A good buyer isn’t necessarily the one that gives you the most compliments about your house and seems most interested. A good buyer is one that will come through with a loan when it comes time to close the deal.
Sell Your House Fast – Watauga TX: When you are selling your home, you want to sell to someone who will appreciate the little things you’ve done over the years to improve the condition of the house. Features you’ve added like a new patio, a basement recreation room, or an additional full bath should indeed be recognized and a good buyer will be willing to pay something for the extra features.
A good buyer will also give you a fair price for your house. The current market value trends have taken their toll on the final prices that are being paid for homes that would have received much more money at another time.
A good buyer will also give you a fair price for your house. The current market value trends have taken their toll on the final prices that are being paid for homes that would have received much more money at another time. Finding the right buyer is getting to be more complicated since the banks have become much tighter with their loans and require better credit scores of their borrowers.
What does all of this mean to you as a seller? The tighter loan situation can mean that even if you find a great buyer who agrees to give you a decent price for your house, the deal can fall through due to the buyer’s inability to find a mortgage loan. The worst part about these deals that fall through for this reason is that you won’t know that they don’t qualify until the last minute, usually right before closing.
- Finding the right buyer is getting to be more complicated since the banks have become much tighter with their loans and require better credit scores of their borrowers.
- A bit of due diligence and planning on your part can be helpful in avoiding some of these more common problems when it comes to qualified buyers.
- Ask for a pre-qualification letter when someone makes an offer on the house.
You have most likely found another place to live or another house to buy by this point, throwing into motion a chain reaction of events that could easily leave you in the lurch. How can you avoid this situation and find a terrific buyer who will be able to follow through with the purchase? A bit of due diligence and planning on your part can be helpful in avoiding some of these more common problems when it comes to qualified buyers.
There is an easy way to find out whether your interested buyers are going to be eligible for loans from their banks. Ask for a pre-qualification letter when someone makes an offer on the house. This will mean that the bank has given a loan amount that is likely to be granted to the buyer based on his or her income level calculated against debt liabilities and living expenses. When you know that the buyer has already spoken to the lender and the lender gives them a letter, there is a very good chance that the deal will happen as planned.
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Real estate Investor, Broker, and private money expert. Adventurer that lives life to the fullest. John is also the author of Attracting Private Money Lenders & 17 Vital Keys To Creating Wealth While Building A Profitable Real Estate Investment Business.
Attracting Private Money Lenders: And 17 Vital Keys To Creating Wealth While Building A Profitable Real Estate Investment