Posted: Tuesday, October 10, 2023
Author: Vinny Delgado, Ranch Sales | Licensed in MT
Vinny,
I have reservations about the individual interested in purchasing my ranch, as their financial situation appears somewhat questionable. Should I be concerned? What precautions can I take to ensure they have the funds necessary to purchase my ranch?
Dear Concerned,
This is certainly a valid apprehension to have when selling a ranch. No one wants to go through the motions of taking their property off the market only to find out in the 12th hour that the buyer never had the funds to close. You or your broker should diligently prequalify the buyer if there are doubts about financial qualifications. These qualifications typically come from a bank, accountant, or attorney who can verify that the buyer has the funds to purchase your ranch. In most cases, anyone providing financial capabilities will also provide contact information so you can follow up with them.
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