Tim and Julia Haycocks, local independent estate agents and owners of Stowhill Estates Berkshire, are here to answer your property questions, sharing straightforward advice, honest opinions and practical insight for homeowners across the Berkshire housing market. Today, they’re discussing how to identify a serious buyer …
“We’ve had interest from someone who loves our house, but they haven’t sold their own property yet. Should we take them seriously or only deal with buyers who are ready to go?” D.S, Warfield
This is one of those questions where the honest answer is, “it depends”.
Although the interest is flattering, the truth is a buyer who has not sold is not the same as a buyer who is ready to proceed. That matters, particularly if you are serious about moving and need certainty.
In most cases, sellers will naturally prefer someone chain-free, in rented accommodation, under offer, or with funds already available.
But that does not mean you should dismiss an unsold buyer completely. Some of them go on to become excellent buyers. The key is working out whether they are realistic or just having a nice Saturday afternoon looking at houses they are not yet in a position to buy.
There is a big difference between, “Our house is going on the market next week, we’ve had valuations, we know our price, we’re motivated and we want this area,” and, “We might sell at some point if we find something we like, but we don’t really know what ours is worth and we haven’t spoken to an agent.”
The first person may be worth keeping warm. The second is not someone I’d be making life decisions around.
If they love your house, your agent should be asking sensible questions. Is their property on the market? If not, when will it be? Have they had valuations? Are they realistic on price? Do they need a mortgage? How quickly could they move? Is their home likely to sell easily? Are they prepared to use the same level of urgency they are asking from you?
This is where good qualification matters. It is not about being rude or dismissive, it is about protecting you.
If you accept an offer from someone who has not sold, you may find yourself effectively waiting for their house to sell before your own move can really begin. Sometimes that is fine, especially if you are not in a hurry. Sometimes it creates weeks of uncertainty and frustration and you’ll have less control of the sale of someone else’s property.
So yes, take them seriously if they are serious. But don’t confuse enthusiasm with proceedability.
A buyer saying, “We love it” is lovely. But make sure they have a plan of how they’ll get themselves into a proceedable position as quickly as possible and put a timeframe on how long you’re willing to wait.
All the best,
Tim & Julia
