If you are a buyer, how do you know if a seller is motivated to sell his or her home? First of all, hire a buyer agent. That agent is able to do some wonderful things for you in addition to showing you homes. The agent can let you know if the home that interests you had been listed before (an expired listing or withdrawn from the market). The agent can let you know how long the current home has been for sale; and the number of price reductions it has had, if any. How long has the current seller owned the home and have any improvements been made?
Why is the seller moving? How soon does the seller have to be at his or her new destination?
The agent may be able to find out if there have been other offers and why they may have been rejected.
The agent can do a Market Analysis for you which will show you what comparable homes sold for in the neighborhood or surrounding area. He or she can tell you what amenities those homes had and how long those homes took to sell.
Can you get some of this information yourself? Some of it but not all of it. The agent could have a good relationship with the listing agent who might be willing to share some of the information (with the seller's permission). An example of this might be whether there had been other offers on the home and why the seller is moving.
An experienced buyer agent can guide you in your offer. He or she can point out why a home is not selling and it may have nothing to do with seller motivation. Your buyer agent can recommend having you hire an appraiser if it is a unique property. The appraiser could offer a second opinion as to the property's worth to ensure that you are not overpaying.
Never underestimate the value of a good, experienced, full-time buyer agent. Their guidance and expertise can help you find the right home and pay the right price!
Associate Broker, Accredited Stager
Coldwell Banker Prime Properties