Motivated sellers are basically property owners who are motivated to sell their home or property in many real estate events in Houston and around the world. Motivated sellers can be anyone, it could be you or your neighbor or your own family member. They are gold for the gold diggers i.e. the real estate investors.
While motivated sellers offer great opportunities for investors to strike attractive deals and get them done quickly. So, the question is where to find them? In order to do that, you first need to know who they really are.
Have a look at these types of motivated sellers that you can find around you.
Landlords are individual homeowners who might not be making much money as he wants on a particular property and still wants to sell. They might be selling their home because it might be losing its value or the maintenance might be exceeded in the amount of money he is making.
On the other hand, personal-owned properties with lease agreements allow the landlord to expel the tenant at the end of their term in order to make the process much quicker.
So, if you are thinking of purchasing a new property then this might be the right chance for you.
As you already know that when an individual dies, the person’s property or belongings can be passed down to his or her descendant through the legal process. Some of these belongings may include the home of the deceased.
While some heirs who do not want the property will choose to sell it as soon as possible. That is because no one will be living in the home and they must only be losing money because of the insurance and taxes. If it is done through a legal process in court then the court will assign a representative to sell the home.
While they you can even participate in some real estate events in Houston to sell the home with some profit.
Property Owners in Foreclosure
There are many properties in the world that are waiting to get sold due to foreclosure. However, you might find the deal that you were looking for in a pre-foreclosure or a short sale. A foreclosure home is when the owner does not have the ability to pay their mortgage and is very close to being foreclosed by the banks.
However, there are many long-neglectful mortgage loans that are still under the process of making it to the auction.
A Seller with Storm-Damaged Homes
Every year, the world experiences with thousands of storms and natural calamities. Due to these storms, hundreds and thousands of properties get damage. While some get destroyed other needs to be repaired more than the owners can afford.
In most cases, the owners will be scared of living in those areas or will likely to get fed up even after these areas have proven to recover. So, what they will do is sell their homes.
People with Recent Job Loss
It is obvious that people who have lost their job recently will be looking multiple ways to gather money as to pay the mortgage or property tax of the home. So, some property owners might sell their house to purchase a less expensive one.
In order to sell their home fast, they will sell it at less price or will be willing to negotiate down considerably.
People with Job Transfers
While some people are losing jobs, others might be traveling to different cities in search of jobs. In that case, some people will quickly sell their houses so they can move to a new area before their job begins.
As they won’t have much time to negotiate, they will want to get it sold so he/she can move on to their new life.
Eventually, if the motivated seller has already moved, it might be difficult to find motivated sellers to meet them in person and to be available in any way during the sale.