5 Red Flags Atlanta Homeowners Need to Look for When Accepting an Offer for Their Property

Selling a home can feel very stressful and overwhelming, especially in a competitive market like Atlanta. When you receive an offer, it can be tempting to accept it immediately, but it’s important to take a closer look to ensure that the offer is legitimate and in your best interest as the homeowner. In this blog post, we’ll explore five red flags Atlanta homeowners need to look for when accepting an offer for their property.

1. The Offer is Too Good to Be True

If an offer seems too good to be true, it probably is. While a high offer may be tempting, it’s important to consider whether it’s realistic and financially feasible. Make sure to do your research and compare the offer to recent sales and market trends in Atlanta. If the offer is significantly higher than the market value, it could be a red flag, as most standard lenders will not offer financing that is unreasonable for a property. When you receive an offer that is disproportionately high, the sale is likely to fall through, and you will find yourself back at square one. 

2. The Buyer Has a Contingency Sale

A contingency sale is when a buyer makes an offer on your home that is contingent on the sale of their current property. While this is common, it can also be a red flag. If the buyer’s property doesn’t sell, they may not be able to follow through with their offer for your home. It’s important to carefully evaluate the buyer’s financial situation and their ability to close the deal on their house before deciding if you want to sell them yours. .

3. The Buyer Has a Poor Credit Score

A buyer’s credit score can be a good indicator of their ability to obtain financing and close the deal. If a buyer has a poor credit score, it may be a red flag that they won’t be able to secure financing or may not be able to make payments on time. The lender knows this and may be hesitant to fund the deal. Make sure to carefully review the buyer’s credit report and consider their financial stability before accepting an offer.

4. The Buyer Requests Unusual Terms

If a buyer requests unusual terms in their offer, it could be a red flag. For example, they may request an extended closing date or ask for repairs that are not typical. While some requests may be reasonable, it’s important to carefully consider them and consult with your real estate agent or attorney before accepting the offer. You don’t want to spin your wheels to appease a buyer only to have the whole thing fall through. 

5. The Buyer Has a Questionable Background:

If a buyer has a questionable background, it could be a red flag. Make sure to conduct a background check and review their employment and financial history. If there are any red flags, it’s important to carefully evaluate the buyer’s ability to follow through with the purchase and ensure a smooth closing process. People with a sentimental attachment to their homes want to feel good about who they sell to. 

Accepting an offer for your Atlanta home can be exciting, but it’s important to carefully evaluate the offer and the buyer to ensure that it’s legitimate and in your best interest. By looking out for these five red flags, Atlanta homeowners can avoid potential pitfalls and ensure a successful sale. Are you ready to sell your home in Atlanta? Big Ron Property Solutions can help you weed out the bad offers. Reach out to our team today to learn more! (404) 977-5054