Published March 10, 2023
3 Types of Home Buyers You’ll Face When Selling
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The process of selling your home is exactly want it sounds like: a process. Sometimes you will find the perfect buyer the first day you are on the market, and other times you may have to negotiate with multiple buyers who make multiple offers before you find the one. While each transaction is different, it is pretty simple to group together buyers into 3 categories based off of how they are likely to act.
The All Cash Buyer
Cash is king, and this goes double in the world of real estate. Paying cash for a home allows a buyer to close much more quickly and with fewer requirements than a buyer getting a mortgage. While this is generally a good thing for the seller as well, there will be some sellers who intend to use this to their advantage and request additional terms in their favor in return.
The Underdog
The Underdog is the opposite of a cash buyer. They are making a small down payment, potentially with a loan like FHA, and they know that this makes their offer slightly less attractive to sellers. As a result, some buyers in this category will be more willing to meet the needs of a seller regarding things like move out dates and repairs.
The Window Shopper
This category of buyer is generally thought of as a less serious buyer. They are going around town seeing a large variety of properties and submitting lowball offers to see what sticks. It is important that you and your agent gauge the commitment of buyers like this as they are more likely to cancel a contract than the typical buyer.
As you can see, there are a lot of different characters you could potentially come across in your home selling journey. This is why it is important to have an experienced agent by your side to help you read the situation and provide guidance throughout the process. Give us a call today if you are thinking about listing your home now or in the future!
If you want to learn more about these categories of home buyers or several others, take a look at this article from Realtor.com.
