Going to open houses as a homebuyer can be fun. You get to look at homes you’d like to potentially buy, imagining how you’ll live there and where your things will go.
You can speak with the real estate agent monitoring the open house to find out more about the property and the price, but there are some things you don’t want to say. After all, the agent is paid to represent the interests of the seller and not yours.
Here are some things you don’t want to say to a seller’s agent:
You Love the House
This seems like a natural and polite thing to say at an open house, but your outward love could prevent the current owners from lowering their price. Their agent may try to get you to pay more than the asking price because you’ve already shown how much you love the house.
You Need to Move Soon
Desperation to find a home because you’re starting a new job in the area or your lease ends soon can give the seller’s agent a reason to raise the price.
Revealing Your Budget
Don’t let on that the home’s listing price is under your budget—either by a specific amount or just in general. This could hurt you in negotiations if the sellers know you can afford to spend more.
Admitting to a seller’s agent that you have a low credit score, high debt or a past bankruptcy can lead the sellers to thinking you have enough financial problems to prevent you from qualifying for a mortgage. This can end serious negotiations quickly. Keep such problems to yourself and work with your agent and loan provider to overcome them.
If you recently got a new job, are expecting a child, have a parent moving in with you or have another personal issue that hints at an immediate need to buy a home, leave the information to yourself or only tell your agent. Your personal life should remain just that—personal—and shouldn’t be used against you to get a higher asking price on a home.