Financial Position

The most important questions relate to the buyer's financial position:

• Are they a cash buyer? If so, has proof of funds been provided and verified?
• If they need a mortgage, do they have a mortgage in principle from a lender?
• Have they spoken to a mortgage broker or lender about their specific situation?
• Is their deposit readily available, or does it depend on the sale of another property?
• Are there any known issues with their financial position that could affect their ability to obtain a mortgage?

Chain Position

Chain position is one of the most important factors in evaluating a buyer:

• Are they chain-free — first-time buyer, cash buyer, or selling a property that is already under offer?
• If they are in a chain, how long is it and how far along is each link?
• Have all parties in the chain instructed solicitors?
• Is there any known risk in the chain — for example, a buyer who has not yet sold their property?

Readiness to Proceed

A buyer who is ready to proceed can make a significant difference to transaction speed:

• Have they instructed a solicitor?
• Have they identified a surveyor?
• Are they aware of the likely timeline and do they have realistic expectations?
• Have they bought a property before and do they understand the process?

Flexibility and Motivation

Understanding a buyer's flexibility and motivation helps you assess how committed they are:

• What is their preferred completion date and how flexible are they?
• How long have they been looking for a property?
• Have they made offers on other properties? If so, why did those not proceed?
• Why do they want your specific property?

How to Get This Information

Most of this information should be gathered by your estate agent before they present an offer to you. A good agent will qualify buyers thoroughly and be able to answer these questions without you having to ask. If your agent cannot answer these questions, that is itself a signal worth noting. You are entitled to know who you are selling your property to and whether they are genuinely able to proceed.