An open house is a perfect opportunity for the listing agent to ask prospective buyers lots of questions, such as "have you been pre-qualified for a mortgage?" or "how long have you been looking?" Instead of being on the receiving end of all the questions, why not ask a few of your own? Questions that will help you decide if this is the perfect house for you or if you should walk away. Here is Question #6 of "7 Questions You Should Ask at an Open House."
Questions You Should Ask at an Open
#6: Are Any
Costs of Ownership Attached to the Property?
Sometimes, a home isn't just
a home and what you see isn't always
what you get. This is true even in real estate unfortunately.
the sixth question you should ask at an open house is
are there any special costs of ownership attached to the property.
Is there a homeowner's association that levies dues and
assessments? If so, who belongs to the association and who manages its
affairs? Is the home located in a special property tax assessment
district? If so, how much is the annual tax assessment and how is that
money used? Is the home in a flood hazard zone? If so, how much are the
annual flood insurance premiums? Are there any other hidden costs of
ownership (like tax liens)?
If you want to buy a home with as few surprises as possible, find out
if there is anything else coming along with the purchase of the house!
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