Questions to ask before you make an offer

You found a house you love. Before you write an offer, slow down for an hour and get answers to the questions below. Most are easy to ask your agent, the listing, the seller's disclosure or the county records. The answers shape your price, your terms and whether this is really the one.

About the house

1. How old are the roof, the HVAC system and the water heater? These are some of the biggest near-term costs in any house.
2. Has there been any foundation work? If so, ask for the paperwork and whether any warranty transfers to you.
3. Any history of water getting in? Leaks, flooding, drainage problems or past insurance claims.
4. What does the seller's disclosure say? Read the whole thing, and ask about anything vague.
5. Is it on city water and sewer, or a well and septic? When was the septic last pumped or inspected?
6. What's been updated, and was it permitted? Additions and major electrical or plumbing work are worth asking about.

About the location

1. Which school district serves this exact address? Confirm it with the district, not just the listing.
2. Is it inside city limits? That affects taxes, utilities, trash and local rules.
3. What's the flood zone? Check the FEMA map and ask the neighbors what happens in a heavy rain.
4. Is there an HOA or deed restrictions? Get the rules and the dues before you offer.
5. What's nearby that you can't see from the listing? Rail lines, highways, future construction, a busy church parking lot on Sundays. Drive by at different times.

About the cost

1. What are the current property taxes, and which taxing units apply? Look it up on the appraisal district site. The seller's exemptions (like a homestead or over-65 exemption) don't carry over to you in future years, so your bill may differ from what the seller paid.
2. What will insurance cost? Get a quote before your option period ends. Roof age and location can change it a lot.
3. What do utilities usually run? Some sellers will share recent bills.
4. What will you need to fix or replace in the first year? Budget for it now.
5. Does your lender's estimate still fit at this price? Ask your lender to update your numbers for this specific house before you offer.

About the deal

1. How long has it been on the market, and have there been price changes?
2. Are there other offers? Your agent can sometimes find out.
3. What matters most to the seller? A quick close, a later move-out, a clean offer with few requests? Sometimes terms matter as much as price.
4. How long of an option period do you need? Make sure it's enough time to schedule every inspection you want.
5. How much earnest money is customary here? Your agent can explain how it's handled and when it's at risk.
6. What will you ask the seller to cover? Repairs, closing costs or nothing at all, depending on the market and the house.

One more question, for yourself

If this house needed one surprise repair in the first year, would you still be okay? If the answer is yes, you're probably shopping in a healthy range. If it makes you nervous, it's worth another look at the budget.

Want help running the numbers on a specific Longview house before you offer? Reach out to KT. He's been helping East Texas buyers since 2003.

General information for Longview-area readers, not financial, legal or tax advice. Every situation is different; talk with a licensed professional about yours.