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December 4th, 2023 by

Selling your home means you open your property up to a lot of different people. Here are the most common types of buyer you should prepare for.

Selling your home can be challenging, even in a favorable seller's market. Eager buyers may be rushing to your home, but don't assume that means a fast sale with big profits. Our real estate agents know that home buyers come in all shapes and sizes with different demands. For sale with optimum results, you should be aware of the different types of buyers you may encounter and the best way to deal with them.

  • The Window Shopper
    These buyers are dreamers who love visiting South Bend homes for sale and open houses. They swoon over every house they see and dream of owning a home but rarely make offers. Some even pose as strong negotiators with lowball offers, but flake when it comes to sealing the deal. Window shoppers are just not that serious about buying a home, but they can waste a lot of your time. If you sense this is happening, confront them with an offer and ask about their moving plans. If you get a wishy-washy answer, cut your losses and move on.

  • The Emotional Buyer
    Emotional buyers tug at your heartstrings because they are so in love with your home. They may be serious buyers and really love your home, but they may be manipulating a better deal by playing with your heartstrings. These types of buyers often submit offers with attached sweet emotional letters, drive-by photos of your home, or photos of their children and pets. To protect your bottom line, make sure their feelings are backed by a solid offer and a qualified loan. Remember, this is a business transaction, so treat it that way, and don't be swayed by your emotions.

  • The Underdog
    These buyers are often difficult to deal with because they don't have available cash for a down payment. Buyers with FHA loans often fall into this category because FHA has stricter requirements for home loans. Underdogs may ask you to contribute to closing costs, but they may also be more flexible to your needs. To protect yourself and seal the deal, you can ask for a later move-out date, do fewer home repairs, or consider taking out a second mortgage where you act as the bank for the buyer to cover the financial gap. You can make money at a higher interest rate.

  • The All-Cash Buyer
    All-cash buyers can be difficult to negotiate with because they know they have leverage. They often swoop in with a cocky, privileged attitude and ask for a shorter escrow period to convince you to sell. Generally, all-cash buyers make lower offers with specific contingencies that benefit them, so you will have to be flexible to seal the deal. Although cold hard cash for your home may be tempting, this deal benefits the buyer, not you. Remember, when your home sells, you will receive your net proceeds in cash, regardless of how the buyer pays. A well-qualified buyer is just as good as an all-cash buyer.

  • The Coyote
    If your home sits on the market for a while, you may notice a rise in coyotes and property flippers sniffing around for a deal. You may get people driving by your house taking photos, knocking on your door asking questions, or filling your mailbox with flyers. Before you disclose any information on your home or give in to a bad deal, consider concessions that can speed up your home sale, like lowering the asking price, holding an open house, and improving your curb appeal.

If you're buying or selling a home in South Bend, contact us for information on available properties and prices in desired communities.

Categories: Selling Your Home
Tags: Cressy & Everett, South Bend IN, Selling Your House, Selling Your Home, For Sellers, Home-selling tips
Related Markets: South Bend

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