In today’s slow real estate market, Sellers may feel eager to accept any offer that comes their way. However, a deal is only as good as its ability to close. With the right Buyer, you’ll navigate the process smoothly. But with the wrong Buyer, you could end up wasting time, losing momentum, or worse—seeing your sale fall through.

Here are 6 Buyer red flags to look out for when evaluating an offer on your home:

1. The Virtual Buyer: Have They Seen the House?

   In the digital age, virtual tours and FaceTime walkthroughs are becoming more common. However, a Buyer who hasn’t physically stepped foot inside your home can be risky. The truth is, Buyers who haven’t seen the property in person are more likely to terminate a contract. Whether it’s the yard size, the neighbor’s house, or something else that doesn’t meet expectations, virtual Buyers may face surprises that cause them to back out.

   The solution? If a virtual Buyer makes an offer, consider requesting a hard deposit as compensation for taking your home off the market. This will protect you if the Buyer cancels.

2. A Skimpy Deposit: Lack of Skin in the Game

   Deposits serve as a Buyer's commitment to the deal, so if the deposit is unusually low or delayed, it’s a red flag. Standard deposits vary by market, but if your Buyer is offering significantly less, it could signal potential cash flow issues—or worse, a difficult personality that may cause problems down the line.

   Pro tip: A small deposit now could mean a difficult negotiation later, especially during the inspection period. If the Buyer won’t increase the deposit when asked, proceed with caution.

3. Home Sale Contingency: A Risky Domino Effect

   A home sale contingency occurs when the Buyer’s offer is dependent on the sale of their current home. This creates a risky domino effect, as your sale hinges on the successful closing of another transaction. If their deal falls through, so does yours.

   Before agreeing to this type of offer, investigate the status of their current home. Is it listed? Is it under contract? Make sure to ask for a copy of their contract and check if inspections and other contingencies have already been cleared.

   At a minimum, you should push for a kick-out clause, allowing you to accept another offer if the first Buyer can’t move forward. Also, consider negotiating a higher price to offset the risk of waiting.

4. Long Inspection Period: What’s the Hold-Up?

   Inspection periods can vary depending on the property type, but be wary of Buyers requesting longer-than-normal timelines. In Vero Beach, a typical inspection period is 15 days, with shorter periods for condos or vacant homes and longer ones for more complex properties like farms.

   If the Buyer is asking for a long inspection period because they want to attend but can’t make it, weigh their request against market activity. If they haven’t physically seen the house yet, this could be a reason to tread carefully.

5. No-Name Lender or Weak Prequalification Letters

   A prequalification letter is often the first sign of a Buyer’s financial ability. However, not all letters are created equal. Online lenders, in particular, may provide prequalifications with minimal due diligence, raising doubts about whether the Buyer is truly approved.

   Pro tip: Don’t automatically dismiss an online prequalification, but have your real estate agent contact the loan officer to gauge how thoroughly the Buyer’s file has been reviewed. If it doesn’t inspire confidence, consider countering with a request for the Buyer to work with your preferred lender. And beware of big banks—while they may seem reliable, they can often be difficult to work with due to slow underwriting and poor communication.

6. Not All Buyers Are Present: Who’s Missing?

   If multiple Buyers are involved, it’s crucial that they’ve all seen the property. Often, deals fall apart when one party (usually the spouse or a family decision-maker) hasn’t viewed the home. Similarly, younger Buyers who rely on the “Bank of Mom and Dad” can face challenges if the parents don’t agree with the purchase.

   To avoid this pitfall, ensure that everyone involved in the decision has toured the property before moving forward.

   Protect Your Sale by Spotting These Red Flags Early

   Selling your home is a significant transaction, and with the right Buyer, it should be a smooth process. However, spotting these Buyer red flags early can save you from headaches down the line. Always consult with your trusted real estate advisor to make sure you’re evaluating offers carefully and minimizing risk.