What should potential buyers look for at an open house?

Making the decision to buy a home, whether it is your first home or the one you plan to spend the rest of your life, is a very exciting time. Although this is a time to be enthusiastic about the future, it is also important to be smart about your decisions because purchasing a home is a major investment. When you start to get serious about buying a home, you will likely find yourself at a number of open houses in search of the perfect place.

When you go to an open house, some things to pay particular attention to are the number of people at the open house, the number of homes for sale in the neighborhood, and of course, the house itself. If there are a lot of people at the open house, it may mean that there is a lot of interest in the house which also means multiple offers. You may want to prepare to offer full asking price, otherwise, you may find yourself in a bidding war.

It is also important that you take some time to speak with the real estate agent. Ask them why the seller is selling the home. If the seller is trying to sell quickly, you may have some room to negotiate the price because they have a sense of urgency. However, if there are many bidders and the seller is not in a rush, they may just pick the best offer. Ask about renovations that have been done, how long the home has been on the market, what the property taxes are like, and more.

If you need the services of an experienced real estate attorney, contact MWM today.

The law firm of Mattleman, Weinroth & Miller, P.C., is composed of experienced attorneys throughout the states of New Jersey and Delaware. Please contact the office for a free initial consultation and get any questions answered regarding your specific case.