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There are many kinds of Motivated Sellers.

The most common reasons today to motivated a seller to offer a better than normal, or reduced price on their home, or condo, or any kind of real estate falls into 3 distinct categories.

RELOCATION -

Most often this is related to employment. If a person is transferred, from one area of the country to another they normally have to sell their present home in order to have the down payment on their new home. They may be willing especially in today's market to give up some of their equity to facilitate a fast closing. To get this kind of deal you, the buyer must be liquid and able to close quickly. The way to do this is be pre-qualified for a mortgage, have your estimated closing costs ( such as down payment if needed) on hand.

The good side is these deals are usually on well maintained homes, in good neighborhoods,and have less chance of tax liens, or other liens that could effect you receiving a clear title.

The pit falls are also the timing, you will need an real estate agent (like us) who has good relationships with home inspectors, to get them out quickly. You also need to able to make your decision quickly, so work closely with our agents who know the market, and know the neighborhood that the home is located in.


Financially Motivated-

They can't keep up with their mortgage payments.This is an interesting opportunity. Many of these sellers are in a real bind. They need a quick fix. Some times you can take over their existing mortgage, but if it got them in trouble, most luckily it is not a good deal for you either. But, that doesn't mean you can't negotiate with the existing bank to make a better deal. If there is equity in the property the seller is more willing to give it up, to make the problem go away.
The pitfalls here can be liens on the property other than the mortgage holder. Also if they can't pay their bills they certainly have not kept the property up.

Probate sale.This is a real good one to look out for. If a property is part of a will, and given to more than one person it is sold and the money is split among the beneficiaries. In this type of sale the parties may be willing to forego some equity for a quick sale, epically if the probate attorney is managing the properties for them eating up the equity in charges for services . Usually these properties are well maintained, and have no liens on them.


They didn't keep it up.

These sellers are ones who have let the property go, and just don't want to deal with it anymore. These properties are what house flippers are looking for. They know it needs work, and understand the process of bringing it back to current market condition. The pitfalls are many and you can read more about these home on the House Flippers page.

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The following towns have listings with Movitated Sellers