Finding the Right Seller
May 19th, 2008 categories: For Buyers
The best seller is one who is highly motivated. A highly motivated seller is more likely to sell his or her house at a lower price, insist on less contract stipulations, and allow for a shorter closing time. It also helps to determine why a home-owner may be motivated to make a quick sale; learning these motives will help you make a
reasonable offer and help the seller get what they want: a timely sale.
When given the opportunity to meet with sellers, ask them why they are selling. The reasons could be anything from a job change, to a need for more space, to financial problems. If you can solve their problem, whether it stems from time or money, do so. For example, if the sellers are highly motivated because they need to move quickly, give them a fast sale – and a lower price. If you can make an offer (even a low one) that gives them cash in a short amount of time, they are more likely to accept.
There are also some sellers that you should avoid. Not every seller is as genuinely motivated as they make themselves to be. Some possible hints:
1) They stall on having the home appraised or inspected
2) They are unable to clear up liens against their property
3) The seller does not own 100% of their property
4) They push back the move-out date
5) The seller does not have a replacement property or back up plan
etc. etc. etc.
It is impossible to find the perfect seller, but it is possible to find out which sellers are legitimate, and which ones will amount to nothing more than a headache and lots of time wasted!
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