Finding a motivated seller, what to look for and why. The reason it is so important to finding a motivated seller, is because that is what makes an awesome real estate transaction.
When you are looking to purchase real estate, the seller you want to look for, is one that wants to sell their home. They will be easier to negotiate with, more eager to please, and finally want to get the process over with.
If you spend your time working with sellers that are unmotivated, you will be spending a great deal of time energy, and money on a deal that may never go through. This can not only be discouraging, but also devastating to some.
If you have ever tried to push a friend up a rope when they were trying to learn to climb, or try to walk up a slippery hill that others have walked up so many times it is ice. Trying to work with a seller who is not ready to sell can be much like this.
This is why it is not suggested to fall in love with a home, until the closing is complete. You could find that you will be disappointed or paying a great deal more for something that was not that great.
The first step to finding a motivated seller is to let everyone know you want to buy a home. You can do this in several different ways.
1. Tell friends, family and co workers
2. Find a buyer's agent or Realtor to have them start looking
3. Find listings and start putting the word out that you want to look through email and phone calls
4. Run an ad in the local newspaper. This can show others that you are looking to buy a home. They will want to call you if they are motivated.
Remember the more people you talk to, the higher amount of options you will have to look at and find the best property with the most motivated seller.
Your best friend in all this is going to be your buyer's agent or Realtor. They will start to get you listings of homes with the requirements you wan right away. They will start by sorting through the information you give them, set up a criteria, and then show you homes that will fit that criteria.
You may be able to receive listings from your real estate professional on a daily or weekly basis. This will give you a chance to find the right people you want to work with. The Realtor or agent will start setting up meetings if you find a home you find interesting. They will also be able to let you know what kind of seller you would be working with.
The best thing about a Realtor or buyer's agent is that they want you to buy a home, and will be working for your benefit. They will also be doing a great deal of the legwork for you. You may even find that your Realtor or agent has homes for you to look at that have not even hit the market yet.
Once you have the listings you are interested in, you can start talking to the sellers. There are a few things that you will want to look for. What makes a motivated seller?
Divorce
Death
Job transfer
Financial distress
While it is never good to be happy about another person's distress, it is a time that they need someone to purchase their property. They need the money from the sell, or they need to be rid of the property for some reason. Therefore they will be more likely to be motivated to sell.
When you have found a motivated seller, you will find that you will not only get a better deal, but also the closing process will go faster. This will make the overall transaction more successful.
Finding a motivated seller is no secret. Now you know how, and why. All you have to do is a little homework and research and you will find just what you are looking for..
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