How To Identify a Motivated Seller in Mammoth Lakes

When you see “motivated” seller in real estate listings, does that mean the seller really wants to sell and is open to negotiation?  Sometimes yes, sometimes no.  Sometimes, it might be the listing agent who could not talk the seller down in listing price, trying to get a buyer to submit a lower-than-asking price bid, and wake the seller up to the realistic price he should be at.

If the seller is motivated to sell his Mammoth Lakes home, this is what it could mean:

1. Price might have room for further price reductions
2. Seller likes the cat-and-mouse negotiations
3. The Mammoth Lakes home could be in or near foreclosure
4. Seller wants to see an offer before canceling the listing

How to deal with motivated sellers:

1. First, decide if you really want to buy the Mammoth Lakes home
2. Ask the listing agent why the seller is selling…if there is no viable reason, you could be wasting your time.
3. Consider giving a low-ball offer to see how the seller responds. If the seller does not give a counter offer, you have your answer.  If they give a full price counter offer, they just may want to negotiate.
4. Wait for a price reduction. Most listing agents will ask for a price reduction after so many days from the original listing.
5. Ask if other offers have been made. If so, find out why, and try to overcome the seller’s objections.

Sometimes, “motivated seller” means nothing.  With the right questions and just talking to the listing agent and seller, you will be able to determine this and move on to the right properties.

Owning a house is the American Dream.  Figuring out if it’s worth the risk to buy at today’s prices is something each person needs to figure out for their situation.

When you are ready to find your Mammoth Lakes home, call me at 661-979-9000 or email me at [email protected] to help you.

Links:

How to deal with motivated sellers

http://www.articlesbase.com/finance-articles/buying-property-investment-how-to-negotiate-with-motivated-sellers-638712.html

Low-ball offer

http://homebuying.about.com/od/offersnegotiations/qt/0507lowballoffr.htm

American Dream

http://www.foxbusiness.com/personal-finance/2011/11/10/home-ownership-still-american-dream/