Attending an open

Open houses are a great way to see first-hand a home you are interested in buying, and they provide a good opportunity to find out more details.

In that way it is an important and necessary part of the research or due diligence you need to perform before committing to what can be the most expensive purchase of your life.

With this in mind, there are a few things that all prospective buyers should do.

Before you attend an open house make a checklist of the things that are important to you, such as architectural features, location or state of repair. The checklist is a simple way of keeping track of what you see.

When you get to the property you will most likely be greeted at the door by the real estate agent. Take the time to talk to them; they are experts on real estate in the local area and if they know what you are looking for they will be able to help you.

If you are interested in buying the property but have not reached the point of making an offer, it is sensible to tell this to the real estate agent, that way you are less likely to find the home has been sold without your getting the opportunity to make an offer.

While you can obtain a Section 32, otherwise known as the vendor’s statement, and contract of sale directly from the estate agent, the open house can be a convenient time to pick up one and study it as you walk through the property. It’s also a good time to ask the real estate agent any questions about the document you may have, prior to seeking legal advice in the event you wish to make an offer

source: reiv.com.au