Any serious buyer can provide you with evidence of their capability of buying your home. Even a cash buyer can deliver verification through a financial advisor, accountant, or bank. If you have made contact with a lender to help in your Open House and to provide information sheets for potential buyers it is a simple task for them to pre approve the buyer for you. The lender can also help you match the buyer with the best programs available for them.
Don’t be afraid of a low down payment if the buyers can evidence pre approval from a bank. As long as the total purchase price is guaranteed, it doesn’t matter where it comes from. More and more borrowers are getting their loans on-line. If the buyer of your home is using an on-line lender make certain you have some preliminary assurance from the lender and hold fast to the commitment letter date.
Don’t be shy about asking about asking qualifying questions. Capable buyers will answer your questions honestly. Be cautious of buyers who hedge or give vague answers. Why waste time with buyers who fall in love with your home and then can’t afford to buy it?
Find out if they need to sell their present home before they can buy. If so, is it on the market now and how many offers have they gotten. If they are already working with a lender ask for the lender’s name and phone. If not, offer to hook them up with a lender with whom you have established a relationship. Ask for an initial deposit to accompany the offer and second deposit to follow ten days later or when a final Purchase and Sale Agreement is signed.