One of the most underestimated moments in selling a house or apartment is when prospective buyers gently explore whether the property has any problems.
If you decide to remain in your home when buyers conduct their walk-throughs – not necessarily something I’d recommend – you become a focal point for answering these questions.
As an experienced local agent, I favor volunteering information, but there’s no excuse for misleading a buyer.
You’ve got to be honest, or there’ll be repercussions down the line if a sale proceeds.
Some buyers will go legal if they believe they’ve been misled, claiming breach of contract or misrepresentation.
Being economical with the truth can cause problems, even if you believe them to be harmless – a point of view with which a buyer might disagree.
In real estate, experienced agents know the most common questions buyers will ask an owner and how they should be answered.
To help you avoid trouble, here’s five of the favorite questions that can get folks into hot water. However, the real lesson here is to let your agent conduct the walk-through and do the talking.
How long has your home been on the market?
This is the most common opener from a buyer. Don’t fudge the answer with something like, “not that long”. If it’s four weeks, say so.
How old is the HVAC?
It’s a great buyer question because replacing ones on their last legs is not cheap. If you know the answer, be straight with them. The truth comes out if and when the new owners check the model number of the HVAC.
Is this a great place to live?
Buyers will always quiz an owner about the neighborhood. Tread carefully. Claims of excellent schools, for example, are easy to check. The same goes for claiming “it’s so quiet” when local crime is rising. Politely suggest they do their research to satisfy themselves.
How are the neighbors?
Avoid buying into this conversation. You may not mind the parties at 2am, but the new owners might. It’s impossible to give an objective answer. Some folks get along with each other; others don’t.