Author: Carrie Kirby / Source: Wise Bread
I love a bargain, especially when it comes to the biggest purchase most of us ever make: a house. But bargains are hard to come by in this seller’s market, with low inventory driving competition for houses. Nationwide, prices are up 6 percent compared to this time last year, and in some markets, they’re up even more.
In conditions like these, your best bet is to find a motivated seller who wants to close the deal and get what they can, fast. Here are some signs that you may have found one.
1. The listing says so
Some listings come right out and say it: “Motivated seller.” Others may imply as much, by stating “Bring all offers” or something similar. (See also: Sell Your House Faster With These 6 House Flipping Tricks)
2. The owner is moving far away
At open houses or during showings, find out as much as you can about the seller. Ask the listing agent why they are selling the house. If the answer is that they got a job transfer to Europe or they are crossing the country to move in with an ailing parent, they’re probably not going to have a lot of time for protracted negotiations. Even if the agent doesn’t come out and tell you, if it takes them a while to reach the seller for questions, it’s a clue that the seller might be far afield.
3. The owner has a change in life status
The same nosy questions might reveal that the seller is getting married or divorced. Same deal: They’re not going to want to leave their house on the market for months, waiting for the best offer. If the agent doesn’t tell you, look for clues of impending divorce (a subdivided house, half-empty closets) or marriage (seating arrangement charts, wedding veil in the closet).
4. The house is empty
A house that’s sitting empty means that the owner has already moved, and is probably now paying mortgage and utilities on two separate properties….
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