| Identifying a serious, qualified buyer is a major step toward a quick and low-stress closing. |
Serious buyers purchase homes. It may seem like a painfully obvious fact, but there are many lookers and marginal buyers out there as well. Consider these characteristics of the strongest purchasers.
Mortgage Prequalification
A buyer with a prequalification for mortgage financing is extremely attractive to a seller. Prequalification eliminates (or significantly lessens) the prospect of a deal collapsing for lack of financing.
Does the Buyer Have to Sell a House?
A buyer whose home is already sold - or one who does not require a sale to compete the new purchase - is preferable to one who is depending upon finding a buyer for his or her current house.
Transferees
Transferees are typically extremely strong buyers. They are usually under time pressure to make a purchase, so they will probably make a fast decision and move swiftly to closing. In many cases their employer is providing assistance in selling the old home or purchasing the new one.
