any exclusions of fixtures that are not included in the purchase price?
Where are the lot lines? Do you have a plot plan?
What are the average electrical / gas / water / oil bills? What does the homeowner insurance typically run? (these are particularly important for first-time buyers that are on a tight budget)
Has there ever been water in the basement during the time the seller has owned the property? If so, when and how much? Is there a sump pump?
If there has been recent renovation work - were building permits pulled and have all the permits been signed off on? Have all of the contractors / sub-contractors been paid-in-full?
If there is a pool - does the seller have a permit from the city / town for the pool?
If the home is on septic - do you have the Title V certificate? When was the last time it was pumped?
Although these questions are very basic, you would be surprised at how difficult it can be to get them answered. Having the information in advance and readily available to the listing agent and potential buyers can make the difference between a buyer feeling comfortable moving forward with an offer or moving onto the next house on the list.
Gary Dwyer, CRS, GRI, ABR, REALTOR
Buyer Agents of Boston, LLC - Exclusive Buyer Agents Serving Greater Boston
806 Tremont St, #2
Boston, MA 02118
617 997-5570 - Voice
617 507-8104 - Fax
Disclosures filled out completely should cover your water in the cellar concern. Along with the evidence of rust two feet up that furnace. Often times the person who answers the office phone to discuss a property they have never even seen is the issue as they fumble thru the skimpy listing sheet which the buyer always has and knows more about the place than the floor agent. Every listing I take I take the 40 images, shoot and edit the video, sit down with the owner, upload remarks, details to MLS, realtor.com enhanced site. And on top of it all we produce our own local packed listing sheet that has all the areas for comments and information the mls does not provide spaces for. Buyers who are relieved when they ask are you the broker who listed the place and I tell them that's me, involved in the A to Z and that's my voice, me on camera taking you in, around, thru out the listing. They are relieved that here's a guy that does not say "I don't know" because he asked, documented, posts tons of information, imagery, video on the listing. And who's writing all those blog posts, producing community videos on the area you know nothing about but are considering relocating to part of full time for a home, farm, or summer lakeshore property purchase. That is service that any full time broker/agent worth his weight in salt provides consistently, thoroughly or makes the ones that do shine brightly as the exception not the rule like any profession with the 80/20 rule.
I love the seller's disclosure form (I wish more brokers used them) as well as the "Showing Books" that some agents use where they have copies of utility bills, building permits, plot plans, etc. that either the agent can use to "refresh" them memory during an accompanied showing or a buyer agent can review during a lock-box showing.
Gary, Good questions to make sure you have the answers to. As good as we think we are in dotting all the i's and crossing all the t's, it sure doesn't hurt to incorporate this list too! Thanks.