How Do You Identify The Best Buyer While Selling Your Home?
You’ve listed your property for sale and are now awaiting offers. You may have received two to three offers from purchasers, indicating that this particular period and your neighbourhood are both seller’s markets. It would be wise to take into account a few factors in order to select the finest offer:
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Think about why you want to sell
Your motivation for selling may assist you decides how soon you want to sell your property and within what time period. Speed will be the most important factor if it’s a distressed sale, therefore you should choose a buyer who plans to close the purchase soon.
Consider your profit
Calculate the return you would receive from each offer price by taking your time. Make a list of every expense you had when using the property. Then, calculate your profit by deducting this from the sum the customer is offering you. Make this calculation for each offer you receive in order to determine which one will yield you the highest profit. To determine your Return on Investment, go here (ROI),
Think about the payment terms and conditions
Let’s say you had two offers for your house, which had a Rs. 40 lakh asking price. After taking into account the expenses you incurred on your property, you determined this price.
Think about the method of payment
It would be prudent to take into account the buyer’s intended method of payment in the event that the buyer is utilizing his or her funds to finance the acquisition of the property. Demand Drafts (DDs) are a safer method of payment because the bank will only issue one if the account holder has the required funds in his or her account or supplies them so the bank can issue the DD.
While everything may work out OK if the buyer is paying with a check, you run the danger of the check bouncing if the required amount is not in the buyer’s bank account. Additionally, it is wise to avoid using post-dated checks in these circumstances.
It’s a good idea to talk to your broker about a certain buyer as well. Additionally, they are skilled at and have the connections to arrange for a buyer’s background check, which is very crucial.
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