Is Your Buyer Serious?

Wanda Fears (804) 909-2777
The number one question that I get from a seller is "is our buyer serious"? Many transactions end up not coming through which can be frustrating for the seller of a property. It is my job to make these offers happen for my clients, so how do I weed out those who are serious buyers and those who aren't? 
Does your buyer have the necessary financial requirements to buy a home? Do they have a proper down payment and credit score? Even if your buyer has all the intentions of going through with a transaction, without the necessary finances the transaction is not likely to go through. Someone who is still "trying to figure it out", may never do so or take a long time getting the money together to put a bid on a house. Focus on those who are able to close within a reasonable time frame.
Time Frame
Have they been looking for a long time? A buyer who is not entirely serious and is shopping around will wait around a long time until they find the "perfect" match or the "perfect" deal. Someone who is genuine about buying will try to make a decision quickly and will invest his time and effort into making this happen. 
Is your buyer interested in what you have to say about the property and its surroundings, do they see the value and have positive things to say? Someone who is determined on purchasing will do their homework before they even attend a showing and will be able to maintain a conversation with the realtor or seller about the property. If someone acts clueless, this should be a red flag that they may just be shopping around. This shouldn't deflect you from presenting the property in the best possible light since you may be able to grab their attention. 
Is this an area that the buyer is interested in living? Are they relocating to the area or do they have existing ties with it? Asking on what they like about the area or what attracted them to it can answer many questions that will reveal on whether or not this will be a good match for them. If they have relatives, a pending job offer or see value in the local economy, they will more likely consider moving to the area more seriously. 
What other properties have they looked at? Are they close by? Finding out your buyer has been interested in the past can give you a glimpse into what they are looking for in the future. Make sure you find out what properties they like and see if those wants match what you have to offer.
Even though there is no full proof way to know what someone is thinking, these suggestions are a good starting point into knowing if someone is truly interested in making a purchase and if they are likely to do it from you. 

WandaFears, Realtor ABR CRS GRI WCR

Richmond, Va. Long and Foster Realtors




1 commentWanda Fears • July 19 2014 12:25PM
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