Selling a house tends to be a lengthy process, especially if you are struggling to find serious buyers or a sale has fallen through. Therefore, it’s crucial to know how to find property buyers who are serious about purchasing your property.
Every year, more than a third of house sales fall through. While the reasons can vary somewhat, one thing lost house sales have in common is that they can be a truly heartbreaking situation for you as the seller. Not only does it delay the entire process until you find a new buyer, but the break in the property chain could mean you miss out on the new home you have your eye on. It’s for these reasons it’s essential to do everything you can to seek out people who are unlikely to let you down.
In this post, we’ll teach you how to find property buyers who are serious about buying and avoiding those who aren’t.
Use an Experienced and Knowledgeable Estate Agent
This may seem like an obvious piece of advice, but it’s something that will prove to be vital when it comes to selling your current property and knowing how to find property buyers in the future. An experienced estate agent will have sold homes to hundreds if not thousands of people; therefore, they will have something of a “sixth sense” when it comes to the seriousness of an offer.
From here, estate agents can begin to profile buyers as they approach — considering aspects such as their age, job, if they have made offers on other properties, already have an estate agent and much more. With this process in place, you have a much better chance of finding property buyers who are committed to purchasing your home and avoiding those who are merely dipping their toes in the housing market.
Only Accept Buyers Who Have an ‘Agreement in Principle’
An Agreement in Principle is where the bank has agreed to provide a buyer with funds for a property loan, subject to a valuation. Buyers who have seen a mortgage advisor and have established how much they can afford will naturally have a lot more credibility with estate agents and vendors —making them someone who is much more likely to commit to buying your property.
Again, this is something your estate agent can look into for you. Or, if a particular buyer claims to be a cash buyer, your estate agent can request proof this is genuine.
Don’t Waste Time Negotiating ‘Low Ball’ Offers
If you have sold a property — or sold anything at all — you will know there are always buyers who try to get a steal by putting in a low (and a little bit cheeky) offer or “low ball” offer. Most of the time they won’t be expecting to get your property for such a low amount, but it’s a tactic used to lower your expected price significantly. If this happens, sales negotiations can prove to be a lengthy and frustrating process.
One of the critical aspects of knowing how to find property buyers who are serious about buying is not to entertain low ball offers. If the potential buyer has the funds to pay the full price, their initial low offer means you could spend a long time negotiating before you get anything close to what you want. Or, their low offer could simply mean they don’t have the money to pay the asking price. Either way, it’s often not worth the additional time and effort.
Simple Solution: Opt for a Guaranteed Purchase House Sale
At HBB Solutions, our guaranteed purchase service not only ensures you find a cash buyer for your property, but you can do so within 24 hours of valuation. If you, or a client, is looking to sell their home as quickly as possible and doesn’t want to experience the delays of the housing market or property chains — guaranteed purchase is the ideal solution.
Knowing how to find property buyers is indeed an advantage, but finding serious buyers can prove to be a lengthier process than you may like. We provide sellers with the means to speed up the process, avoid the stress of delays and sales falling through as well as guaranteeing you a cash buyer — all of which are difficult to come by on the housing market.