What is a motivated seller?
What does someone mean when they say they are a motivated seller and what do estate agent and realtors mean when they say they are looking for one?
Basically they are looking for someone who want to sell their property quickly and is willing to compromise on price in order to do so.
Basically they are looking for someone who want to sell their property quickly and is willing to compromise on price in order to do so.
What is a motivated seller?
This seems like a strange compromise to make for most people. Generally, we a re willing to wait as long as it takes to get the best price for our property. It is for most people their biggest asset and it makes financial sense to get as much value for that asset as possible. However, motivated sellers usually find them selves in unusual or difficult circumstances which require a quick sale at a lower price rather than a sale which takes longer to complete but offers a greater profit at the end.
Consider the different situations people might find themselves ion where a quick sale is more vital than getting the best price.
Clear debts. The equity in your home can be a great way to get out of debt. If refinancing through a bank is not an option selling to a cash buyer will let you get your hands on the money quickly without the red tape or costs associated with traditional banks.
Repossession. If you are about to lose your home when the bank repossesses or forecloses on you then rent back might be an option for you. Some cash buyers will buy your home, clearing your debts in the process, and let you rent it back from them .As a long term strategy for building your assets tis is not a good idea but if you need money quick it can be an option. Especially if confidentiality is important to you.
Moving job or personal circumstances: If you need to relocate quickly for a new job or promotion then you can sell quickly and be on your way. The same applies after a relationship breakdown. Selling quickly can help you move your life on faster without waiting for an estate agent to sell a co-owned property you can sell fast and make the relationship break cleaner and quicker.
Naturally, there is a big demand for motivated sellers, especially from companies that buy houses, as properties bought cheaply can be resold soon afterwards at market value making the buyer a nice profit in a relatively short space of time.
If the original sale price was low enough then the new owner can even offer the property on the open market at a below market value and still sell quickly themselves netting a tidy profit on the way.
Consider the different situations people might find themselves ion where a quick sale is more vital than getting the best price.
Clear debts. The equity in your home can be a great way to get out of debt. If refinancing through a bank is not an option selling to a cash buyer will let you get your hands on the money quickly without the red tape or costs associated with traditional banks.
Repossession. If you are about to lose your home when the bank repossesses or forecloses on you then rent back might be an option for you. Some cash buyers will buy your home, clearing your debts in the process, and let you rent it back from them .As a long term strategy for building your assets tis is not a good idea but if you need money quick it can be an option. Especially if confidentiality is important to you.
Moving job or personal circumstances: If you need to relocate quickly for a new job or promotion then you can sell quickly and be on your way. The same applies after a relationship breakdown. Selling quickly can help you move your life on faster without waiting for an estate agent to sell a co-owned property you can sell fast and make the relationship break cleaner and quicker.
Naturally, there is a big demand for motivated sellers, especially from companies that buy houses, as properties bought cheaply can be resold soon afterwards at market value making the buyer a nice profit in a relatively short space of time.
If the original sale price was low enough then the new owner can even offer the property on the open market at a below market value and still sell quickly themselves netting a tidy profit on the way.
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Percy Carmichael here! Welcome to my pages. Property is my game so here I've decided to put together some techniques and ideas to help you get what yo... (more)
