When you are looking to buy a property, you want the best deal. Who wants to pay more than they have to? When home searching, it’s vital to understand which type of seller you are negotiating with. Is this a Motivated Seller or is this a Non-Motivated Seller?
The Motivated Seller Generally sellers are motivated. Many sellers are in this scenario: They are underwater on their house, so unless they continue to make home payments on it for the next seven years they will continue to lose equity. Interest rates may have been very high when they first bought, so unless they’ve got a refi, they want to go get into a home where they are not spending their money a hefty mortgage.
Quick ways to find a motivated home seller
The pluses and minuses of a motivated home seller. Motivated sellers are generally a great things for buyers. When you work with a motivated seller, they pay closing costs for you, and are usually willing to negotiate their price. Make sure you consider that when writing up your offer. A motivated seller also leaves good things behind. Furniture may entice home shoppers, and you’ll probably keep the fridge as well. One disadvantage of a motivated seller may be the appearance of the property.
The Unmotivated Seller
When you deal with an unmotivated seller, you may want to just start searching for another home now. Get ready to pay to much, to have deadlines fall behind, or to have negotiating offers rejected. The sellers hope to rope in a naive buyer – somebody who is going to pay far more than what the market says the home is worth.
How you can tell if the seller is unmotivated.
The home is occupied and it is already giving them money.
The home owners have already rejected previous offers.
The home has been on the real estate market for more than five months and the price has never come down.
There is nothing on the exterior of the home indicating the house is for sale.
Listed far above what the market value is
You may ask yourself a few times ‘do they really want to sell this home?’
The pros and cons of unmotivated sellers.
With an unmotivated seller there are very few good things. The one big one that stands out is that it will make you question your desire to purchase this property, and you may leave this one and find an much more enticing place. Unmotivated sellers are not willing to work with you.
One of the most vital places to put these tips to action is DC Houses. If you like this blog, learn more at Real Estate Blog
The Motivated Seller Generally sellers are motivated. Many sellers are in this scenario: They are underwater on their house, so unless they continue to make home payments on it for the next seven years they will continue to lose equity. Interest rates may have been very high when they first bought, so unless they’ve got a refi, they want to go get into a home where they are not spending their money a hefty mortgage.
Quick ways to find a motivated home seller
- These homes are priced low.
- Homes which are typically on the market for more than 180 days increases the anxiety of the seller.
- Less offers are made during the winter, so sellers are more motivated during the cold seasons.
The pluses and minuses of a motivated home seller. Motivated sellers are generally a great things for buyers. When you work with a motivated seller, they pay closing costs for you, and are usually willing to negotiate their price. Make sure you consider that when writing up your offer. A motivated seller also leaves good things behind. Furniture may entice home shoppers, and you’ll probably keep the fridge as well. One disadvantage of a motivated seller may be the appearance of the property.
The Unmotivated Seller
When you deal with an unmotivated seller, you may want to just start searching for another home now. Get ready to pay to much, to have deadlines fall behind, or to have negotiating offers rejected. The sellers hope to rope in a naive buyer – somebody who is going to pay far more than what the market says the home is worth.
How you can tell if the seller is unmotivated.
The home is occupied and it is already giving them money.
The home owners have already rejected previous offers.
The home has been on the real estate market for more than five months and the price has never come down.
There is nothing on the exterior of the home indicating the house is for sale.
Listed far above what the market value is
You may ask yourself a few times ‘do they really want to sell this home?’
The pros and cons of unmotivated sellers.
With an unmotivated seller there are very few good things. The one big one that stands out is that it will make you question your desire to purchase this property, and you may leave this one and find an much more enticing place. Unmotivated sellers are not willing to work with you.
One of the most vital places to put these tips to action is DC Houses. If you like this blog, learn more at Real Estate Blog
Filed under News by on Mar 11th, 2012. 