Home Page About us How it works Frequently Asked Questions Properties for Sale - is yours here yet? Properties Wanted Information Prices Documents News & Views Useful Links Contact us
 

 

Climb to the top

Get on
 The-PropertyLadder.com

Climb to the
right rung
and click.

 

 

The-PropertyLadder.com

The Best Buyers

 

Why are buyers different?  Well, it boils down to time and to some extent seriousness.

While the buyer will be keen to ask you questions about why you want to move and what the faults are with your home, you should be forming an opinion as to the suitability of the buyer to proceed.

It helps to list some categories of buyer to help put them into perspective.
 

  1. About to put own house on market and doing research.
     
  2. Just looking to see if there’s anything worth moving to.
     
  1. Own house not on market but looking seriously.
     
  1. Own house on market (but no timing guarantee’s)
     
  1. First time buyer (Though you should be cautious if your home is not of the type it would be reasonable for a first time buyer to choose.)
     
  1. Sold own home and living in rented accommodation.
     
  1. Cash buyer.
     
  1. Just sold own home and has to move soon.
     
  1. Investor or cash buyer (mortgage).
     
  1. Sold own home and has to be out by a certain date.
     
  1. Investor or cash buyer (own funds, no mortgage, or survey – yes, incredibly people do this).
     

Obviously as you read down the list the timescale for the buyer is shortening.  This is not a hard and fast rule, and people who have suffered emotional disruptions such as bereavement and separations can be difficult to place precisely.  The odds are usually in your favour, that if someone has to be out by a certain date and they make you an offer, they are more able to move to a timescale and serious about the prospect. 

Of course, anyone can tell you anything, so it’s nice to confirm this piece of information before you get too involved with this buyer.

Another factor that you should consider is the length of the chain.  If there are a lot of people involved in a chain, it can be disrupted by any one of them.  If there is just you and the buyer there is less to go wrong.

Finally, are they really able to provide the funds?  Some people are incredibly vague about this issue.  It is quite acceptable to ask to see some documentation from their Financial Advisor or from the lender confirming that in principle they have started to access funds.  Remember that at this point any unidentified problems that arise from a survey may, if serious, affect the amount of the advance offered.

If no funds are being borrowed, it’s worth asking to see some confirmation that the funds are available.  In this case you may have to exercise judgement about the ability of the buyer to convert their asset into hard cash.

A final factor that is frequently used, wisely or not, is do you like the buyer.

Good Luck.

Next - The Viewing


New
Climbers


 Click the House above to add your home FREE

 
 Holiday Vouchers
Check out the Free Holiday Vouchers



Save £1,506
 Treat yourself with the money we save you

Forum
Comments to

 

 

Climb back to the top

Copyright © 2002  The-PropertyLadder.com. All rights reserved.
Revised: 20 March, 2003.