Finding the right buyer for your property: How to proceed
The selection of the right buyer begins long before the first viewings. To avoid unnecessary effort, you should select prospective buyers who are seriously interested in your property. We will show you in three steps how to find the right buyer.
Step 1: Avoid sightseeing tourism
Not every interested party who contacts you is really ready to buy. To avoid unnecessary viewings, it is advisable to define clear criteria for the pre-selection:
- Full contact details: Interested parties who wish to remain anonymous are usually not seriously interested.
- Questionnaire: Let potential buyers provide information on people, price expectations and financing options.
- Online tools: Use 360-degree viewings where interested parties have to provide contact details.
Step 2: Carry out a credit check
After the viewings, it is important to check whether prospective buyers can afford the property. There are various options available to you for this:
- Credit agencies: Providers such as Schufa, Bürgel or Creditreform supply information on solvency and indebtedness.
- Self-disclosure: Ask interested parties for a self-disclosure and proof of assets, e.g. account and deposit statements.
- Financing commitment from the bank: Make sure that the loan has been approved specifically for your property.
Step 3: Decision criteria for the final selection
If you have several solvent interested parties, you can make your choice based on the following criteria:
- First-Come-First-Serve: The fastest buyer with secured financing wins the bid.
- Sympathy: Your decision can be based on personal sympathy as long as it is not discriminatory.
- Neighbourhood: Choose buyers who fit in well with the existing neighbourhood.
Note: You should avoid making additional payments that are not listed in the purchase contract in order to avoid problems with the tax office.
Conclusion: The right buyer makes all the difference
With a targeted pre-selection and credit check, you will not only find the right buyer, but also ensure a successful sale. Rely on a structured approach to avoid unnecessary effort.
Get non-binding advice now
Robert Schüßler
Property valuer (EIA and IHK)
Note: This text is for information purposes only and does not constitute legal or tax advice. Please consult an expert if you have individual questions.
