If you’re in the process of searching for a house to purchase and want to buy the “most home for the money,” you may want to begin your pursuit with homes owned by “motivated sellers.”
What Is a Motivated Seller?
Simply put, a motivated seller is a homeowner who is overly eager to sell his or her home. For whatever reason, whether it’s a financial need or just the peace of mind knowing that the home has sold, a motivated seller NEEDS to sell his or her home.
With that being said, there are a lot of good reasons why a homeowner needs to sell his or her property. If the seller has already purchased a new home and has moved, a second mortgage payment may be creating a financial bind. Perhaps the seller has already moved from the area and doesn’t want the extra headache and financial burden of owning a second home. In some cases, a seller may not be able to move on to the next stage of his or her life until the home has been sold (i.e., death of a spouse, divorce, etc.). Or maybe, a seller has found his or her “dream home,” but cannot purchase it until the current home has been sold. Other reasons for motivated sellers include medical issues, which can create financial difficulties; and a landlord who has experienced a terrible tenant and no longer wants the stress or financial commitment of owning rental property.
How to Identify a Motivated Seller
Just as there are numerous reasons for a seller to be motivated, there are also many ways to identify a home owned by someone who might be more motivated to sell.
The listing itself may indicate that the homeowner wants to sell his or her property quickly. Catch words such as “Make an Offer!”, “Priced to Sell”, “Sellers Relocating”, or “Sellers Motivated” in the listing are indications that the seller may want to sell quickly. Listings offering a carpet or appliance allowance, or to pay closing costs, may also be signals that the homeowner wants to do everything possible to sell the home.
A listing over 90 days old could also be a sign that the homeowner may be more motivated to sell. In many cases, motivated sellers were those who did not listen to the pricing advice of their experienced REALTOR, only to discover that the “market” determined that their home was indeed overpriced, resulting in very few showings.
In some cases, a homeowner (or even a tenant) may have moved quickly, leaving a few personal items or even some trash behind. In these cases, the homeowner or owner/landlord may be more interested in selling the home quickly than in receiving the highest possible offer.
A home needing a number of repairs may also be a signal that the seller is more motivated. This seller may be willing to negotiate a lower price and a quick sale in return for not having to do anything more to his or her home.
Call Landmark Realty Services!
As a third-generation family-operated business, Landmark Realty Services has the proven expertise you need--whether you are searching for a home or wanting to list your home and sell it quickly.
Call Landmark Realty Services today at 304-842-5298 to begin the process of buying or selling your home!