When you put your home on the market, hopefully there will be a lot of buyers that show interest in your property, saying things like “This place is everything we’ve been looking for!” or “This is my dream home!”
But not every buyer that shows interest is serious about actually putting in an offer and moving forward with a home purchase, no matter how enthusiastic they may seem.
So, as a seller, what should you look out for to gauge buyers’ genuine interest?
A recent article from realtor.com outlined red flags that a home buyer may not be serious, including:
- They don’t have an agent. While a buyer doesn’t need to work with a specific buyers’ agent, many do. If a buyer doesn’t have an agent, that could be a sign that they’re not serious about buying a home, or are just starting to do research on their own.
- They haven’t gotten pre-approved. Unless they’re paying cash, buyers need a pre-approval letter from a lender in order to show that they can qualify for a loan in the amount that they are offering the seller. So, if they don’t have a letter, they can certainly make an offer, but it would likely be a sign that they aren’t serious about buying a home, or are at least not prepared enough to be a serious buyer worth your consideration.
- They’re all talk and no action. A buyer may say that they’re extremely interested in your home and are planning to put in an offer, but if days go by and that offer doesn’t materialize, they may be on the fence about your home, or they may be considering putting in an offer on another home. Either way, if a buyer is really serious about buying your home, they won’t drag their feet.