REBECCA  BURCHER

    Broker / Owner
        REALTOR

      P.O. Box 815
  Milford, NH 03055

 Tel: (603) 305- 5422
 Fax: (603) 386- 6298

Email:  ListNOW
or Email:  Rebecca


Questions you should Ask Your Buyer:

1. "Are you working with an agent?"  This should be the VERY FIRST question you ask any buyer whom you speak with directly, either in person or on the phone. The reason is, because if a buyer has a Buyer Agency Agreement with a real estate agent that agent is legally owed a fee for their services. A traditional Buyer Agency Agreement states that the agent is owed a fee, irregardless of how the buyer comes across the property; this may include FSBO (For Sale By Owner) homes. A Buyer Agency Agreement lasts for pre-determined length of time. If a buyer has signed anything with an agent, they should be very sure what it was. You &/or the buyer may be personally responsible for agent compensation if a Buyer Agency Agreement is in effect. Asking this question 1st can save a lot of trouble down the road.
When a property is listed on the MLS (Multiple Listing Service), there is a buyer agent compensation built into the listing agreement. Because our customers are able to sell their homes themeselves (FSBO) this question should still be asked any time a Seller speaks with a Buyer, for the same above reasons.

2. “Are you pre-approved for a mortgage of at least my asking price?"   “Can you bring a pre-approval letter with you or give me your loan officer’s name?” The buyer or their agent should be comfortable with doing this without a problem. If they are serious they will have already spoken to a mortgage broker & will know what they can afford. (wouldn’t you if you were seriously looking?)

3. "Do you have a home to sell before you can buy this one?"   If YES, "Is it under agreement and have your buyers completed all the contingencies?" "Does your buyer have a home to sell?" (Domino effect) - All important to know because most buyers cannot carry two mortgages at once (a few can), so selling is necessary before they can buy. If someone has a home to sell that is not under agreement with a buyer, then there is NO definitive closing date for property transfer. Be smart; even if they have a buyer for their home, ask all these questions so you can learn how ready-to-act they are. If they do have a home to sell and no buyer yet, re-think whether or not to show your home. Consider this, you showcase your home for "ready, willing, and able buyers."

With a home to sell & no closing date.... ready and willing but NOT able, and they could take months to find a buyer. Do you want to wait for that? Be very polite and say, "I'm sorry, but we have a time period in which we need to close. With so many loose ends, it seems you wouldn't know when you could close. Thank you so much for your interest and if our house is still available when you find a buyer, please give us a call back." This really saves everyone time and undue stress. If they do not have a home to sell.... show ASAP!

Ask Your Buyer


  When a property is listed on the MLS (Multiple Listing Service) through an agent, there is a buyer agent compensation built into the listing agreement.

  Because our clients are still able to sell their homes themeselves (FSBO) these questions should still be asked any time a Seller comes into direct contact with a Buyer, for the same above reasons.