You’ve decided to sell your home yourself and
decide to have an open house to show off the property. Potential
buyers come and you get an offer. What now?
Qualifying Buyers
Your home is looking sharp and you’ve got the
word out telling people about the open house. Now you need to be
prepared to take action if a qualified buyer attends, likes your
home and wants to buy it.
Most qualified buyers will have a strong lender
letter. If one of them wants to buy, you can move on to the next
step. There may be people who come to your open house who would
like to buy but don’t yet have a lender letter. Let me suggest a
mutually helpful alliance for dealing with that situation.
Call several lenders before you schedule your
open house. Tell them you’re planning an open house and you’d like
to have a lender on hand to help buyers (even if they don’t want
to buy your home) figure out what they can afford. Tell them you’d
also like them to help you evaluate any lender letter you’re
offered by a potential buyer. Choose the lender you feel most
comfortable with and work out a mutually acceptable date for your
open house.
You can introduce all attendees at your open
house to the lender. This often proves to be helpful to you, some
of the buyers who attend and can be a source of additional loans
for the lender. Everybody wins.
FSBO
Open Houses – What If You Get An Offer?