There’s a lot of work and preparation that comes with selling your home. When it comes to negotiating the sale, you’ll want to pre-qualify buyers to make sure they’re serious about their desire to purchase. Here are 5 must-ask questions while negotiating:
Are you currently working with a real estate agent?
Buyers who are working with a professional real estate agent have likely already completed the necessary legwork and paperwork. This, of course, is a major plus. But, keep in mind that you’ll also be expected to pay part of that real estate agent’s commission with a portion of your home’s sale price.
How long have you been looking at homes?
If the buyer has just started looking for a home, you may want to move on. Every situation is different, but there’s a good chance that people who have just begun their search are just window shopping. (Unless they’re just instant decision-makers!) If they’ve been looking for some time, then they’re more likely to make a commitment sooner. They’ve seen what’s out there and they’ve weight their options.
Have you already been pre-qualified by a lender?
Actually, this could be a question or a requirement.
For example, you may want to tell them, “If you’re interested in purchasing my home, I would like for you to become pre-qualified before you make an offer.” Lay this out for them and you’ll see just how serious the buyer is. You’ll also know whether the purchase is even probable and if they can afford your home.
If the buyer isn’t qualified, you’ll want to scratch them out of the equation. Last thing you want is to get involved in a lengthy legal process that ties up your sale, which could prevent you from showing your home to other would-be buyers.
Have you already sold your home, or do you still need to do so?
This is an extremely important question because it will give you a general timeframe for how long you have to move into a new home. If they are currently in the middle of selling their home, ask them whether their home is under contract.
Once you find the right house, when will you plan to move in?
Don’t be surprised if they can’t give you an immediate answer. There are so many variables that play into the home buying and selling process. That’s normal. But, if they avoid the question altogether, it’s likely a red flag and a sign that you’ll want to look at other options.
Are you you in the process of selling your house and looking for a new home? Let RedStone Mortgage assist you in finding loan options that meet your individual needs. Call us at 480-759-1500.