Why You Should Understand Your Buyer’s Position before Agreeing a Deal 

It’s an exciting moment when a buyer puts a good offer on the table.

After all your hard work to prepare your home for sale, it feels like everything is finally falling into place.

But before you agree a price in a rush of giddy delight, it’s important to ask a few questions – especially if more than one buyer is interested.

This is because you need to understand a buyer’s position to evaluate how good an offer really is.

While price is obviously a massive factor in deciding who you sell to, it’s not the only issue to consider.

Your goal is to turn a good offer into a completed sale, so you need to know the full story.

Here are some issues to consider before accepting an offer.

When is a good offer not the best offer…

Finances

Can the buyer demonstrate how they’ll fund the purchase? Do they have proof of deposit and a mortgage deal in place? Or are they a cash buyer?

Unfortunately, some buyers get carried away and make promises they can’t keep. Others jump the gun and talk about money before doing their sums or speaking to lenders and, as a result, overestimate their budget. At Liberty Blue, evidence of proof of funds is required for your home to go sale agreed.

Timescale

A successful sale is like putting together a jigsaw puzzle; you need to get all the pieces in place.

If the potential buyer needs to sell before purchasing your property then knowing what timescale they are working to is critical.

Alternatively, if your buyer is desperate for a speedy deal and you’re selling a probate property, you may be working to conflicting timescales.

Motivation

Knowing why your buyer is moving will help you assess if they mean business. For example, are they moving to be closer to good schools, family or work? It’s also worth gauging how long they’ve been property hunting and how well they know the local area.

If a buyer has yet to list their own property, sort their finances or instruct a solicitor, there’s a good chance they like the idea of moving more than the reality of it.

Here at Liberty Blue Estate Agents and Auctioneers, we can take some of the stress and uncertainty out of selling your home.

We’re here to help – contact us today.