As a homeowner, selling your home can be quite an adventure. You have to fix up your property, advertise across different platforms, prepare for the open house, and meet different people who may or may not actually buy your home.
When your potential buyers finally arrive for a visit, you have to deal with their various personalities and agendas to find out which one is the best to sell to. To help you figure out which one to pick, here are the common types of buyers you will meet and what you need to know about them.
1) The All-Cash Buyer
The first type of buyer you will meet is the one who has no worries about finances. The all-cash buyer will seem a bit cocky, but that’s understandable. These are the types of buyers that can offer you instant money. They can even ask for a shorter escrow period in order to get you to sign quickly.
At first glance, it seems like the all-cash buyer is the best person to sell to, but it’s never that simple. The all-cash buyer will usually aim for an offer lower than your asking price, or ask for specific renovations that you need to do ASAP. For example, these types of buyers might ask you to have the floors fixed pronto or else they walk.
The promise of instant cash can be tempting, but remember that it’s best that you say no to the all-cash buyers if their demands are too much for you.
2) The On-a-Budget Buyer
The next type of buyer you’ll meet is the one with little available cash for a down payment. These types of buyers are usually the ones who will have to apply for loans in order to buy a property.
The downside of working with these buyers is that you will often end up waiting a while for them to get their finances in order. There are cases wherein their bank won’t cover the full amount of the down payment, so they ask for a carry-back loan. You might also need to shell out more for the closing costs.
The upside is that these buyers are more willing to accommodate your needs. They will often require fewer repairs, or agree to a later move-in date. If you are not in a hurry to get the cash, then you might be more comfortable transacting with on-a-budget buyers.
3) The Window Shopper
Now these types of buyers just love getting your hopes up. Window shoppers are those who love visiting all types of open houses and make lowball offers that they won’t follow up on. If you sense that you have potential buyers that are just there to look around, just don’t put in too much effort to entertain them. The reality is, they aren’t serious about purchasing a house.
Now that you know about the types of buyers you’ll meet when you sell your home, you have a better understanding of which one will best fit your needs. If none of these buyers seem to be the best fit, why not sell to trusted real estate investors like Blue Hen Homebuyers? All you have to do is contact us at 910-802-2222 or fill-up our simple web form, and we will get back to you with an offer in 24 hours.