Financial security is a critical aspect of selling your property. Imagine you have found a promising buyer and have made it to the notary appointment. Everything seems to be going smoothly until suddenly the financing falls through. The potential buyer cannot complete the purchase, and you are faced with a withdrawal from the contract. This not only means a setback in the sales process, but can also lead to financial losses.
Why is a purchase cancellation such a far-reaching problem? The reversal of a real estate sale and the re-marketing of the property involve time and expense. But that's not all. Every failed sale attempt leaves its mark. Potential buyers who come across your listing again may become suspicious and doubt the quality of the property. This has a direct impact on the sale price and can lead to further delays.
To avoid these pain points, a thorough credit check is essential. Before signing the contract, you must ensure that the potential buyer is financially capable of paying the purchase price and incidental costs. These costs are joint liabilities for which both the buyer and seller are liable.
Risk assessment in real estate sales
How can you check the creditworthiness of prospective customers in advance? There are various options:
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Self-disclosure:
Request a self-disclosure from the potential buyer from Schufa or a similar organization. This should be up to date and contain information on personal data, credit scores, and payment history. -
Credit agency:
You can also obtain information from credit agencies such as Schufa. However, please note that this may involve costs and bureaucratic effort. -
Bank financing commitment:
Request a financing commitment from the potential buyer's bank. This will ensure that the financing is secured and that no unforeseen problems arise.
Would you like to ensure that your potential buyer is solvent?
If you want to ensure that your potential buyer is solvent and avoid unpleasant surprises, we are happy to assist you. Contact us for further information.
