Martino Realty will help you with Real Estate warning signs.
With a high demand for real estate and low supply, sellers may feel that they have the upper hand. One thing to beware of in this market is, “buyer’s remorse”. This will occur when the buyer backs out of a deal once they’ve put in an offer on a specific home, leaving a negative stigma around the home.
How can one avoid getting those bad buyers? There is no exact answer, but there are red flags!
1. Buyers with specific questions about that home that can be easily fixed. If a buyer has an issue with the stain on the carpet, don’t be surprised if they aren’t serious buyers.
2. In the process after the acceptance phase, the buyer will set up a time for the engineering inspector. If they take their time, this may imply they are getting cold feet.
3. Beware of buyers who are reluctant to give the pre-approval.
4. Buyers who are hard to get in contact with can be a sign they aren’t serious.
5. Ideally, if a couple plans to purchase a home they should both have seen it.
Again, these aren’t necessarily deal breakers just be sure there is constant communication between your buyer.