How to find a motivated seller property in today’s market
Finding a motivated seller is one of the challenges all real estate investors must face. You would think that anybody with a home for sale, whether a private owner or a bank in possession of a foreclosure would be a motivated seller, but this is not always the case.
Sometimes an owner wants more than what their property is worth. This can be tens or hundreds of thousands of dollars apart from what you, as a savvy investor, would need to purchase the property for in order to realize a profit at the end of the day.
Banks are a similar story. One would think that they’d be itching to get each and every foreclosure off their books and take the loss. But in many cases, they are willing to stick it out in the hopes of a market correction that will help eat away at their loss, keeping them from being a truly motivated seller.
This might leave you wondering what a real estate investor has to do to find a motivated seller. The answer is they need to focus on different types of properties to find these motivated sellers. Two such investment types are pre foreclosures and wholesale properties.
With pre foreclosures, you are dealing with a motivated seller because if they don’t sell, they are going to be foreclosed on, plain and simple. This will mean that they lose their house, have to pack up and find a new place to live, and to top it all off will have to have a foreclosure on their credit for several years to come. If the fear of those things isn’t enough to make you a motivated seller, I don’t know what is.
Another type of motivated seller is other investors who for whatever reason need to get rid of an investment quickly and are willing to do so at little or no gain compared to what they invested in the property. Reasons can vary, but most often these investors need the cash to purchase another property they’ve found and need to sell quickly, making them a very motivated seller.
The best place to find motivated seller properties like wholesale properties and pre foreclosures is at MyHouseDeals.com. We not only have the most comprehensive database of motivated seller properties but we go the extra mile and contact the owners to verify property details and see if they are willing to lower their price depending on how long the home has been on the market. This is work you would otherwise have to do, and it can take precious time away from your other investment activities.
You can try MyHouseDeals.com for free. Click below to check us out today and see the motivated seller deals that you’ve been missing. See you on the inside.