Destin For Sale By Owner Tip: How to Pre-Qualify Your Buyer

How to prequalify your buyer

If you are trying to sell your Destin Florida area real estate as a “For Sale by Owner”, what steps can you take to pre-qualify your buyer?

We all get pretty excited when a buyer calls on a house or condo we are trying to sell. Let’s say you put your “home for sale” ad online or in a newspaper and you get a call from someone wants to see it. What do you do next?

Do you just jump up and tell them to “come over”? How would you feel if you found out they were not even qualified to buy your property?  That’s wasting your time and exposing your home to a stranger who may have other motives.  If you don’t want to let just anyone into your property, here are some tips to making sure your buyer is pre-qualified:

Sample New Buyer Conversation:

BUYER: “I read your ad on craigslist. Can I take a look at your condo tomorrow?”

SELLER: “Thank you for your interest! I do have a security policy before showings. Would you be able to email or fax me a copy of your pre-approval or proof of funds?”

You see, this is very simple. If the buyer is a serious about making a purchase, they would have already spoken to a mortgage lender and received what is called a “pre-approval” letter.  If they are a cash buyer, they should provide you with “proof of funds” in either the form of a letter from their bank or a copy of their bank statement before you allow them to see your property.

If the buyer is getting a mortgage and has not yet spoken with a lender, you could have two local mortgage lender names and phone numbers ready to give them.  You can be pleasant about it, and say the following:

SELLER: “Here are two local lenders that I’ve heard good things about. Would you mind doing a quick over-the-phone interview with them to get pre-qualified before I show you the property?”

If the buyer says “no”, then that should be your answer, too.  Act in your own best interest, and make sure the buyer is qualified before you let them into your property. Happy selling!
Wendy Rulnick
“It’s Wendy… It’s Sold!”
Rulnick Realty, Inc. 850-650-7883 ext 204
[email protected]


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