Having a highly motivated seller is a huge advantage in any property purchase because it can lead to a quick and easy transition period and gives you good negotiating power. And while many real estate listings often show eagerness and enthusiasm this is often driven by their listing agent. So how do you figure out if the sellers are desperate to sell?
1. The seller no longer lives there
One of the biggest signs the seller is looking for a quick sale is that they have already moved on and are living somewhere else. In many cases it can be hard for sellers to line up the purchase of their next property with the sale of their current one. And if they end up moving out before selling the current property, it is sitting there costing them money that they simply don’t have. Sellers in this situation are very keen to have a quick transition.
2. Neglected curb appeal
A typical seller will do everything they can to increase the value of their property—mow the lawns, clean the yard and inside the house, tidy up any rubbish and fix anything clearly broken. So when you’re inspecting the property if notice that the gardens are overgrown, the yard is untidy or entrance stairs are a little rickety it can be a big sign that the sellers have been preoccupied with other stresses in their life that are causing them to sell.
3. Sellers are quick and transparent with any questions or requests
Often sellers aren’t too quick to tell you about any issues with the property. Especially if you have only spoken to them once during an inspection, they might be inclined to let any problems go under the radar for as long as possible. If you notice, however, the sellers are more than upfront with any issues or are extraordinarily quick replying to your emails, calls, or requests, it can be a sign that they are looking for a quick sale. This transparency is because they know any problems might come back to bite them during building inspections and that will only slow the process down. In these cases you can use any problems they describe and their eagerness for a quick sale to settle on a price that suits you better.
4. Property listed by an estate
I’ll never forget the first property my brother ever bought was from some adult-aged grandchildren that had just inherited their grandmother’s property when she passed away. The reason it’s memorable is because the children were so eager to see the cash value from the property that they went straight to market with it. And they were willing to accept any price that roughly represented its value just to receive the inheritance they were promised. By understanding the situation the sellers were in, he snagged quite a deal.
5. Addition to the family
The last thing to keep a look out for during an inspection is any signs that the sellers might be moving on to a larger house because they’ve had a recent addition to the family! Finding a cot barely fitting into the corner of the master bedroom is a great indication of that and often these families want to move quickly and easily as there’s a lot going on in their lives.
Not every seller is desperate enough for a quick sale that you can make solid movement on the property price, but if you can keep an eye out for these five signs then you will be ready if you ever come across one and that could save you thousands.
If you feel like this post has helped you in any way, you can say thanks with a facebook like!
Subscribe to our newsletter for a round-up of the month's most popular articles.
We hate spam too. That's why we only send out monthly emails of the best bits.