As youmay have begun the house hunt online or elsewhere, there’s a prettygood chance that you have looked through different mediums ofadvertising, and have come across the term “motivated seller” atime or two. Off the bat, it may strike you as a bit odd, becauseeveryone that has a house on the market eventually wants that houseto move. This is a word that is enticing to buyers by all means, butyou need to think about a few different things before you getstrongly drawn to a listing put up by a motivated seller. Having aclearer picture of what these individuals are, and what types ofeffect they can have on your search will help you drastically.
Aseller that is truly desperate isone that may have had their house on the market for way too long,have to relocate for work immediately, and could very well be out oftime to make the money they could under different circumstances.Probate and divorce are prime reasons why these can pop up onto themarket, and many times the owners have very rapid plans to moveelsewhere. This is the point where they may not need to hide just howquick they have to get rid of the property, but still proceedpolitely and with caution.
Haveyour agent put together carefully what you really think is a fairmarket price, and strategize carefully about what you think a verylow offer could do for you. This is when the negotiation can get verytricky, and you need to be alert and proactive. Even if what you arethinking of offering about is just around 15% under the asking price,you are going to have to realize that you may have to walk away. Insome current markets that still have certain pockets of disparity, a15% under offer is accepted right away, but when you go beyond that,you could be really treading water.
Somesellers that are attempting to act very motivated are just using allthis time and effort to try and begin a flat out biddingwar. There are many instancesduring which this will happen that don’t even take place withincredibly distressed properties, just properties that need to sellas any other. Always have your buyer be pre-approved before theyhunt, and realize sometimes that this could be an off-center ploy toget buyers to outbid each other until offers are eventually put inthat are over asking price. You can see this in cities from coast tocoast, and many times, it absolutely works. Try to stick out and makeyour offer personal, and if you writer a letter to the seller, youmay appeal to their judge of character, and present the offer youwant.
Anothertype of seller that is common in today’s market is one that had thebad fortune of making an investment that did not quite work out forthem, yet doesn’t want to disclose any aspect of their duress. It isnot always just the standard inspection that can provide you theanswers to what issues are going on with the house: combing throughlocal resources to find city planning reports will let you know ifthere any major construction projects planned in the near future,which would alert you to key happenings such as a major freeway orother urban span popping up nearby. Knowing just what you’re dealingwith in any aspect of a claimed motivated seller can help you greatlyduring the junction of time at which is most important: when you maybe able to acquire a property that is truly motivated to move, therewill be some very positive signs that the door is more than open fornegotiation.