Selling a property by the owner can be a heartbreaking experience. The owner-selling process is not easy, especially if you haven’t done it before. In today’s market it is more stressful than ever to sell a home quickly. Most FSBO home sellers have some degree of difficulty making their monthly mortgage payments. Even if you are very eager to sell your home quickly, you need to be careful. If you sign a sales contract with the wrong buyer, you will be in a worse situation than if you had done nothing. You don’t want to trust everyone who expresses an interest in your property for sale. In fact, it’s smarter not to trust anyone until they show they deserve to be trusted. It’s also smart to hire an attorney to go over everything and give you good advice on offer and sell contracts. If you are very aware of your buyer’s movements, you should be able to spot some danger signs before they become a problem.
Top 5 Warning Signs You Have an Untrusted Buyer Don’t trust a buyer:
- Who wants their home purchase to depend on the sale of their old home first?
- Who wants to make a very small deposit?
- Who wants you to finance your purchase so you don’t have to apply for a loan?
- Who Has Not Received Pre-Approval for a Home Loan
- Who includes many other contingencies in the sales contract that allow them to withdraw from the deal?
Selling your home quickly at a good price is your number one goal. Make sure you have your goal n. 2 to be careful of shady buyers so they don’t screw up the whole deal.