5 Signs of a Serious Home Buyer

Buying a home is a major life decision that requires careful planning and consideration. If you are selling your home in any market, it’s important to be able to identify serious home buyers so that you don’t waste time, money and effort preparing your home When a buyer makes you an offer, it is easy to get carried away thinking it’s going to close. However, some buyers are not serious and they might get cold feet prior to, or at closing. To help you gauge how interested a buyer is here are five signs of a serious home buyer:

1. They’re working with a realtor.

A serious home buyer will typically work with a realtor who can help them navigate the complex process of buying a home. A realtor can provide valuable advice on finding the right property, negotiating a fair price, and getting the financing they need. Additionally if a buyer is not working with a realtor, they may try to entice you by ‘not having to pay an agent’ however, they will then try to negotiate price, inspection items and concessions if you are not careful.

2. They’ve been pre-approved for a mortgage.

Getting pre-approved for a mortgage is an important step for any serious home buyer. This shows lenders that the buyer is qualified to borrow money and that they are serious about buying a home. If the lender working for the buyers calls your listing agent directly, this is also a good sign. Typically this shows how interested the buyer is and that they are in fact approved for a loan. Pro Tip: Try asking your listing agent if they received a pre-approval letter from the buyers agent.

3. They ask the right questions.

A serious home buyer will ask questions about the property, the neighborhood, and the buying process. They will also be interested in the seller’s motivation for selling. If the buyer starts asking deeper questions regarding the paint, roof age, foundation, appliance age, property taxes or even where you found a particular light fixture. This usually means they are picturing themselves in the home and accounting for future costs and maintenance.

4. They show genuine interest in your property.

A serious home buyer will take the time to learn about your property and ask questions about its features and amenities. They will also be interested in the neighborhood and the surrounding area. If you can, try to find out how much time the buyer spent in your home. This is typically a sign they are very interested. Additionally, if they schedule multiple showings to preview your home this is also a good sign! Pro Tip: Ask your listing agent if they can contact the listing agents of other listings in your neighborhood to see if they buyer have previewed their listings. If they have, this means they are particularly interested in this area or neighborhood.

5. They’re ready to move quickly and their current home is Under Contract.

A serious home buyer will be ready to move quickly once they find the right property. They will be prepared to make an offer and complete the necessary paperwork. If your buyer needs to sell their home in order to qualify to purchase yours, they will have their home on the market or under contract with their own buyer. Pro Tip: Find out if your buyers have their property under contract and what contingencies they have left to complete with their contract. If all contingencies have passed, this is a great sign and they are going to move fast!

If you need any help, my team and I are here for you. I have combined by expert negotiation skills with experience in dozens of transactions to help sellers like you sell their homes with ease and for the best price. Give me a call or send me a message for all of your real estate needs in Fort Collins and the Northern Colorado area.