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As a Buyer, Should You Attend an Open House?

An open house for a newly listed home used to be the only way to learn about a home, but internet listings with interior photos and virtual tours have changed things, and sped up the process.  

It’s important to recognize that photographers often use wide-angle lenses to make the rooms look bigger, or they can retouch photos to look prettier. You don’t really get a feel for the size or flow of some homes through a series of pictures on a website. You also can’t see the neighborhood on a property listing. Going to an open house is an easy way to get a sense of both. 

If you’ve already started working with a buyer’s agent and you go to an open house, be sure to tell the selling agent immediately that you are already being represented by an agent. Provide contact details for your agent - it will save you from the selling agent’s pitch to get you to work with them. 

If you find you are interested in making an offer on the open-house property, talk to the selling agent as little as possible. Anything that is said could affect your negotiating position later. It’s best to call your agent immediately to put an offer in motion for you.

Another important consideration is how quickly houses are selling in the current market. If homes are selling quickly, you may need to act quickly, rather than wait for the open house. 

To avoid feeling extra pressure in a tight and competitive market, consider touring the neighborhoods that interest you in advance. Get a feel for the community, and become familiar with the general types of homes in that area, their age, layout, and general construction and repair issues. Then when a listing comes up, you will have a better knowledge of what you are viewing online.

Home Inspection: Potential Deal Breakers

A home inspection report covers many facets of the home, from the roof to the foundations, including all the smaller things such as fireplaces and garage door openers. 

But, according to Frank Cooper, senior certified home inspection specialist and owner of Atlanta Property Inspections, the most important parts of the inspection report would be the health of the largest systems. These would be the foundation, roof, plumbing, electrical system and mechanical systems.

These areas of the home are the most important and represent the greatest risk and cost if something is wrong with those components, Cooper says. 

Common deal-killers are often things  the buyer is not aware of before the inspection.  Surprises can include a leaky roof, mold inside the house, rodent activity in the attic, and outdated electrical wiring or plumbing systems. Because these problems are expensive to resolve, they can quickly become deal breakers if the seller is not willing to help with repair costs.

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Weslee Knapp, Principle Owner and Broker Keller, Knapp Realty. Information believed accurate but not warranted. Equal Housing Opportunity. If your home is currently listed, this is not a solicitation. Lenders: Mark Milam for Highland Mortgage NMLS# 1969375 1746 Noble Dr NE, Atlanta, GA 30306 (www.nmlsconsumeraccess.org), Jason Conn for US Bank, NMLS# 210515 2 Concourse Pkwy, NE STE 250 Atlanta, GA 30328 (www.nmlasconsumeraccess.org)

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