Is Your Buyer Qualified?

Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract.

1.      Has the buyer been prequalified or preapproved (better) for a mortgage. 

2.      Does the buyer have enough money to make a downpayment and cover closing costs? 

3.      Is the buyer’s income sufficient to afford your home? I

4.      Does your buyer have good credit? 

5.      Does the buyer have too much debt?