Here are 20 questions every seller should ask about the buyer before accepting the buyer’s offer:
- Is the buyer’s loan approved in writing? If not, why?
- Does the buyer have a back-up lender?
- Is any of the buyer’s cash coming from a gift?
- Is the buyer’s down payment and closing costs money liquid and available?
- Will the buyer provide proof of funds?
- Does the buyer have any time constraints?
- Has the buyer read and approved the seller’s disclosures?
- What property inspections is the buyer going to order?
- Is the buyer flexible about closing and change of possession dates?
- What happens if the property does not appraise?
- Is the buyer willing to make up the difference?
- Does the buyer have to sell a home, or other real estate?
- Has the buyer bought a home before?
- How many homes has the buyer looked at?
- How many offers has the buyer made?
- Why did those offers fail?
- What does the buyer most want to change about his/her present housing situation?
- What does the buyer like most about my home?
- What will the buyer change on the property?
- Will the buyer entertain a counter offer?
Ask Your Agent to Get Answers to These 20 Questions
If you’re selling, ask your agent to get the answers to as many of these questions that the buyer or buyer’s agent is willing to answer. A top notch agent probably will have already done so.