When you’re selling your home, you want to make sure you do everything you can to protect yourself during the selling process to make sure things go smoothly for you. It’s already a stressful process, but there’s still plenty more that can go wrong. If you find ways to protect yourself, you can have a much better experience.
How to Protect Yourself During the Selling Process: Only Accept Buyers with Financing
Perhaps the hardest part of selling your home is finding a buyer. You need to do everything you can to pull in buyers including making repairs/renovations and marketing your home well. Even if you do get buyers to make an offer on your home, there’s still a chance that they will drop out of the sale and you have to start all over again.
The best way to avoid this is by finding buyers who already have financing. Examples include buyers who are pre-approved for a mortgage loan or cash buyers that have all the funds they need to buy a home upfront. If your buyers have financing, they are less likely to drop out on you.
Evaluate Every Offer
As you’re selling your home, you can never be too careful. You should thoroughly evaluate every buyer before you accept their offer. Some people pretend to be interested in your home for the purpose of scamming you.
For example, some buyers may act interested and even send you money (usually via a cashier’s check). They will later contact you with reasons they can’t go through with the sale and ask for a refund. By the time you “refund” them, their check will have bounced and you’ll be out a lot of money. It’s important to learn common home buying scams so you know what signs to look out for.
How to Protect Yourself During the Selling Process: Get Everything in Writing
For your own sake, you need to make sure every aspect of the sale is in writing. If changes are made or if anything is added, get it in writing and make it official. As nice as people may seem, you can’t always trust handshake deals or accept people’s word. If you get something in writing, you protect yourself from losing money or being taken advantage of.
You need to make yourself a priority when you sell a home. You may want to do everything you can to please potential buyers and make it easier to sell, but you shouldn’t leave yourself unprotected. Taking these steps will help you avoid any difficult situations when selling.
Did you enjoy reading this article? Here’s more to read: What to Know Before Buying an Investment Property
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