A by owner property sale can be a harrowing experience. The sale by owner process is not an easy one especially if you haven't done it before. In today's market it is more stressful than ever to sell a home quick. The majority of FSBO home sellers are having some degree of difficulty in making their monthly mortgage payments. Even though you are very anxious to sell your home quickly, you need to be cautious. If you sign a sale contract with the wrong buyer you will be in a worse position than if you had done nothing. You will not want to trust everybody who expresses interest in your property for sale. In fact it is smarter to trust nobody until they prove they deserve to be trusted. It is also smart to hire a lawyer to look everything over for you and give you good counsel on offer and sale contracts. If you are very aware of your buyer's moves you should be able to spot some danger signs before they become a problem.
The Top 5 Warning Signs That You Have an Untrustworthy Buyer Do not trust a buyer:
- Who wants to make buying your home contingent on the sale of their old house first
- Who wants to put up a very small deposit
- Who wants you to finance their purchase so they don't have to apply for a loan
- Who has not received pre-approval for a mortgage loan
- Who includes many other contingencies in the sale contract which allows them to back out of the deal
Selling your home quickly at a good price is your # 1 goal. Be sure to make your # 2 goal to watch out for shady buyers so they don't ruin the whole deal.