Re: MOTIVATED SELLER:EXPLAIN!! - Posted by SCook85
Posted by SCook85 on January 10, 2001 at 22:57:31:
Owner financing isn’t always a sign of someone being motivated to sell a home. Sometimes people sell with owner financing because it benefits them from a tax point of view. Other times they are investors (this method of selling is hot now) who want to create a note to sell and cash out. If the terms aren’t “right” their note will be unmarketable, therefore they must get their terms.
Motivated sellers don’t usually advertise their home for sale with owner financing, that becomes a option they will usually consider because they are so motivated.
Motivated sellers usually come to you- they come to you because you let it be known that you buy homes, and you let the whole world know. For what I do, I determine a motivated seller by the status and condition of their home. The homes I buy are almost always vacant (if they aren’t they should be) and they are just plain old dumps that make the average person sick to look at them (I personally find them to be very beautiful). In any event they need more work then the sellers can afford to do, or more work then the sellers care to take on. These homes only cost the sellers money and they are just a headache, they don’t want them and will get rid of them for anything that sounds the least bit fair (sometimes they don’t care if it is fair they will still sell just to be done with it).
I hope this explains things a little better.