Ready Buyers for Your Real
Estate Property
February 18th 2006
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Real Estate
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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.
By
Dion Smith
This article was written by Dion Smith of The Westside Group, offering
Brentwood California real estate and more. 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/
Contact Dion
Real Estate
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