Five Questions Sellers Might Be Asked...And Buyers Should Think About Asking

With changes that started in San Diego, CA late in 2004 and blossomed into other highly appreciated real estate markets, selling a home is becoming more difficult these days. As a seller, you may be asked some difficult questions that buyers in tighter markets may not have had the time or inclination to ask.

Here are five questions a seller should think about and be able to answer — just in case you're asked.

• Why are you selling this lovely home? The buyer wants to know just how desperate you are. ANSWER: we decided it's time to move.
• How much did you pay for this house? ANSWER: it's a matter of public record and your REALTOR should know.
• What defects does the home have and have there been any recent professional home inspections? ANSWER: you must be honest and this is why I recommend a pre-listing home inspection then either fix or disclose the findings (the buyer may have an inspection anyway so why waste valuable marketing time and get a suprise three weeks later).
• What problems have you had with this home? ANSWER: in most states, court decisions and statutes do not require home sellers to reveal past problems that have been corrected but if you believe it's in your best interest to disclose then do so but at least have the repair company's paperwork in your homebook.
• What is the quality of the public schools? ANSWER: your REALTOR should contact the school district and put this information in your homebook.

Hey you buyers out there, pay attention! This may help you gain some leverage for your offer.