The Seller “Who, What and When”

November 15th, 2012

The Seller “Who What and When” – 3 simple things to look for in a Buyer

So many escrows today just barely make it past the inspection period, or the opposite they make it to the finish line and fall out. Below is The Seller Who, What and When to ask in deciding what buyer to open escrow with:
Who is the Buyers lender? Who are they, how qualified is this buyer, what is their time line for handling this transaction, how will they trouble shoot any issues, who will be your main contact are just a view questions to ask.
What is the buyer’s motivation? Buying today can be very competitive. Buyers who have been looking for a while have experienced being up against multiple offers and losing out, others may be investors looking for the best deal and return on investment.  Whatever the motivation, needing a house to live in after endless searching and finding that one that is the perfect fit may be one of the better bets. Ask why does this buyer want this house; get to know them and their situation. It will help you make the right decision.
When will they lift contingency? With any offer there will be a contingency period for inspection, loan and appraisal. Most lenders will require at least two weeks some three for the complete loan approval and appraisal. However, the inspection period can move pretty quickly, the shorter the inspection period the more likely you have a motivated buyer. If they have requested a long time you should get to the bottom of why.

Paul Cruz, Realtor

9000 W. Sunset Blvd. 11th Fl., West Hollywood, CA. 90069

(310) 498-4942

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