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Attract Ready Buyers for Your Real Estate Property |
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Written by Dion Smith
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Monday, 13 November 2006 |
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Word Count: 498 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.
This article was written by Dion Smith of The Westside Group, offering top-notch
real estate services in California. 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
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