Your Buyers Really Aren’t Serious If They …
DAILY REAL ESTATE NEWS | THURSDAY, SEPTEMBER 29, 2016
Some buyers may gush over a home, but then an offer is never made. How do you know when a buyer is really serious about wanting to buy a house or just in a perpetual looking phase of a house hunt?
Read more: 4 Buyers You Want to Run Away From
Real estate professionals chimed in at a recent article at realtor.com® on how to tell the difference between a serious a buyer and one who is not. Here are a few signs.
The buyer just started looking.
Usually, home buyers take three months to find a home to purchase. “Many buyers look at a number of houses before they decide what they want,” says Daniel Bortz, a real estate professional in Maryland, Va., and Washington, D.C. “And if they’re at the early stages in their search, you’re less likely to receive an offer.”
The buyer is at an open house.
A buyer isn’t likely to make an offer at an open house, according to real estate professionals. Only half of buyers even visit open houses, according to a survey by the National Association of REALTORS®. More serious home buyers tend to request a private showing of the home.
The buyer doesn’t have a pre-approval from a lender.
“You need to include a pre-approval letter from your lender when you submit an offer on a property,” says Bortz. “Without one, there’s no indication to the seller that you can actually afford to purchase the home.”
The buyer rushes through the home.
“Rushing through an open house is a definite sign of lack of interest,” says Abigail Harris, a sales associate with Coldwell Banker residential brokerage in the Boston area. But don’t take their lack of questions as necessarily a bad sign. “Many buyers feel that they have all the answers and don’t need to ask questions,” Harris says.
The buyer can’t stop nitpicking.
The buyer seems obsessed with finding faults and problems with the home. “That’s a definite showing of disinterest,” says Harris. Indeed, “if she has a home inspection contingency and wants you to fix every single little thing that the inspector spots, such as a loose door knob, she might be looking for you to just give in and say, ‘No, I’m not fixing anything,’ so that she can back out of the deal,” Bortz adds.
Source: “8 Signs a Home Buyer Isn’t Serious,” realtor.com®/Century 21 (Sept. 27, 2016)