Qualifications Home Buyers Should Look For

When you’re selling your home, you should be on the lookout for home-buyer qualifications in potential purchasers of your house.  When you are sure that a buyer is well qualified, it helps to prevent you from taking an offer that does not pan out, and losing precious time to find a well qualified, serious buyer.

You can make sure that potential buyers do have the qualifications, but many people don’t know how to ask for this information.  In many cases, a real estate agent will do the asking for the seller because it’s considered private information that many buyers don’t want the sellers to know about.

In the case of an agent

Typically, real estate agents will look for home-buyer qualifications, and it is not up to the seller to have to look for this type of proof.  Since many real estate agents also work with mortgage specialists, it is extremely rare that an agent will take an unapproved, or unqualified buyer to visit your house.

Not only that, but your selling agent is going to verify all of the essential pre-approval information before even accepting an offer, so you don’t have to worry about buyers that are just guessing that they will get financed.

When selling on your own

While you cannot ask for pre-approval information of potential buyers before they choose to tour your home, you can be there when the buyers are there to make sure that they stay in the same room with you.  It’s not until they decide to place an offer on your property, at which time, you can tell them that you only entertain serious offers, and you will need to verify their pre-approval before continuing.

At first, it might seem uncomfortable to have to ask for this information, but it’s the only way to ensure that you will be able to seal the deal when the time comes, and it will help you to avoid wasting precious time on worthless deals.

Ultimately, the only way to ensure that a buyer will be able to buy your home is to make sure that they will have the home-buyer qualifications to get the financing necessary to purchase your home.  A real estate agent knows where a buyer stands financially, and even if you’re selling your home on your own, you have the right to ask.