NEW YORK -- Are you selling your home? Then you should know what -- or whom -- you're dealing with, advises Michael Corbett, the author of "Find It, Fix It, Flip It!" and the new "Ready, Set, Sold!" guide to selling a home.
If your house is priced correctly and is in good shape, you probably won't encounter bargain hunters. But you will find three types of buyers you want to avoid, warns Mr. Corbett:
The Zero-Percent-Down Buyer. If your home is setting a selling-price high mark for comparable homes, "A mortgage company might find it challenging to appraise your house for buyers with little or no money down," writes Mr. Corbett. "You'll have to put your house back on the market again when your buyer's mortgage request falls through."
The Bully Buyer. Nobody likes a bully, and chances are you're not going to like this type of buyer either. You will be inundated with a list of things that are wrong with house -- all while presenting an offer. The inspection process? It will be a nightmare. If you detect a bully, move on. "This bully approach is a prelude to endless negotiations, and his or her trying to obtain concessions by nitpicking on the disclosure and the inspection."
The Sight-Unseen Buyer. You may get an offer from someone who has seen only photos of your house. But that can signal a trick up the sleeve. No one is going to buy a house without seeing it -- this buyer just wants to tie up your house to take it off the market and make a decision later.