What exactly does it mean when you hear the term “Motivated Seller”? To many this means that the individual is desperate to sell and you will be able to steal the property with a lowball offer. Many times this term will be used by the listing agent in an attempt to generate interest in the property but by no means does it necessarily mean they will be open to low ball offers.
The price may be inflated in the 1st place by a seller who refuses to see reason or has an emotional attachment to the home so the selling agent will indicate that the seller is motivated in order to garner some attention.
Other things to consider are the seller is very willing to negotiate on price and/or actually enjoys the negotiation game and is looking to engage in some back and forth with potential buyers. Maybe they are looking to start a bidding war on their property and drive up the selling price when buyers compete with each other to secure the property. It could also mean that seller is willing to offer the potential buyer some other possible concessions such as closing dates or chattel on the property like including the riding mower or some such contrivance. It could also indicate something more sinister like the house has defect and the seller wants is gone before it is discovered.
So the term has many implications and can be interpreted in various ways. If you want to be considered a motivated seller it may mean that you are willing to consider all offers that are presented, or are in fact willing to offer some inducements to the buyer such as the aforementioned riding mower, closing costs, pool equipment or whatever it may be. Just remember that in today’s age of social media and connectedness buyer and sellers are much more market savvy and if the deal sounds too good to be true…it often is just that.
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