Be sure the buyer is qualified...
...Silly Sentence: If the buyer doesn't have any money, they can't buy your property.If that seems to be "a given", then why do you suppose so many accepted offers never get to closing?There are exceptions, of course. There are exceptions to nearly every rule. But, when rules are followed properly, chances of a deal going down are extremely thin.

Whether you are working with a REALTOR® or you are selling "By Owner", require buyer statistics. Use a buyer info sheet that gives the buyer(s) employer(s). Ask for annual salary(ies) and debt that will take 6 months or more to pay, i.e. cars, plastic, consumer loans, etc.

Of course, a pre-qualified, or better yet, a pre-approved buyer is the best kind. If you don't have that, the buyer information work-up is really necessary.

Let's do a basic work-up and compute the buyer(s) annual income.

Example:

His--$43,000

Hers--$42,000

Combined income--$85,000

Typical ratios are:
$85,000 divided by 12 = ________

multiplied by 28% (PITI) = ________

multiplied by 36% (Full debt) * = ________

Assume debt:	Car $283
	Car $325
	Plastic $125
	Boat $130
	Student loan $83
	Total $946
Net of 36%	_________
20%	_________
Which is smaller	_________
Subtract 1/12 taxes	_________
Subtract 1/12 Insurance	_________
P & I allowed	_________

Now compute the per $1,000 payment on the prevailing interest rate (we'll use 7.5%).

Each $1,000	________
Figure the P & I:	________
Divide by $'s per $1,000	________
___________Expected allowable mortgage	________

BUYER GAVE NO INFORMATION?
I recommend that you counter with the following:
"Seller may, at seller's option, withdraw from this offer at any time prior to receiving a statement of pre qualification from the lender of buyer's choice."

NOTE: Don't accept any offer unless you know if they buyer is qualified.

CASH BUYER?
I have seen cash buyers turn out to be "shams." I require the following clause in any cash offer:
"Seller reserves the right to withdraw from this offer if buyer, within 7 days of accepted offer, does not provide a written statement from the financial institution of buyer's choice that the buyer has, on deposit, funds sufficient to complete this transaction."

*Other debt ratios are allowable, FHA is typically 29/41. Fed VA is typically 29/41. Ask your lender for their loan to income ratios.