Given that the world is going through a bit of a rough patch at the moment, you’d be forgiven for thinking that the housing market is also going through a bit of a slump. You might be thinking that now would be a terrible time to sell your property, however, you would be wrong as more people seem to be buying property in the United States now than had been predicted which is great news if you are hoping to sell your house.
As we all know, the process of buying a house is considered by many to be one of the most stressful events in your adult life. In the process of selling a house, many important factors should not be overlooked including some beneficial qualities that you should look for in buyers.
To help out homeowners looking to sell their property, here are four important qualities to look for in property buyers that will make the process smoother and less stressful.
1. Your Buyer Is Pre-Approved
We all know the pain and worry of being stuck in a property chain and waiting for your potential buyer to have their mortgage approved before they can sign on the dotted line. The process for pre-approval differs from state to state but for home buyers in Phoenix, Arizona the process involves making an appointment with your mortgage lender to fill out and submit all the necessary forms and information. Typically, once all the documents are submitted it takes 1-2 days to receive a signed pre-approval letter from a mortgage lender.
When it comes to selling your property, check with prospective buyers just how far along they are in their mortgage approval process. Knowing that their finances have been pre-approved assuring you that they are serious about their offer, that they are reliable, and, perhaps most importantly, that they are capable of completing the process quickly and with much-reduced stress. Having this knowledge can be crucial in making your transaction smooth and straightforward.
2. Your Buyer Knows What They Want
When you’re going through the process of marketing your property it is important that your listing clearly states what it is that the buyer is getting. If your house has three bedrooms and two bathrooms, buyers want to know. But let’s look at this from the other side, it is equally important to know what the buyer wants.
A buyer with a clear set of wants and desires in a new home will be much easier to deal with. It will drastically reduce time wasted showing the property to buyers who don’t know what they want. Is the buyer looking for a great location? Public transport links? A big garden?
Knowing this in advance is going to make it that much easier for you to market your home and ultimately it will save you time and energy. Ask your real estate agent what buyers want and you can market your property accordingly.
It’s also worth considering the buyer’s attitude when they come to view the property. When you show them your home, notice if they are enthusiastic or are they just going through the motions. See how couples interact with one another, it could be that one is more interested than the other. This may indicate hesitation in making an offer or even a potential withdrawal of that offer.
Body language and facial expressions may seem a small thing but they could maybe tell you more about the buyer’s feelings than they’d be willing to say directly.
3. Experience Buying or Selling Property
It is safe to assume that as you are selling your house, you’ve probably been in the position of a buyer before. Perhaps more than once. Now, we all know that it’s not always without its difficulties or unexpected speed bumps but does your buyer know that?
Check if your potential buyer has experience in the property market. Have they bought or sold a house before or maybe they have rented for several years. Knowing the buyer’s level of experience can go a long way in reassuring you that you’re dealing with someone that can reliably and swiftly resolve any issues, whether legal or financial, that might crop up during the process.
There can be nothing more frustrating than waiting for an inexperienced buyer to resolve an issue that more experienced buyers would have known how to avoid.
On the other hand, it’s worth enquiring as to how long they have been house hunting. If a buyer has already viewed several other properties they are probably less likely to be placing an offer as they don’t know what they want or are searching for that elusive ‘perfect’ property.
4. Curiosity During Viewings
When a buyer is viewing your property, take note of how many questions they are asking. The more curious they appear and the type of questions they ask can be a solid indicator of how serious they are about your property. Look out for questions about local schools and other amenities, about the neighbors and the general area. If the buyer demonstrates interest in the area and the property we can assume that your home is already ticking some required boxes.
Conversely, a person who walks quietly around your home and shows little to no interest in the place and the surrounding area has probably done very little research and has likely only glanced at the listing. Maybe this buyer is seeing things for the first time and is gauging ideas of what options are out there rather than coming in as a serious potential buyer.
We all know that the property market can be a daunting experience for both buyers and sellers. It can be fraught with uncertainty and disappointment, but these 4 tips could help you to have an easier time selling your property.
Remembering to be aware of who is visiting your home and how they behave and communicate while there will help you to filter through the time wasters and the unprepared. Try not to assume that every person is going to place an acceptable offer – or any at all. There can be nothing worse than getting your hopes up only to be disappointed later.
But also remember that your house will sell! Someone out there will be the perfect match for the home that you have so lovingly created over the years. So be positive, be confident and be ready for the future because it could knock on your door tomorrow.