Watch Out For These Red Flags When Selling Your Home

Every seller wants their home sale to go off without a hitch. The selling process can be stressful enough as it is when it goes smoothly. But if you work with a problematic buyer, it can make the process that much more difficult. So how do you choose the best buyer? By watching out for these red flags when you?re selling your home.

No mortgage pre-approval

Getting 预先批准抵押 should be the first step that buyers take before searching for a new home. This is why it can be a huge red flag if you get an offer from a buyer who is not pre-approved. When a buyer doesn?t take the time to get pre-approved, it may signal that they aren?t very serious about their offer. And when they?re not pre-approved, you have no way of knowing if they will actually qualify for a mortgage. The bottom line is — if you have more than one offer on your home, then you should disregard those that don?t come with a mortgage pre-approval.

Small earnest money deposit

When a buyer makes an offer on your home, they will often include an 保证金存款. This is the money the buyer puts down when the offer has been accepted. That earnest money is forfeited should the buyer cancel the contract without just cause. If your buyer is submitting an offer with a small earnest money deposit, this could be a potential red flag. They may not be ready financially to purchase your home, or they may have reservations about their offer. Proceed with caution.

Delays in communication

The process of closing on a home requires a great deal of communication between the buyer and seller and their agents. Contracts will get passed back and forth multiple times, papers will need to be signed, and agreements will need to be made. Delays in these communications can cause the closing to be pushed back or even canceled altogether. If a potential buyer is slow to respond to your calls or emails (or they give you incorrect contact information) this could be a red flag. They may be difficult to deal with during the closing process, creating more challenges than is necessary.

Multiple contingencies

Finally, beware of buyers who include many 突发事件 in their offers. It is not uncommon for most offers to have at least one contingency. Common contingencies include a 融资应急, appraisal contingency, or inspection contingency. Each of these contingencies must be met for the deal to close. The more contingencies, the tougher it will be to get to the closing table with this buyer. If you get offers that have multiple or uncommon contingencies, that can be a big red flag. This buyer may be difficult to work with or not really ready to buy a home.

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