You Need To Find A Seller With Both

Category: Finance, Real Estate.

I ve been a motivated seller before.

The reality is that motivated sellers exist. I was so down on my luck at one point in my life that I didn t have enough money to pay my bills. They always have and they always will. Why? In fact, at any time, in any marketplace, there are always a set percentage of sellers who are highly motivated to sell their properties. Because of the following fact: Most motivated sellers are created by personal reasons, not economic reasons. In most cases, motivated sellers are created by some personal situation unique to that individual.

Market crashes in an entire area are rare. While this personal situation is unique to the seller, you need to understand that there are patterns that play out over and over. When a seller is moving and can t sell his house, he is faced with potential double payments or with the prospects of managing his property as a long distance rental. You will be able to. concentrate your marketing efforts on these known pools of highly motivated sellers. When a homeowner gets into a situation where they have to transfer because of his work or move because of other reasons, the scene is set for a possible motivated seller. The closer you are to that date, the more motivated the seller will be. The owner will usually have a specific date on which he will be moving or leaving.

Finding motivated sellers is fun when you go after it with the right attitude. Many times a home can be an emotional anchor that ties. a person to a painful memory. Ideally, you want to feel like sellers are chasing after you, not you chasing them. When two people who are married or involved in a serious relationship decide to call it quits, it s not at all uncommon for a nice home to come up for sale and quick. It costs too much for one person to live in the home by him or her self. Divorce creates the need to sell a property for three reasons. Dividing the assets is the easiest way to get a clean break in the relationship.

There are many sellers out there working to put the pieces of their lives back together after the painful aftermath of a breakup. Emotions from the relationship are linked to the house, and the owners want a fresh start. These people need your help to get out from the pressing reality of having to deal with their property. These people need your help to get out from the pressing reality of having to deal with their property. There are many sellers out there working to put the pieces of their lives back together after the painful aftermath of a breakup. Debt and money troubles are a reality for many sellers.

One group of homeowners who need your help are those who ve managed to get behind in their payments. Given the choice between foreclosure and selling, many owners choose to sell. They could just be a month or two behind, or they could be much farther behind and face immediate foreclosure. One of the best sources of motivated sellers are landlords who want out. Using purchase option techniques you are able to help these struggling sellers and earn a profit too. There are three reasons they make great motivated sellers.

This is the first half of a purchase option deal. First, they are already used to leasing out their property. Second, they are used to letting someone live in their property, for just one, controlling it months security deposit. Third, since the property was a rental and not their primary residence, chances are they won t need all their equity out of the property to immediately go buy another property. While this isn t nothing down, it is almost nothing down. Many people who inherit property don t want to have any involvement with the property.

If they can t sell it themselves, then your creative offer just might be the best way out for them. They just want to sell it. One of the untapped areas of investing is finding owners who have received a home through probate. Many people who inherit a property are willing to accept much less for the property than it is actually worth. Homes go into probate when a person dies and leaves their house to a relative. After all, it was given to them.

And just like someone who has won the lottery becomes better at spending overnight, the new owner of a home received through probate is often willing to take less in order to turn a house into cash. They didn t have to work hard to buy the house. Growing families can stretch the seams of small houses which sparks the need for a larger place to live. You now know why motivated sellers sell. Of course, for most people this means selling their old house. You also know what signs to be looking for when you are talking with a seller.

Think about the M in motivated seller representing the seller s reasons for selling her motivation. There are two criteria you must examine in your search for a motivated seller: The seller s motivation andt the seller s situation. And the S stands for the seller s situation. First you must dig to understand the seller s motivation for selling the property. You need to find a seller with both. Does the sellers motivation fit into one of the seven categories you just learned?

What else have they tried and what alternatives do they have left? When is their deadline for selling? How open have they been about sharing their situation with you? Next you need to understand the seller s situation. All of these questions will help you determine if the seller has a compelling reason to sell. As an investor, you need to find a seller who is either flexible on the price of the property or on the terms of the sale. Before a property becomes attractive for an all cash price to a savvy investor, the price needs to drop by 30- 40 percent.

If the seller needs full price and all cash at closing, it is almost impossible for you, to make a, as an investor profit on the home. While many investors aggressively negotiate with sellers on the price in the hopes of beating them down by these percentages, the purchase option is designed to allow you to offer a higher price to the seller in exchange for flexible terms. You want someone who does not need all of their cash out of the property up front. As a creative investor who wants to help people and make money, you are looking for a seller who has flexibility on the terms of the sale. Does the seller need her equity out of her home to go buy her next home? What would the seller do if she could not sell? Or does she already own a second home?

If she would rent it out for a few years and then go to sell, she can potentially be flexible on the terms of sale.

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