How can you tell that the buyer is serious?

Asked by Rowena, Toronto, OH Fri Sep 26, 2008

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Bill Eckler, Agent, Venice, FL
Fri Sep 26, 2008

Good question....

These are a few indicators of a buyers seriousness:

Cash buyer or preapproved

sizable deposit

ready to close ASAP

limited or no contingencies

willing to pay close to the asking price

Hope this is helpful.
The "Eckler Team"

Michael Sanuders & Company
1 vote
Keith Sorem, Agent, Glendale, CA
Sun Sep 28, 2008
When they write an offer. Period.

Do you have your home listed with a REALTOR?

I would.
0 votes
Scott Godzyk, Agent, Manchester, NH
Sat Sep 27, 2008
The best way is to put it in writing, make it count, make it real and make it legal. In writing and collect a deposit.. Without either they are not serious. Hope this helps
Web Reference:
0 votes
Dee Nofziger, Agent, Toledo, OH
Sat Sep 27, 2008
I'm not sure about the specifics of your question, but if you've received an offer from a buyer, to verify their seriousness it is mandantory that they have included a bona fide preapproval letter from their lender. The lender should also be with a company that you are familiar with. Don't be afraid to ask for them for a preapproval from your own lender or to personally call their lender to verify. Most preapprovals are free, so this shouldn't be a problem.

Also, while not mandatory, an offer of earnest money would be helpful. If they have an immediate "investment", such as earnest money, then you know that first of all, they actually have some cash and second, that they are willing to risk that cash. (The definition of "earnest" is fervent, purposeful, determined, resolute, serious, sincere. Earnest implies having a purpose and being steadily and soberly eager in pursuing it.)

Hope this helps.
0 votes
Sylvia Barry,…, Agent, Marin, CA
Fri Sep 26, 2008
Serious about buying? or Serious about Buying YOUR house?

Serious about buying - check Bill's answer.

Serious about buying YOUR house - check Jeff's answer.

Other than that, it does not matter if the buyers look at your house 100 times, they might be serious, but it does not make any difference in accomplish YOUR goal.

Hopefully they are working with a Realtor, and the Realtor can consult with them about the advantage of your house vs others to make this work!

Sylvia Barry
Marin Realtor
0 votes
Jared, Home Buyer,
Fri Sep 26, 2008
Treat them all with the respect you would treat a serious buyer.
In this market buyers are much more cautious and may take longer to make a quality offer. I would expect more contingencies than you might have expected 2 years ago. Good luck, but buyers controll the market now and sellers will have to work a little harder than a few years ago.
0 votes
Jeff and Gin…, Agent, Vero Beach, FL
Fri Sep 26, 2008
When a buyer signs and presents a Purchase and Sale Agreement with an escrow deposit, then you know the buyer is serious. Until that happens, the buyer may or may not choose to make an offer on your home.
0 votes
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