4 Ways to Recognize a Serious Home Buyer

June 28, 2022

So you’ve found a real estate agent, placed your house on the market, and are ready to sell. Now all you have to do is to locate a willing buyer. Potential buyers may be interested in your home, but you don’t know for sure. Even though many “house searchers” aren’t afraid to dip their toes in the real estate pool, only a select number are willing to make a significant financial commitment. And sometimes, it’s extremely difficult to recognize a serious home buyer because many will be looking at your property. However, there are a number of indicators that might assist you in determining the interest and intent of a potential homebuyer. If a buyer is serious about purchasing your house, they will check one or all of these four indicators.

1. They’re working with a realtor

It’s a well-known fact that engaging with an expert increases the chances of a successful purchase. Buying without a realtor indicates that the buyer isn’t serious about the transaction. When it comes to acquiring a property, the National Association of Realtors (NAR) found that 87% of buyers utilized the assistance of an agent or broker.

2. They have financing in place

Mortgage pre-approval is a good indicator of a buyer’s seriousness. This indicates that the buyer has already completed their financial planning and is ready to finalize their mortgage. In order to get a home loan, a buyer needs a pre-approval letter from a lender saying they’re clear for a specific amount. In open houses and showings, the buyer does not need to have their pre-approval letter with them, but they must attach it to their offer letter.

However, this isn’t the only financial planning involved. You can tell that the buyer is serious if they have plans to move after the deal. If they are organizing a long-distance move within CA, advise them that local companies offer easy transfer across the state and storage options.

3. They’re selling

Your realtor may be able to ask all kinds of questions while showing potential purchasers your home. One of these is if they’re currently selling their own home. As a result of the additional financial stress of having an empty home, buyers may be more inclined to pay the asking price for the property. Buying your house isn’t a given, but it’s a solid sign that they want or need to move out of their existing residence as soon as possible.

4. The family comes to look

The entire family is frequently present when a home is being seen by a serious buyer. It’s extremely uncommon to see a serious buyer with a family visit to view the property alone. The whole family together allows them to imagine their future in the house you’re selling. This is important because it’s a way to ensure everyone is happy and there isn’t any buyer’s remorse. If an entire family is present at the house showing, that’s a great way to recognize a serious home buyer!