In home selling, finding the right buyer can make a world of difference. It can actually determine whether or not you can sell fast and without any hassle. Here’s a short guide on how to identify the right buyer for your home.
Know the state of the market
Studying the climate of the market you are in can point you towards finding ideal home buyers. In understanding current trends and movements, you’ll be better prepared in planning your next moves in your home-selling endeavor.
Consider this example. At present, homes placed in the market don’t stay in it for more than a month. Research by the National Association of Realtors states that for every 10 new listings, there were 10 new contract signings in January 2021.
In this seller’s market, studying your options among multiple offers and moving fast is key. To do so, set clear-cut criteria that will lead you to the ideal buyer with the strongest offer.
Broaden your buyer pool
Having a specific picture of the ideal buyer who meets all your expectations helps, but you also have to cast a wide net.
In broadening the buyer pool, you not only give yourself more options, but you also avoid discriminating based on race, nationality, gender, disability, family status, or other parameters.
For instance, a buyer with a growing family will be attracted to a house with additional bedrooms. Alternatively, a young couple could also be interested in the same property, but with other plans for the extra rooms — perhaps converting one of them into a home office or an indoor gym. Both are equally eligible to bid for the said house.
Scrutinize what buyers submit to you
A well-prepared homebuyer can be a seller’s dream.
A buyer who manages to have themselves subjected to pre-approval from a lender will have an edge over those who haven’t secured it yet. A pre-approval translates to reliability that the buyer has the finances to pay their monthly mortgage obligations. That means this person is closer to securing a mortgage faster than the rest.
Look out for a buyer who is willing to cover most of the closing costs, even the ones on your end. That’s someone whose offer is one you’ll also want to consider.
Carefully review pitches made by these buyers. A haphazardly written contract or a low-ball offer generally does not bode well.
Work with a real estate agent
If your home for sale is in Charlotte, expert Realtors with substantial knowledge of your area can guide you in threshing out the serious ones from the pool of interested buyers. They can help in formulating the right questions to ask that will vet committed buyers from those who are not. Having taken part in numerous negotiations in the past, experienced agents will be able to see through a buyer’s true intentions for wanting to buy your home and the contingencies they’re willing to shoulder.
To help you find your ideal homebuyer, we recommend you to meet with the team behind Valarie R. Brooks Real Estate. We have in-depth knowledge of some of the most livable neighborhoods in North Carolina, including Charlotte, Ballantyne, and Highland Creek.