If you’re a first-time buyer or haven’t bought a property in a while, you might not be familiar with the Open Houses concept.
Essentially, Open Houses are a chance to view property in the company of other buyers, with the agent and often the owner also present. From the agent and owner’s point of view, Open Houses are a chance to create a buzz and maximise the likelihood of a sale. From the buyer’s perspective, they make for a more relaxed, often more thorough, viewing and give you the opportunity to compare notes with fellow viewers, who may also ask questions you hadn’t thought of. And of course, there’s nothing like interest from a potential rival to concentrate the mind.
An added advantage for buyers is that Open Houses are generally held at the weekend, which dispels the need to take time off work in order to view a property in daylight or to be rushed around in the evening before the vendor’s children go to bed.
Open Houses are not, as the name might suggest, a free-for-all. Viewers still have to make an appointment to attend and you will be asked for feedback after your visit. If there are several Open Houses on the same day in the area, so much the better as you will be able to compare like with like to get a more balanced view.
Study the property details before you attend an Open Houses event so that you can prepare your questions about the property and check out the local schools, transport, and so on. If you are given a time slot, make sure you stick to it.
If you decide to make an offer, wait until you get home then give the agent a call. This will give you the chance to properly reflect upon whether this really is the property for you, at a price you can afford.
Savills Cotswolds and Surrey Open Houses events take place on Saturday, 23 September 2017, from 10am-4pm. The events will include more than 150 available properties, giving buyers the chance to tick off all the properties on their list in any given area in one go. More details from Cotwolds Open Houses and Surrey Open Houses.