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Home Seller Red Flags: How to Pick the Right Buyer

Mar 30, 2023  
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Selling your home in Calgary requires more than just presenting it in the best possible way. It’s equally crucial to select the appropriate buyer since they play a significant role in the selling process. A suitable buyer can facilitate a hassle-free sale, while picking the wrong one could result in setbacks or even a voided contract. Here’s what you should keep in mind.

Know the Warning Signs

There is a typical behavior pattern that home buyers tend to exhibit. A dependable home buyer would submit their documents promptly, request only what is reasonable, and collaborate with a real estate expert. On the other hand, uncooperative home buyers will exhibit warning signs that are quite distinct from those of reliable home buyers. For instance:

Ask for Extra Contingencies

Contingencies refer to contractual clauses that allow homebuyers to withdraw from the deal without forfeiting their earnest money. If a potential buyer is requesting additional contingencies that are not typically included in the agreement, it could indicate that they are struggling to commit to the property.

Errors on the Home Purchase Agreement

A well-defined and error-free home purchase agreement is crucial. Any omissions or inaccuracies in the agreement may suggest that the buyer or their real estate agent is inexperienced or lacks attention to detail. This could cause delays during the home buying process.

Really Low Offer

Receiving a considerably low offer can be quite disappointing for home sellers. Such an offer could indicate that the home has been overpriced, or that the buyer has limited financial means. In such cases, the buyer may encounter difficulties obtaining a mortgage. Even if they secure a loan, they might request several home improvements since they won’t be able to afford them after purchasing the property. Regardless, an excessively low offer poses a problem for the seller.

Know When to Reject an Offer

Getting an offer on a home can be an exciting moment for sellers, but the temptation to accept the first offer that comes their way can be overwhelming. Fear of not receiving another offer or one that is less appealing could lead to hasty decision-making. This is where a real estate agent’s expertise is invaluable.

A competent agent can help homeowners assess the offer’s suitability. If the offer falls short of expectations, the agent may suggest turning it down. Sometimes, waiting patiently can result in a more favorable outcome in real estate deals.

Real estate agents are adept negotiators and can assist in situations where the offer is inadequate or the contingencies are unreasonable. They can advise homeowners on whether it’s wise to negotiate a better deal.

Work With a Real Estate Professional

Teaming up with a real estate professional can assist you in avoiding problematic home buyers in East Calgary. A seasoned agent can detect the red flags and help you avert potential issues. If you’re contemplating selling your home soon, it’s wise to contact a trustworthy real estate agent in your area to begin the process.

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