Seller’s Guide to Choosing a Homebuyer

When you’re on the hunt for a new home, it’s natural to create a check-list of what you’re looking for. But what about when you’re the seller? Have you thought about what kind of buyer you need? You should also have a list of what your ideal buyer looks like. We’ve created a seller’s guide for finding the right homebuyer. Is a first time buyer right for you? Should you advertise to families? What are the red flags to keep an eye out for. Read on to learn more about what it means to find a homebuyer who can not only pay your desired price, but allow for a seamless transaction.

Be wary of buyers who are not confident about funding

The best buyer is pre-approved from a lender. They know exactly how much they can spend and are assured that their lender will come through. Buyers who want to put in an offer and then seek approval from a lender could not only prolong the sale process, but cause escrow to fall through. Talk to your agent about prioritizing potential buyers who have pre-approval from a bank or who are able to pay cash for your property.

Target people with a similar lifestyle

Have a ranch style with older cabinetry but a great yard? You may want to seek a buyer who also cares more about outdoor space than turnkey modern upgrades. In other words, if you have the perfect house for a family with young kids, you don’t want to target young professionals buying their first place (but don’t shut the door in their face either). Remain open to any buyer, but keep in mind that you may want to highlight features honestly so you can attract people who will love the parts of the home you do — instead of seeing it as a “project,” which will cause them to offer you a low offer.

Avoid long lists of contingencies

Some buyers only want to close if certain conditions are met. They may need to sell another property first, request certain maintenance fixes, or want approval on an inspection. Many of these are standard, and certainly not a red flag. However, if a buyer is requesting a long list of contingencies — it may be less likely that the sale will successfully close. Especially if the seller is being very picky about you fixing things in the home prior to closing.

Look for motivated buyers

Someone who would like a second home to rent out but isn’t in a rush might be a good buyer — but someone who raves about the neighborhood and seems enthusiastic about closing fast is better. If your top priority is closing fast, you might want to consider having potential buyers submit a letter for you to read. This can help you understand the motivation of the buyers and accept an offer from the one you think is the most serious about closing on your specific property.

Evaluate the buyer’s agent or broker

Someone trying to buy your home without the help of an agent could lead to headaches really fast. Likewise, working with a green agent could go well, or it could go south. If you’re fielding multiple offers, ask your agent if they have worked with any of the buyers’ agents before. Expediting the sale process could be as simple as working with a Realtor who is experienced handling transactions in your neighborhood and with the lender in question.

Does this seller’s guide have you thinking? Maybe you don’t want to deal with any of this. California Family Homebuyers pays cash for homes across Sacramento. We can close as soon as a week and there is no escrow to deal with. If selling fast is more important that creating a bidding war, give us a call!

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