As the number of house enthusiasts continues to rise, it would not be impossible for you to have a potential homeowner within a week or two. When it comes to selling a house, it consists of few phases to complete the entire process. One of these phases is the transaction proper – wherein a buyer wants to purchase your house.
In this phase, you may not be aware of what can happen next. To help you be more prepared in securely closing a deal, here are some of the things you need to do when someone takes an interest in your house.
1. Identify the Payment Method
This method is one of the initial must-knows when it comes to selling a house. There are two types of payment methods, cash or through a mortgage. These will pre-determine what type of buyer suits your intention in selling the house. If you are on a time crunch and wanted to sell your house on a deadline, it is best to sell it to a cash buyer or realtor. It will save you from the long process of bank appraisal and inspection since it is not part of their requirements.
On the other hand, if time is not an issue and you can handle and benefit more from monthly loans, accepting mortgage payments would not be a bad idea. It is crucial to know your intention of sale since it can ultimately save you from conflicts in the future.
2. Ask for a Letter of Intent
Similar to your situation, you must also know why the buyer wants to purchase your house. The information you get is important because it will lay out the client’s desire as to why they want to buy the house. A letter of Intent usually consists of:
- Initial Price Offer
- Inspection Timeline (if there is any)
- Closing Timeline
- Demands in House Condition
The letter of intent ensures that both parties are the best fit for the transaction to continue. If you have a listing agent, you may discuss the letter of intent together since the price offer includes their commission.
3. Make Sure to Meet Demands
It is acceptable to have your house untouched and exposed as it is. However, there are times that a buyer has a few demands that you might need to be aware of. Ensure that you can meet as many as you can, especially if it is about fixtures and repair. It would be better to make your house different from what it was. Make your house showcase its full potential. It helps you negotiate with the client’s offer and help you determine if the price meets your house’s assets.
Selling a house can be unpredictable with its duration in the market. When an opportunity knocks on the door, it is the best time to give them a straightforward and quality service. After all, the trust between seller and buyer becomes the ultimatum in closing a deal. We buy houses at SnapCashOffers.com. For more information, contact us today.