How do I choose the right buyer?

You've already held the first viewings of your property with prospective buyers and are wondering if the right buyer was among them? Finding out after the viewings is often too late. A real estate professional filters out the most suitable potential buyers beforehand, saving you time and effort.

Filter out sightseeing tourists

To simplify the buyer selection process, you need to start filtering potential buyers right from the start. Not everyone interested in your property is serious. For some, viewing properties is just a hobby. Others may be genuinely interested, but they might lack the necessary creditworthiness. For property sellers, this usually means unnecessary work. Professional real estate agents have the right tools to separate the fake buyers from the genuine ones. For example, ask for the contact information of potential buyers. Casual viewers typically won't provide this. You can also have potential buyers fill out a questionnaire with questions about the people moving in, their price expectations, and their financing options. If a potential buyer prefers to remain anonymous and only provides vague information, then your efforts are probably not worth their while.

Check the creditworthiness of prospective buyers

As the seller, the crucial point is, of course, that a prospective buyer is creditworthy and can actually afford your property. You can obtain information about their creditworthiness from credit bureaus such as Schufa Holding AG, Bürgel, and Creditreform. It's also advisable to gather information about their assets, such as bank and investment statements, as well as business documents. However, obtaining this information is often difficult for private individuals. Ultimately, the most important factor is the bank's financing commitment. It's essential to ensure that the loan is specifically approved for the purchase of your property.

Buyer's final selection

If you're fortunate enough to have two or more financially sound prospective buyers, you now need to make a final decision. You can, of course, choose based on who makes you the first firm offer. Alternatively, you can decide based on personal preference or draw lots. Or you can consider who would be the best fit for the neighborhood. When selling an apartment, it's often standard practice for the owners' association to approve the sale. You can also sell to the highest bidder. However, you must not accept any additional payments that are not specified in the purchase agreement. Otherwise, you will run into problems with the tax authorities.

Are you looking for support in choosing a suitable buyer for your property? Contact us! We will take care of the credit check of your prospective buyers.

Didn't find what you were looking for? Then read on here:

https://wirtschaftslexikon.gabler.de/definition/bonitaetspruefung-29137

https://de.wikipedia.org/wiki/Bonit%C3%A4t

Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.

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