The seller spent $1,000 removing an old shed and met with the prospect several times to discuss price and terms. It was well into the process when the seller found out the prospect could not qualify for a loan. Real estate agents spend considerable effort weeding out showing to non-qualified and unqualified home shoppers. I always ask that any offer MUST be accompanied by the buyer's lender pre-approval. You also must understand the difference between a pre-approval and a pre-qualification. (pre-qualifications are not worth the paper they are written on). However, unfortunately, many lenders issue what they call a "Pre- Approval Letter" that is really just a glorified pre-qualification. Being that I was in the industry I can easily determine what is being handed to me to insure we don't accept an offer from an unqualified buyer.
“Hovering”
Whenever possible, don’t be home during a showing. This is difficult, impossible or impractical if you are selling the home yourself. If you have a real estate agent, leave when the house is shown. Lurking sellers make buyers nervous. Buyers may feel they are intruding and then rush through. They may be hesitant to talk about changes to the home or features they don’t like. Buyers will feel uncomfortable closely inspecting the house in the presence of the owners. It’s easier for buyers to visualize the home being theirs when they have a chance to critique and discuss the home among themselves. If you must be home, try to stay out of the way and answer questions only if asked. Unless there’s a real reason for it, don’t ask your agent to be present for all showings, either. That will limit your showing activity. Other agents want privacy with their buyers and they do not usually have time to work around your agent’s schedule.
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