Hi. We're in Video Four. Video Four. I'm hoping you're enjoying the content so far. In this Video Four, I want to talk about open houses. 3 things to look for during open house visits is my fourth step in my video series “Buying a Chicago home”. There's going to be situations ... Hopefully by now we're working together, and there's going to be situations where either you're very busy or I may be assisting other clients, and there's an open house where I can advise you to go to and check it out on your own. That's a great way to kind of see a large amount of properties. They're on the weekends, so it's very convenient for many professionals. Watch my open house video below.
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I want you, when you're at the open houses, just don't go to the open houses and kind of do a quick walk. I want you to really focus on three factors, three things you need to look at. The three things, number one, before you even walk into the property, exterior condition. Just do a visual. My job when I'm doing a private showing with you is, that's my job to kind of look at those items. Just look at it superficially. If you see any type of deterioration, ask the showing agent who's hopefully the listing agent, not always the case, but ask them if they know the age of the building. If you do notice and deterioration, ask them when they did any projects be it roof work, parapet work, or any of the exterior type pointing ceiling of the building. I can explain that more when we hopefully meet, if we haven't met yet. That's one, exterior condition.
Two, interior condition. How's everything looking? How are the floors looking? Ask about the mechanicals. Not all old buildings or old units are bad. Some of them have been updated by the seller recently be it condenser, AC condenser, or the HVAC. So, make sure you ask. If it's a 20 year old building and all the mechanicals are 20 years old, that's going to raise a red flag. It doesn't necessarily mean that it's bad, but of course we need to kind of dive a little bit deeper in that. So, look, use your eyes, look around, look at the kitchen, ask if they appliances have been updated if you can't tell.
Three, ask about the financial viability of the association if you're looking at a condo. Ask them, "What are the reserves?" Again, if it's simply an open house agent, they may not have the information, but make sure either you hear a verbal from that open house agent that they will personally follow-up with you, or more likely in a better solution, is let me know. When you're kind of doing your priority list, let me know which properties you like and I will personally, of course, follow-up with that listing agent.
So, I hope you found those three factors beneficial when you're going to open houses on your own. Three things, exterior condition, interior condition, mechanicals, appliances, floors, and financial viability, asking about the reserves of the association. Happy searching. Any questions at all, 773-490-6151. Take care.