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In real estate, the term motivated seller refers to a home owner who is eager to sell his home. This implies that the home owner is willing to accept nearly any reasonable offer to buy the home. A motivated seller may have been trying to sell the home for a long period of time, may be moving out of the area soon, or may just need to liquidate the home’s value for quick cash.
Real estate agents will often state that a property has a motivated seller to drive up interest in a home that has been sitting on the real estate market for a while. This is a common tactic used to encourage buyers who are in a middle to low income bracket, or those looking for a home that can be flipped for profit. A motivated seller often has a home worth more than the asking price, so this can be attractive for serious home buyers and property investors.
Sellers can be motivated if they own a home that is not getting much attention due to a number of factors. Home sales may suffer in undesirable neighborhoods or if the economy is sluggish. The home may be old and in need of repairs and updates. Often, a motivated seller will accept lower offers if he must move out of the area for a new job opportunity or to retire in a more desirable place.
Home sales and the local economy can be helped by motivated sellers in most cases. A high number of homes for sale, but few buyers, can lead to a poor overall economy in an area. When home sales increase, it signals a revival in a community, which encourages investors to start businesses, create jobs, and add value to a region.
In some cases, a motivated seller may be someone who owns several properties who is looking to reduce costs. This can be an older person who has been a landlord for many years, owners who are struggling with the taxes and upkeep of property, or someone who has inherited a home in an undesirable area. Real estate agents generally help in handling the sales with motivated sellers, trying to get the best offers on these properties so that both the sellers and they get a good sales rate of return.
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