Selling a house in today’s market is not easy so you might want to wait for a while, until there are fewer homes being offered. If you must sell now, you may have to accept a lower price than you had anticipated. Tactics to consider include:
Get the house in move-in condition. If there will be no additional expense for buyers, the house will be more appealing.
Favor buyers with down payments and solid credit scores. Other buyers may have trouble getting financing now.
Draft contracts carefully. Include a provision that allows for cancellation if a mortgage application falls through.
As a seller, you probably will be better off if the deal calls for the buyer to obtain a mortgage commitment (rather than a mortgage) within, say, 60 days.
The buyer must notify you if that deadline can’t be met. Then you can start looking for a new buyer and you might collect a forfeited deposit from the buyer who couldn’t get a mortgage commitment.
