How to Know if Your Potential Buyer is Serious

How to know if your potential buyer is serious

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Every person who visits a property that is for sale will not necessarily make an offer. It can be very frustrating to show people around a home and then not have any further inquiries, but that part of the selling process is normal – it’s important to keep that in mind and not get hung up on the waiting game.

Here are a few tips on how to know if your potential buyer is serious. When they call to request an appointment to see your property, ask the following questions:

Does my property meet their needs?

Before you invite someone to come in and see your home, ask them whether they’ve thoroughly reviewed the details of your listing. Find out if the main points, such as possible appliance inclusions, the number of rooms and floors, and the square footage, are all in line with what the potential buyer is in search of. You can even go as far as asking about closing dates to ensure you’re both on the same “schedule.”

Do they have the means to buy the house?

If you’re trying to figure out how to know if your potential buyer is serious, prior to accepting visitors into your home, make certain that those purchasers have already been pre-approved for the value of your property.

This could be in the form of a confirmation from their lending institution stating that they have been accepted to receive a mortgage. A truly serious buyer will have already begun this process of obtaining financing.

It should be noted, though, that a potential buyer who hasn’t been pre-approved doesn’t necessarily mean they won’t be accepted should they want to make an offer.

A third question a seller may ask is, am I able to refuse a visit? The short answer is yes, you can. But be careful – refusing a visit could mean a lost opportunity for a sale. However, if you find that home visits are taking too much of your time or if you feel as though you are not getting enough serious buyers to come to your property, perhaps it is time to schedule an open house.

You can see a much larger number of people in a shorter amount of time, and you can really assess (or reassess) who your possible purchasers are so that you can familiarize yourself on how to know if your potential buyer is serious.

Selling a property is a process – it’s not something that just happens overnight. Depending on the market in your area and your asking price as well as listing details, it can also take time deciphering how to know if your potential buyer is serious.

The main rule of thumb is to be proactive rather than reactive – ask the right questions before a home visit and see how much more successful those home visits quickly become.

If you’re ready to buy or sell a home, visit today.

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