Choosing a Reliable Homebuyer

When it comes to selecting a buyer for your house, most people want to choose the buyer who presents the highest offer. You may think that because they are the highest bidder that they are reliable and have the resources available to get the transaction done. But this isn’t always true. There are many sellers out there that thought they had found the ideal buyer for their home but when the closing date approached the buyer backed  out.

Here’s what to look for when selecting a buyer to work with:
1. Has the buyer told you where their offices are located? Set up an appointment to meet them at their office. You need to make sure that they have a permanent office where you can reach them at anytime.
2. Do they have a staff? If they are a well-established company they will have experienced staff who will be able to guide you through the selling process and will be available to answer all your questions.
3. How will they finance the purchase? A reliable company will have an available line of credit to buy your house.  If they are serious about buying your house they will provide an earnest money deposit of at least $1,000.
4. Have you read the contract carefully? Take your time. Selling your property is one of the most important decisions in your life. Don’t let the buyer pressure you. If you need more time to go over the contract demand it. Look for the weasel clauses that are the big “outs” that nobody sees. These “outs” allow shady buyers to back out of the contract up until the last moment.