Tips to Help You Make the Best Decision for Your Sale

Selling your home can be an emotional and stressful experience. There are a lot of factors to consider, and it's important to make sure you're making the best decision for yourself and your family.

One of the most important things you can do to prepare for the sale of your home is to ask potential buyers the right questions. This will help you to get a better understanding of their needs and expectations, and it will also help you to avoid any surprises down the road.

Here are the top 5 questions to ask a buyer before selling your home:

1. What is their financing situation?

Prior do accepting an offer it is important to know about the buyers financial position. Do they need to sell their home in order to qualify to purchase yours? Is the buyer pre-qualified for a mortgage or are they a cash buyer? If they need to sell their home, find out what timeline they are on. This could significantly delay the selling process if they do not have their home on the market. If they will be securing a mortgage it is important to find out if they are pre-qualified or if their loan is through underwriting. When I receive and offer, I always call that buyers lender. This can help you get a better idea of the buyers financing position and the lenders capacity to communicate throughout the process.

2. What is their timeline and what are their contingencies?

If you need to sell your home quickly, you'll need to find a buyer who is also on a tight timeline. However, if you're more flexible with the closing date, you'll have more options to choose from. Contingencies can effect the timeline on the sale of your home. A contingency is a condition that must be met before the sale of a home can be finalized. Contingencies may also be referred to as a deadline within the contract. Common contingencies and deadlines include:

Inspection
Loan/Mortgage
Home Sale

3. What are their plans for the home?

Are the buyers planning to move in right away? Or are they planning to renovate the home? Understanding the buyers' plans will help you to determine if they're a good fit for your property.

4. What is their expected timeline?

When selling your house it is important to know what due diligence the buyer is wanting to perform and on what timeline. Do they need to sell their home? Are they going to perform a full inspection? What dates did they put in the contract for these deadlines? Dates and deadlines are nearly as important as financing when it comes to selling your house. Take a hard look at the deadlines and see how long your house could be off the market. If the buyers terminate, you risk valuable time during a busy selling season making it tough to find a new buyer for your home.

5. Did they read or sign the disclosures?

It is important to prepare all necessary disclosure documents before selling your home. This can save vital time in the selling process and even potentially eliminate some deadlines from the contract. Examples of disclosures include:

Sellers Property Disclosure
Radon
Lead Based Paint(depending on the age of the home)
Mold
Square Footage

Providing these disclosures and having them signed can eliminate after-the-fact negotiating since they are making their offer based on the information that has been provided. The buyers could not come back and ask for a new air conditioner when they knew the air conditioner was 15 years old and just had the fan replaced. Disclosures can eliminate future potential negotiations up front. Consult with your real estate professional before you list your home. It may be in your best interest to pre-inspect your home before you sell.

By asking these questions, you can get a better understanding of the buyer and their needs. This will help you to make an informed decision about whether or not to accept their offer.

Selling your home can be a big decision, but it can also be a rewarding one. By following these tips, you can make the process as smooth and successful as possible. If you need any questions or need a professional to help sell your home in Northern Colorado, my team at BRM Luxury homes and I are here to help you reach the closing table successfully!