How To Be A Smart Buyer At An Open House

How to be a smart buyer at an open house: Open houses can be a home buyer's best friend, saving you time and energy. VideoJug presents some tips on getting the most out of an open house by being a smart buyer.

Step 1:
Case The Joint
Open houses are a terrific way to research a neighborhood- its amenities, its prices, and its atmosphere. Carve out a few hours one day and hit as many open houses as you can in the neighborhood you're looking at. You'll come away armed with information and with a strong sense of what your money can buy.
Step 2:
Deal With The Agent
If you don't yet have a real estate agent or buyer's broker, attending open houses is a great way to find one. Here you can see agents in their element. You'll be able to see who's a hard worker, who you click with… and who's sleeping on the job. If you do have an agent, sign in using his or her name to avoid confusion for the agent who's showing the house.
Step 3:
Mind Your Manners
We know it's hard to keep a straight face when confronted with some décor decisions, but do keep your lips zipped. The owner might be present, and may not be so keen to accept your offer once he's heard your opinion of his hand towels. It's also considered impolite to manhandle the personal possessions, or track rain or mud inside.
Step 4:
Take Your Time
Walk around at your own pace. Check out the fixtures and cabinetry. Turn on the water to check the pressure and water heater. If the owner's there, ask questions and chat about the neighborhood.
Step 5:
Scope Out The Neighbors
If you're interested in a property, walk around it and see what you can observe. Are there many cars parked in a driveway, signaling a crowded house? Is their yard kept up? If you get serious about the house, ask the owners how the neighbors are.
Step 6:
Don't Jump Into An Offer
Real estate columnist Ilyce Glink suggests resisting the temptation to make an offer at an open house. If you think this is the house for you, make an appointment to see it again- and don't tell the agent how serious you are. Under circumstances where there is a lot of serious interest in the house and you feel that you need to move fast, take a break, go for a coffee or a walk outside, and return with a cool head.
Step 7:
Go Back
Realtors suggest making notes about each open house you go to- they will start to blend together after awhile- and returning to the ones that seem like a viable purchase. A recent article in the Boston Globe points out that open houses are usually held on weekends in the middle of the day—showing a house at its Sunday best. It's important to see a property at a different time, since a street that's quiet on the weekends might be on a bus route during the week, and a room that's full of light in the morning might be dungeon in the afternoon.