qualify for a loan that allows you to buy the kind of replacement home you want. Before deciding to sell, determine if you have the funds for a new home. If not, get pre-approved by a lender you trust, and research the housing market in the area where you want to live to understand how much it will realistically cost you to buy. Make plans in case you need to move quickly.
Wasting Time on Unqualified Buyers
It is a fruitless effort to show your home to someone who cannot purchase it. For example, there was a seller who spent two weeks preparing his home for an acquaintance interested in buying it. The seller invested $1,000 to remove an old shed and met with the potential buyer several times to discuss price and terms. It wasn't until later in the process that the seller discovered the prospect couldn’t qualify for a loan. Real estate agents put considerable effort into filtering out unqualified home shoppers to avoid wasteful showings.
“Hovering”
Whenever possible, avoid being home during a showing. Being present at the showing is one of the main reasons potential buyers pass on your home. They often feel like they're trespassing on your territory. Leave the house while it is being shown. You can't do this when you're showing the house yourself, which is another reason to use a licensed broker. An arms-length transaction keeps your personality and motivations out of negotiations. Lurking sellers can make buyers feel uneasy. Buyers may think they are intruding and consequently rush through the home. They might hesitate to discuss changes they would make or features they dislike. Buyers will feel uncomfortable closely inspecting the house while the owners are present. It’s easier for buyers to envision the home as theirs when they have the opportunity to critique and converse about it among themselves.
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