There are a few ways to tell whether a home buyer is worth their salt. Thanks to the internet, it’s easy to look up anyone these days! You can now see if they have any ratings from credible sources, check their social media activity, take note of their website design, and see what kinds of properties they usually purchase.
However, not everything can be found on the internet. Continue reading this post to know about some ways you can tell if a buyer is good or not.
Great home buyers will return your calls and emails promptly and offer you a quick closing, sometimes as fast as two business days. They will offer to pay for your property 100% cash but are open to other payment types to suit the situation. Bad home buyers are difficult to get in touch with; they constantly delay or do not return phone calls or emails after (allegedly) offering you a quick close.
If the home buyers succeed in buying the house, it’s likely that they were qualified for a loan first and went through final closing. Most great home buyers won’t renegotiate unless extenuating circumstances or hidden issues come to light. On the other hand, bad home buyers may try readjusting the price several times over.
To ensure you’re picking the best home buyer, research their reviews. Although a few negative ones are to be expected — everybody makes mistakes sometimes — make sure to check if the buyer responded appropriately. If they did, see if you agree with how they dealt with it.
A good buyer will have a response to the review to explain what had gone down, while a bad buyer may just leave a comment or provide a non-explanation. And finally, talk to people you know. See if anybody has heard of this potential buyer before making your final decision. People around the industry will be able to recognize their name and give you proper directions.
If you want to be a great home buyer, it’s important to have a positive attitude toward real estate. Likewise, following through on your commitments is key. You should also keep your word and stick to any promises you make. On the other hand, bad home buyers will only get your hopes up without ever delivering on their promises.
You may encounter rude or insensitive individuals. They might set appointments with you but then never show up or call back — imagine spending hours getting the house ready for them only to have them not even bother showing up or calling you to explain their tardiness.
If you’re looking to do business with someone, references are always a solid starting point. A great home buyer will already have multiple references for you to call so that you can verify their claims. If they hesitate to answer any of your questions, this might be a bad sign. Furthermore, take some time to look at their website and see if there are any reviews listed.
Are the reviews specific to certain situations, or does it seem like a broad generalization? Are they too good to be true? If it raises any suspicion, then maybe their employees wrote them as opposed to actual customers. Checking social media accounts and other rating websites is also helpful. See what people are saying about them in the comments section and whether public reviews exist before moving forward with anything.
A good home buyer will agree to a closing date within 2-30 days, put down a deposit, and maintain communication with the title company. On the other hand, a bad home buyer may try to push back the closing date multiple times or never submit their deposit at all.
A loan commitment letter with few items listed is usually a good sign. However, if there are multiple issues mentioned in the buyers’ commitment letter, it might be cause for concern, as questions about sources of funds or credit score may arise.
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