We all know when you put that for sale sign in your yard that buyers come from all around the world. Some say “Hey, I have cash, can we close?!” Three weeks go by and they still haven’t closed on the deal. Being in the Real Estate field I can tell you this, they do NOT have the cash. Please open your check book and time how long it takes to write a check, I did an it took me around 12 seconds and that’s only because I am a little slow.
3 Questions you should ask buyers looking to buy your house
- Are you writing the check yourself or is it coming from someone else?
You want to ask this question so you do not end up packing all your items thinking that the buyer will close. You will sleep better knowing where your buyer is getting the cash from instead of blindly trusting someone.
2. How long will it take you to close?
If your buyer needs more then 2 weeks to close, something is going on. It shouldn’t be that hard. There are only a few options : Cash deal, financing deal from the bank, or they are borrowing cash from a private individual or company. When someone is loaning money on a house the lender wants to check that the house if worth loaning on. They also want to confirm the repairs and make sure they are not through the roof.
3. Can you show me other deals you have closed on?
The property owners I know are going to kill me, I’m telling to much! To be honest with you if you can’t be honest you shouldn’t be playing the game. I believe in building trust. Nothing builds trust other than providing truth. Sometimes when I meet with sellers I will bring previous deals that I have done in the past just to let them know you can trust me because other people have. Also ask for previous testimonials. You didn’t hear it from me.
I hope this has helped you make a more informed decision when dealing with buyers looking to buy your home.
Watch out for my new blog post coming out, I will be dropping simple but important knowledge bombs.