Acquiring Low Cost Real Estate from Motivated Sellers
by: S.A.Johnson |
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Most investment markets price investments efficiently, meaning that the price is set by the forces of supply and demand among buyers and sellers. The real estate market doesn't always work that way, which creates opportunities for investors to find actual compelled to sell their property beneath market value for financial or personal reasons.
- Financially Motivated Sellers: Sellers who must sell their property to get cash in a hurry. Often, these sellers have suffered a financial calamity, such as a loss of a job that has rendered them not able to cover the costs required to own the property.
- Personally Motivated Sellers: Sellers who have experienced an unfortunate personal event, such as the death of a family member or a divorce that has compelled them to sell.
How to Find Properties from Motivated Sellers
Often, homeowners or real estate agents include "motivated seller" wording in the advertisements they place for the property - a clear indicator that the seller will look at offers less than the property's asking price. Other ways to reveal properties with motivated homeowners include:
- Local Networking: Talk to the residents of houses next to or near for sale properties that interest you. Often, neighbors will know why the seller is selling, which can help you evaluate how motivated they are to sell the property at a low price.
- Consulting Real Estate Agents: Visit a local real estate agency and ask to speak with agents who have property listings owned by motivated sellers. Since the agent's interest is always to sell the home as soon as possible, he or she will be happy to show you listings that could lead to a quick sale, even at a bargain price.
- Scanning Local Publications: Read the real estate or classified section of local magazines and newspapers. Look for properties that remain in the listings week after week. Often, these properties have motivated sellers - just be sure to check out the property thoroughly to determine why no one else has bought the property yet. It may be languishing on the market for a good reason, such as a bad location, second-rate build quality, or a nearby building project.
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About the Author
Earn money by helping homeowners sell their homes in 2 weeks. Investors..get top dollar and all cash at closing. Real Estate Professionals...flip short sales or REOs using our private investor funds!
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