Questions You Should Never Answer From Home Buyers

Posted on: 30 December 2015


When you're selling your house, you probably have a million thoughts in your head about what you want from the transaction. Maybe you're thinking, "I want to sell my home fast!" You may be wanting to click with a buyer to encourage the purchase of your home, so you engage in small talk. That's fine, but make sure you set boundaries and decide in advance which questions you won't answer. These are the main questions you should avoid and things to keep mum about, no matter how much you like the person who's considering the purchase of your property.

How Much Did You Pay for the Home?

Now this may seem like a fair question. After all, a buyer is curious to know how much profit the seller will make from the sale of the home. However, this question actually has next to nothing to do with the current real estate market and the current value of your home. For example, if you bought your home 20 years ago, the price will almost be irrelevant. Nevertheless, a buyer is likely going to be curious. Rather than answer the question yourself, explain that you don't have exact figures, but you will consult with your realtor or real estate lawyer and have the professional get back to them regarding the question.

What Time Frame Do You Have for the Sale of Your Home?

Buyers ask this question sometimes because they want to know if you are a desperate seller. Even if you may be desperate to sell your home quickly, the worst thing you can do is let the buyer know that you are overly eager. That will let the buyer know that they can get away with lowballing you as much as possible over the price of your home. Don't answer this question. Instead, downplay it and change the subject. You may say something like, "I'm more interested in hearing your opinion of the home so far." Such a statement is likely to disarm the buyer and simultaneously get their mind focused elsewhere.

Will You Pay the Closing Costs?

Now this question may strike you as exciting. If a buyer is asking this question, it's clear that he is interested in the property and is likely thinking seriously about purchasing it. When you are looking to get fast cash for your home, you may want to immediately agree to pay the closing costs, which will likely seem insignificant when compared to the profit you're making from your home. However, you should not answer this right away. Explain that you have to discuss any proposals with your real estate attorney, then have the lawyer get back to them with an answer. Never answer this or agree to any requests without professional counsel.

Finally, keep in mind that, no matter how much you may like a potential buyer, you should never answer these questions. That's true no matter what your priorities are, whether it's selling your home fast, getting top dollar for your home, or simply finding a buyer who will treat the home with the same kind of care that you did. There are just some things that you should never share with the potential buyers of your home. For more information about real estate transactions, contact a business such as R & E Investments.