How Do I Know an Assumable Buyer Can Actually Close?

Tying up your home for 60 to 90 days with a buyer who was never going to make it to the closing table is the fear that keeps sellers from saying yes to assumable offers. Ryan walks through exactly how to vet a buyer before you ever go under contract so that scenario never happens. Three things need to be attached to any assumable offer worth accepting: proof of funds for the equity gap, a pre-qual from a lender showing their income can carry the payment, and an assumption processor named in the offer. An offer without all three is not a serious offer. He also makes the case that assumable buyers are actually less likely to walk than conventional buyers because the math on their side is too good to abandon. Saving $1,100 a month on the same house means these buyers push through when the bank asks for the same document three times. Colin and Beth's story shows what the full picture looks like when it is done right: multiple competing offers including conventional and cash buyers drove the price up, and they got to pick the strongest one on the table. Ryan also plays out the worst case honestly: if a vetted assumable deal still falls apart, you keep the earnest money, your credit is untouched, and you relist with the same rate that attracted buyers the first time. Annoying, not fatal. Hit up assumableguy.com or DM @the.assumable.guy on Instagram.