Thinking of selling your home “By Owner?” Think again. There may be a critical element in the selling process for which you are not prepared – the buyers.
All buyers are not qualified to purchase your home. So…what happens when, after months of showings, your prospects say “We’re ready to buy your home and sign a purchase contract?” Chances are good that you will gladly sign them up. Right?
Once under contract, your prospects will hopefully apply for a mortgage. During the 30 to 60 days required to process their application, your home will be off the market, and you will wait…and wait.
During that time, you may realize that you have bound yourself contractually to prospective buyers, without knowing whether they are financially able to complete the sale. All too often, a loan rejection can occur just days before the anticipated closing. Too late, you realize the buyers should have been pre-qualified before a contract was signed.
Just as you are not likely to diagnose your own illness, or represent yourself in a courtroom case, selling your home without representation may leave you vulnerable. The selling process is complex. Why leave the sale of your greatest asset, your home, to the four winds of chance?
Real estate professionals qualify buyers before showing them homes. This greatly reduces the unexpected surprises and sellers reap the greatest rewards.