Most buyers set out to find a home that checks off as many boxes as possible while still keeping an eye on the bottom line. In some cases, homes listed by desperate sellers will stand out. Paying attention to single family home listings that are in a distressed state can result in big bargains for the buyers that know how to spot the signs. Read on to find out more.
Signs of Homes That Are Ready to Move
The below tell-tale signs can indicate a seller that is more than ready to sell and move on.
Did the last buyer renege? When a home is removed from the market, it almost always creates some difficulties for the seller when the sale fails to go through. Sellers are often disappointed and all-to-eager to make a go of the deal the second time around. You can find out about such properties by viewing the multiple listing service (MLS) listing for a given home. In some locales, you have to ask your real estate agent to access it for you or to provide you with access to the public site. In many locations, a version of the MLS is open to the public.
Is it open season for home sales? The more competition a seller faces the more likely they might be to lower the price a bit. Real estate, at least in most locations, has seasons. The most popular season for selling a home tends to begin in spring and go through the summer. One theory is that the warm weather brings out buyers and that summer vacation from school means that it's the best time to move for some families.
Does the home suffer from empty house syndrome? Homes that are full of furnishings seem to be more attractive. Sometimes, if the home still contains the belongings of the seller, it means the seller has just listed the house or is in no special hurry to sell. Empty homes, by contrast, can seem a bit sad and lonely and may have been on the market long enough to make buyers lose interest.
Does your real estate agent have inside information on the home? One great go-to for the real info on homes are real estate agents. They know things that may not be as obvious to buyers. Some of that information, for example, could indicate that the seller is about to be transferred to another city and really needs to sell the current home, or the seller is getting divorced and needs to sell as soon as possible. To find a bargain, form a close relationship with your real estate agent and dig deep to locate distressed sellers.