When selling your property to a home buying agent, you need to ask some questions to determine his seriousness, any obstacles that may get in the way of closing, and even the ability to buy. As a first tie house seller, the fear of uncertainty can be more. So, this article, we look at questions to ask a home buyer:
Typical questions to ask as home buyer
What type of contract do you have?
This question should be directed towards a potential home buying agent after approaching such an expert to buy your house. Ask whether his offer is based on a generic purchase contract or one that has been vetted by the state’s real estate department. The former is more thorough and covers all necessary points with regards to selling a house.
What is the source of your financing?
Is the buying agent a full company or a stand-alone company? Are they paying cash? If he is going to use the cash payment, then it is good to know how long it will take to process the payments. How much money do they have for a deposit? The more money they have in their accounts, the more seriousness the buyer shows. Are they willing to do a step deal and increase the deposit after all the contingencies have been met?
What is your preferred closing date?
If the closing date does not coincide with what you have in mind, you could negotiate one that is convenient for both of you. If you need longer to move, you can negotiate a lease for a short time. If the buyer hires a real estate agent to negotiate the buying for them, then you too can direct the questions to that direction.
How many homes have you bought my area in the past year?
You may not want to work with an agent who has very little or no knowledge of the properties in your area. They will probably provide inaccurate information, for instance, with regards to pricing. If the agent has a lot of experience in buying and selling luxury condos, family home, they may not understand the market your property is in.
How many clients are you currently handling?
If the real estate agent is handling a large number of clients, they will not give them enough attention. They may not notice some aspects of your property that make it unique for instance, thus call for a higher pricing, and may advise against your home.
The above questions to ask a buyer are very crucial when selling your house. Their responses will help you determine a buyer’s seriousness, buying capability and even point to any red flags.