Selling a house is not an easy job. A lot goes into preparing the house, marketing it properly, and securing the deal successfully.
If you want to skip the work, you can contact reputable and trustworthy cash home-buying companies like HouseMaxx, which states, “We buy houses in Shawnee and many other places at market-competitive rates.”
But if you want to stick to the traditional route, focus on finding the right buyer. That’s the most important part and can determine the success of your sale. So, in today’s post, let us tell you about different types of house buyers and how to deal with their offers.
3 Main Types of Buyers
According to the latest reports, 38% of home buyers in the USA are millennials. This includes younger millennials (age 25 to 33) and older millennials (age 34 to 43). These people are competitive buyers and consider home buying a major part of their life.
So, you should expect them to know what they want and how to assess the property for their needs. It’s best to maintain honest and transparent communication with them to secure the deal.
Besides this category, you will come across the following main types of buyers:
- First-Time Buyers
First-time buyers are people who are purchasing a house for the very first time in their life. They aren’t much experienced in the process but are motivated and eager enough to learn. Also, since this will be their first property, they aren’t relying on another transaction.
This is also called being chain-free. For sellers, this is an attractive feature that makes it easier to seal the deal. The buyer isn’t dependent on the sale of the previous property, which allows you to get an agreement on the proposed price easily.
- Cash Home Buyers
As the name suggests, these buyers purchase your property in full cash payment. This means you get the money faster and quicker. The process is fairly simple and straightforward, too. But there’s one con – some buyers have low offers.
It’s always recommended to go with cash home-buying companies. They usually offer better rates than independent cash buyers. Just make sure the company has a good reputation and history.
- Investors
Real estate investors are people who are in the market to buy cheap property only. Their goal is to lowball the offer so that they can renovate the property and sell it for a much higher profit. So, unless you just want to get rid of the property, it’s best to avoid these buyers.
How to Deal with Offers?
Once you start receiving offers, don’t just accept the first one that pops up. Instead, evaluate each offer carefully and separate the ones that match your ideal buyer category. Let the others know that you’re not interested.
For the selected ones, give them a call and set up a meeting. Use this opportunity to market the house further and discuss paperwork. If someone is serious, take things one step ahead and talk about payment.
You would want to convince the buyer to pay the proposed piece. This can be done by highlighting the main features and reminding them of all the advantages (like amenities and nearby places). Once they agree, process the paperwork immediately and take the house off the market. Good luck!
