Qualifying a Buyer
No one who is selling their home wants the added pressure and distractions that can occur by taking the time to show your home around to prospective buyers who just simply can not afford to buy your property. It is always a good idea to vet people who are interested in buying your home and doing this quickly can benefit yourself and the real estate agent, as well as reducing the time that your house stays on the market.
There are a multiple number of factors that can help you, and your real estate agent, decide if the person looking at your home is both genuinely interested and actually financially capable of meeting your asking price.
Is The Buyer Serious?
A good place to start when trying to determine whether or not the person looking around your house can actually buy the property, is by performing debt and credit history checks on the person, just as a bank may do when offering a loan. Performing this type of check can help you make an informed decision on the ability of the buyer to close the sale of your home. Looking at a buyer's current income and employment can also supplement the credit checks.
Downpayments
Another important consideration when deciding if a prospective buyer will be able to meet your asking price is to determine the cash position of the person, or persons, and whether they are in a position to immediately make any down payment on the house. The length of time it will take for the buyer to close the overall deal and how interested the buyer seems to be in your property, as apposed to others who have viewed it can also aid you in weeding out poor buyers.
