"Key takeaways Selling your home should be exciting, not stressful. But not all offers are created equal. According to the National Association of Realtors, 11% of home sales encounter at least one delay, most often tied to financing or appraisal issues. Knowing what to look for in an offer can save you time, money, and frustration. Here are seven red flags in an offer on a house that every seller should recognize."
"1. Low earnest money deposit Earnest money shows a buyer is serious. If the deposit is unusually low or missing altogether, it could mean the buyer isn't fully committed. Serious buyers usually put down 1% to 3% of the purchase price. 2. Virtual buyers who haven't seen the home Some buyers make offers without touring the property in person. While this may seem harmless, it can backfire if they change their mind after inspection."
Selling a home should be exciting, not stressful. Eleven percent of home sales encounter at least one delay, most often tied to financing or appraisal issues. Sellers should watch for low or missing earnest money deposits; serious buyers usually put down 1% to 3% of the purchase price. Virtual buyers who have not toured the property in person may back out after inspection. Home-sale contingencies create delays unless paired with a kick-out clause. Unusually long inspection periods increase cancellation risk. Verify strong financing with a preapproval from a reputable lender and require appraisal-gap coverage for over-asking offers.
Read at Redfin | Real Estate Tips for Home Buying, Selling & More
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