Looking for New Homes in Portland? 5 Questions to Ask Your Realtor
As you shop for new modern homes, don’t be afraid to ask your realtor some tough questions. It’s better to know the details about a potential major investment so you can feel confident about making an offer. When looking at new homes in Portland, ask:
1. What is the market value of the property? A real estate agent can’t tell you how much to offer on a home, but she can tell you the value of comparable homes in the area, how long homes in the area tend to stay on the market and how much of the original asking prices sellers tend to receive.
2. How flexible is the seller on the asking price? Instead of throwing out a low-ball offer, find out how firm or flexible the seller is on the asking price. It also doesn’t hurt to ask if a seller is willing to help out with the closing costs.
3. Are there any problems with the house? Just as you may look under the hood of a car before buying it, it’s good to know about a house’s true condition before agreeing to buy it. Even if a seller had the house professionally inspected, hire an inspector of your own to rule out any potential issues.
4. Will the lender allow a short sale? In a short sale, a bank lets you buy the home for less than the remaining balance on an outstanding mortgage. Sometimes sellers list a property as a “short sale” without getting the lender’s permission first, so it doesn’t hurt to double-check the listing and the reason behind the short sale request.
5. Is there a neighborhood association? As you look at new homes in Portland and consider your personal budget, ask if a home of interest is part of a neighborhood or homeowners’ association. The fees related with such associations vary, but are an important expense to consider. In addition, an association may have rules that you don’t want to follow.
George Hale is the owner of H. Hudson Homes. H. Hudson Homes specializes in building new modern homes in the Portland, Oregon and surrounding areas with an emphasis on cutting-edge design and sustainability.