1st house walk through with potential seller. Any tips?

Question

Hello everyone,  This will be my first time viewing a home and wanted to know if anyone  has any tips or suggestions on the questions I should ask, how should I "act". I also look pretty young for my age(26), some people still think I'm about 18 or 19, so I'm kinda worried I won't be taken serious :( .

Roland Paicely · Answer

K.D.,

Don't worry about it.  The only thing that the seller is concerned about is selling his house.  Very important to be natural and find out why he wants to sell.  If you can get a price from him, great.  If not, no biggie.  Try to find out mortgage balance.  By walking through the house you should get an idea of the condition it's in regarding repairs/updates.

Be natural, when you don't know the answer be honest.  Tell him you don't know but you will get back to him.............Good luck

Jim Viens · Answer

I also try to point out things to the seller as I see them during the walkthrough (both good and bad). Not to nit-pick the house but to connect with them somewhat on why they want to sell the house and also to subtlely plant seeds to let them know they aren't going to get a retail price for the property. Say, for instance, the windows are drafty; you could make a comment like, "Boy! I bet that makes it chilly in the winter. And new windows aren't cheap.". Or if you see mold in the bathroom: "I'm sure that messes with your allergies." Just be VERY careful not to come across as judgmental or condescending. If the place is a mess, tell them "Don't worry about a thing. I've seen much worse. I'll take it just like it is...no cleanup necessary."

Hope that helps, and good luck!

Chad Clanton · Answer

Very cool, just picked up a second walkthrough for tomorrow myself, and a realtor who says she may have another. Lol. Now all I need is for one of these walkthroughs to evolve into an actual deal... ;-) Congratulations on your walkthrough, definitely keep us posted on tomorrow as well! Psyched for you!

K.D Neider · Answer

just finished seeing the property and it went pretty well, although,  I don't think we have a deal. They're asking for too much and seem emotional invested in the property due to the prior work that was put in. On a brighter side, I saw a fsbo sign and called and have another appointment in 40mins!! Hopefully the numbers work out for this one.

Chad Clanton · Answer

Great idea with the subtleties @Jim Viens ; I'm slowly teaching myself to not pitch anything but just have the conversation (probably another way of saying relax :-P), and the more normal it sounds coming out, the better. I can definitely see where going through the laundry list during the walkthrough could potentially modify the seller's thinking. Thanks for sharing!

Chad Clanton · Answer

I don't know what deed information is available online in PA, but the County Clerk's office should (I assume it's the same in PA) have original loan amounts on the Deed of Trust that was signed over to the lender at time of purchase; note this is not necessarily the purchase price of the property, just the amount of the loan. If anyone knows the process there better, please chime in. Good luck!

K.D Neider · Answer

Thanks everyone for your help.  I will definitely try to use it all. I'm just nervous I guess.

Chad Clanton · Answer

Hi K.D., I wouldn't worry too much about being taken seriously; just be yourself and try to relax, it's just a conversation. If you're wholesaling, it would be useful to find out any significant repairs the property may need, as well as any that may have been done recently (roofs, water heaters, etc come to mind, since they tend to have relatively specific life spans). There are also some property information sheets over in the FilePlace that include fields you may be interested in (use your discretion on which to ask during a walkthrough). I'm sure that others will chime in with more advice, but my best suggestion is to simply not worry too much. Good luck, and let us know how it goes!

1st house walk through with potential seller. Any tips?

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