Desperate home sellers are out there. But, you’ve still got to avoid certain home buying mistakes. And, it’s important to know the difference between someone who is ready and willing to sell and those who absolutely need to sell right away. Add unserious sellers to the list and you’ll have a more pleasant house hunting experience. The fact of the matter is, you’ll probably not encounter too many sellers who aren’t actually serious. Or, few who are overly desperate.
Signs of an Unserious Home Seller
But, there are desperate home sellers out there. They exist in every real estate market. Unfortunately, so do unserious or insincere home sellers. These are people who aren’t ready to let go or simply don’t want to accept their circumstances. Just how do you spot an unserious seller? Well, there are some telltale signs. For instance, if you see an unrealistic asking price, that’s not a serious seller. Or, if the property is on and off the market. That means they cannot make up their mind.
“Every house hunter hopes to move into a new home with as few hitches as possible. And that largely depends on how eager (or, let’s be frank, desperate) a homeowner is to sell. And while it’s gauche to ask outright why someone is selling—Divorce? Job transfer? Downsizing?—there are ways to sniff out the answer.” —Realtor.com
Another two signs a home seller isn’t serious are an unwillingness to negotiate and failure to prep the house. If the asking price is clearly too high, the seller is quite likely to be unwilling to negotiate. Also, a lack of house presentation sends a big signal. It says the seller isn’t very serious about actually going through with a sale. (This pertains to inside and out as a lack of curb appeal means the seller isn’t really serious.)
4 Ways to Spot Desperate Home Sellers
Now, let’s take a quick look at home to spot desperate home sellers. The problem with desperate home sellers is they might well do something unethical to unload the property. Or, just rush through the process and cause timely and costly mistakes. Here are the top four ways to spot desperate home sellers:
- The listing practically begs for buyers. While the listing won’t include overt language, if you read between the lines, you’ll see the signs of a desperate home seller. For example, multiple price reductions over a short period. Or, pricing it well below market value. Another signal is listing the home “as is.”
- The family needs more room right now. If the home is too small for the family, such as a new baby or elderly parents, that too, usually pertains to desperate home sellers. They need more room and they need it right away for the sake of logistics, function, and sanity.
- The seller is quick to answer questions. Sellers who are quick to answer question are being honest because they don’t want there to be any disclosure problems. They understand by slow walking information, they are working against their own interests. A seller who doesn’t disclose problems or won’t discuss known issues just isn’t serious about selling.
- The home is already vacant. It could be a work relocation or an estate situation. Whatever the case, if the home is empty, chances are excellent the sellers want to unload the property quickly to stop the financial burden. They simply cannot be continually saddled with two properties at one time.
If you are considering buying or selling a home in Orlando, contact us for the latest market information. We’ll also provide you with the right advice about the local real estate market so you make the best decisions.