For Sale By Owner? How to Recognize a Serious Buyer
Selling your home yourself means you have to actively look for potential buyers and communicate with them. You’ll have to answer to phone calls and emails to provide more details about the home.
Interacting with potential buyers can seem like a waste a time, but it’s important to be available and helpful so that you don’t miss out on making the sale.
Learn to recognize a buyer who is genuinely interested and ready to make a serious offer.
Ask these few simple questions to get a better idea of what the buyer is after and how serious they are:
1. Find out how long they’ve been looking for a property. Someone who is just getting started might not be ready to make an offer while someone who has been looking for two or three months should have a good idea of what they want.
2. Ask how many homes they’ve already looked at. A higher number often shows they are seriously looking and have some specific criteria in mind.
3. Ask if they’ve made any offers on another property. This is a sign that they have figured out their finances and will make an offer if your home corresponds to what they want.
4. Find out more about their finances. A serious buyer knows what price range they can afford and may be pre-approved for financing. A potential buyer with a letter from their bank is definitely serious.
You can usually tell if a potential buyer is serious or not by the questions they ask. Someone who knows what they are looking for may ask about the layout of the home of the home, might want to see more pictures, or ask for a plan.
They will also ask about recent repairs and upgrades. They might have some specific questions that show they’re planning on making some renovations or changes after moving in. Any questions that show that they are imagining themselves living in your home are good signs.
Schedule a showing or invite buyers who seem interested to an open house. Someone who is serious will be flexible and sound excited about seeing your home. Pay attention to their behavior while they visit your home. A serious buyer will ask about practical things and pay attention to details.
Making an offer doesn’t always mean that a buyer is serious. A serious buyer understands that they need to make a reasonable offer so that you will consider it. If the bid is too low, you might be dealing with someone who is not quite ready to buy.
You can tell if a buyer is serious or not by the questions they ask, their behavior, and if they are eager to see the property. A serious buyer should also have their finances in order and will make an offer shortly after seeing your property if they decide that it corresponds to what they want.
Although it can be an emotional experience, selling your home can also be exciting. Keep your mind on your end goals and your path of moving forward, and the kinks will work themselves out.
Remember: when you are ready to complete the seller documents, you can choose the Loan Signing Agent! Make sure you ask for Papermill Notary Services if in Northern NJ, or research other agencies in your area.