When you're ready to put your property on the market, you want
to get the most qualified buyers to take notice. This is
especially the case if you have already purchased another
property or need to relocate within a short time span. Rather
than spending days bickering over a fair selling price or
financing terms, you may want to draw those who are ready to do
business, so you can finalize the deal as soon as possible. If
that's the case, here are some tips that can help to attract
those who are ready to sign on the dotted line.
1. Avoid contingency offers. These buyers have a property of
their own to sell, and may not even have any firm purchase
offers they are negotiating. If you sign a contract with this
type of buyer, the sale of your property might not be final
until their property sells. In effect, you are taking
responsibility for the sale of two properties, not just one. In
some cases, a buyer may not be required to sell his or her
property first, but then may back out from buying your property
if they begin to worry about meeting two monthly mortgage
payments. A contingency offer may work well in some cases, but
is usually not the best way to go if you are in a hurry.
2. Be careful with first-time homebuyers. Although many first
time homebuyers often are ready to put together a purchase deal
for your property, some are ill equipped to carry out a speedy
purchase. They may have overlooked some of the usual purchase
terms simply because they are new to the process. Depending on
the real estate agent who represents them, or their advance
preparation to buy a property, they may have everything lined up
and ready to go, including a review of their credit history and
a careful budget assessment to see what type of mortgage payment
they can afford.
3. Screen potential buyers. When your agent hosts an open house,
see if he or she can find out those who have been pre-approved.
Interested buyers can be encouraged to get pre-approved if they
are not already. Sorting ready from tentative buyers will let
you focus on those who are in a position to buy rather than
merely being ready to start the pre-approval process. Ideally,
the buyers should know how much house they can afford, what type
of monthly payment will fit with their budget, and whether their
credit history will support the purchase of real estate at this
point.
Taking steps like these can prepare your property for a ready
sale and reduce the risk of unexpected delays.
About the author:
This article was written by Dion Smith of The Westside Group,
offering top-notch real estate services in California. The
Westside Group also provides a wealth of free resources for any
home buyer or seller. Contact us today to receive your FREE
HomeBuyer or HomeSeller Handbooks. Reproductions of this article
are encouraged but must include a link back to
http://www.westsidegroup.com/
