Questions for Your Buyer's Agent

1) Questions to ask to determine whether to buy

Has the market peaked?

Where are interest rates heading?

Is this a buyer's market, or a seller's market?

2) Questions to ask about financing a home

What costs, in addition to the house price, should I expect?
Do I risk losing the house if I have "creative" financing?
Will the seller consider financing part of the down payment ?
Can you refer me to a mortgage broker who handles government loans ?
If considering a condominium or co-op, how much are the association dues for maintenance and repairs, and what do they cover?

3) Questions to ask when choosing an agent

Are you an agent or a broker? Who is your managing broker?
Can you recommend a reputable property inspector ?
I’ve heard that my lender is unreliable, but he has the lowest rates. What do you think?
Will you reduce your commission if I find my own home ?
I don’t need help finding a home. Can you just help me with negotiating the contract and the closing, and charge a fee for those services?
Do I need to sign an exclusive contract with you?
What services do I get as part of the contract?
Will you show me FSBO properties?
Will you consider paying me a portion of your commission at closing?
How much is the commission on a dual agency?
How much of a discount can I get on the commission?
How am I protected in a dual agency situation?

4) Questions about finding the right home

What can you tell me about the local school system?
Who provides local services (city, county, state?) and how are they funded? Is the local economy strong enough to maintain a healthy tax base?
Are there any big projects in the works (e.g, housing developments, highways, shopping malls) that might impact the neighborhood, either for better or worse?
If considering a single-family detached home, what is the status of adjacent or nearby underdeveloped parcels that might impact the view or otherwise affect the home?
If considering a condominium or co-op, what are the rules regarding pets, parking, exterior elements, and rentals?
When considering existing construction: What major repairs and/or improvements have been made and when? Were all necessary permits obtained?
When considering new construction : What else has the builder built, and is it possible to see the results? How will my home differ from the model home?
With existing construction, what appliances will remain with the house?

5) Questions about foreclosures and fixer-uppers

What experience do you have with foreclosure properties ?
Are there any outstanding liens or other issues that could impede ownership, and has the house been inspected?
How does the asking price of the house (foreclosure or fixer-upper) relate to comparable homes in the neighborhood, and is the difference great enough to warrant moving forward?


6) Questions about a house you’ve found

Does the total square footage include the basement or unfinished space?
Does the total square footage include the garage?
Have they measured the interior or the exterior of the building?
Can you get me the numbers for taxes, insurance, fees, and other maintenance costs?

7) Questions about the offer and negotiating

Can you get me a CMA for this property ?
What do you know about the seller's motivation?
How long has the property been on the market?
The market is hot, should I offer an escalator clause?
Can you recommend an inspector ? How many times have you worked with him? Can I get a reference from your past clients?
Can you walk me through a sample contract before I am ready to make a purchase?
What does this state require in a purchase contract?
What contingencies do you recommend?
Will you present my letter to the seller along with the offer?
What will you do to help me meet the schedule?
What type of market are we negotiating in?
What is your strategy for getting me the best house and price?
What conversations are occurring between you and the seller's agent?
How can I get in touch with you quickly during the negotiation process?
Is this counteroffer fair?
What would you suggest I concede?
What do you know about the seller that I should know before countering?


8) Questions about closing

What is a title?
How and when will I collect the keys?
Are you arranging for the escrow company , or do I need to find my own?

Related links: Home Buyers' Fearbusters Resources for Buyers