First and foremost, can they get a loan? Send them to a good Mortgage Lender at a Bank. Remember, nobody dances if the BUYER doesn't bring the party favors, THE CHECK!
Are you willing to pay the closing costs? Usually three to five percent of the loan amount. The buyer will get a "Good Faith Estimate" from the above bank or Mortage company. If he (the buyer ) has only 5% to put down on the loan and can't pay closing costs (Lawyer fees, title search, title insurance, state intangible tax and on and on.) You have no sale. You are saving 7% on Realtors fees, so I'd suggest raising the price of the house by 5% and cover the closing costs for the Buyer. It will make both of your lives easier and you won't lose money in the transaction.
In this market, you have the first and hardest part whipped, you have a willing buyer.
IM me if you have any questions, I can help if you need it. Just another fine service from your friendly Lateral-G crew.
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Jim
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