Key questions you need to ask your buyer Key questions you need to ask your buyer

Key questions you need to ask your buyer

Published in Guides on 7 July 2021 by our Marketing Team

Finding the right buyer can save you time, energy and disappointment.

 
If your chain falls through due to your buyer’s financial readiness or uncertainties, you may lose out on other offers as well as the property you had intended to purchase.
 
Here are the top five questions you need to ask before accepting an offer.
 
Have they been pre-approved for a mortgage?
 
Being pre-approved for a mortgage means that a lender has already said their application will be accepted, speeding up the process significantly and reducing the risk of it falling through.
 
Do they have a home to sell?
 
Understanding your house buying chain is really valuable, as you’ll be able to anticipate any weak points that could lead to your sale and / or purchase from falling through.
 
More sellers are now opting to rent in between their sale and new home, which means that the chain is much smaller and less likely to break.
 
Have they made an offer on another house?
 
If the buyer has put down a deposit on another property, they might not be fully committed to that purchase.
 
Are they a first-time buyer?
 
First-time buyers are often chain-free, so the process of selling your home should be quicker.
 
However, be careful not to make assumptions.
 
There may be other commitments such as a fixed term tenancy that prevents them from moving quickly, so always check when your buyer wants to complete.
 
What is their moving timeline?
 
Remember to ask what their moving timeline is like, as this will tell you how much they must do before they can move.
 
If their timeline fits in with yours, then they’re probably a suitable buyer for your property.
 
 
Need help finding the perfect buyer? Get in touch with us today.
 
 

This article was originally published by BriefYourMarket and is reproduced here with their permission.

For more company news and insights from Pygott & Crone, click here

Members of the Relocation Agent Network

Part of a network of agents

We work with other trusted estate agents across the nation

Latest news

Positive ripple effects: Why now is a good time for first time buyers?
Magazine | 20 January 2025

Positive ripple effects: Why now is a good time for first time buyers?

For many, buying a first home is one of the most exciting and significant milestones in life.

Selling with tenants in place: A guide for landlords and tenants 
Magazine | 20 January 2025

Selling with tenants in place: A guide for landlords and tenants 

Selling a property with tenants in place can be a complex process, but it can also offer significant benefits for both landlords and tenants when managed correctly.

Are you ready for the Renters’ Rights Bill?
Magazine | 20 January 2025

Are you ready for the Renters’ Rights Bill?

The landscape of renting in the UK is on the brink of significant change as the long-anticipated Renters' Rights Bill moves closer to becoming law.

Five things landlords need to know in 2025
Magazine | 20 January 2025

Five things landlords need to know in 2025

As the rental market continues to evolve, landlords must stay informed about the latest trends, regulations, and opportunities to remain competitive and successful.

Chat live

Chat live with a member of staff

Please provide your name and email address to continue.