Top 5 Ways to Spot a Home Seller that’s Desperate

Whenever you get ready to buy a home, you’re probably hoping to find that perfect deal. Even in a seller’s market, a great deal can be had, but you have to find a seller that’s “motivated.”

Sellers looking to unload their home fast will likely give you a much better deal. Here’s a look at five of the things you should look for if you’re trying to spot a desperate home seller.

Elderly and Living in a Two or Three Story Home

When elderly sellers are still living in a two or three story home, it’s a sign they may be a bit desperate to unload the home. If they cannot climb to the second story for the bedroom, they may be looking to sell fast and get into a single-level home.

If you happen to spot things, such as a full set of toiletries in the bathroom on the first floor or a bedroom type of set up in the family room, the seller may not be going upstairs much. You can also ask the seller why they are selling, too.

Elderly sellers also come as an attractive option when you’re seeking a deal because they probably own the home outright or have a large amount of equity. This means they don’t have to take the amount they owe on the mortgage into consideration when selling. They may even be willing to hold the mortgage for you, which would help you skip the closing costs and they would avoid any capital gains taxes.

A Completely Empty Home

While a completely empty home isn’t always a sign of a desperate seller, it can be. The seller has already left the home and they are still paying for utilities, so they are likely ready to sell. If they also have a lockbox and they don’t require appointments for showings, this could really mean they are ready to sell.

Most real estate agents hate to show an empty home because they don’t show very well. They feel sterile and cold, which makes it harder to sell the potential buyer on living there.

Beds for Kids Everywhere

If you encounter a home with a crib in the master bedroom, bunk beds in the bedrooms and it seems like it’s a very large family, you may have found a desperate seller. They may have bought the home as a starter home and they have completely outgrown the home or will very soon.

When you find a family picture in the house, you’ll have the confirmation you need. It may be a two or three bedroom property that worked great when they only had two children, but now they have four or five and the two they started with are getting older and bigger.

It’s nearly impossible for a seller with multiple children to keep a home show worthy, while living in it. There will be plenty of clues that you’ve found a desperate seller if they have a big family and a small house.

This becomes even truer when it gets closer to back to school time. Parents want to get the home sold, move into their new home and get the kids settled in their new schools when the school year starts, not a month or two into it. If it’s hit July 4th and this type of home is on the market, the sellers will likely start to get a bit more desperate with every passing day.

The Owners are Divorcing

Sometimes, the most desperate sellers are those divorcing with a need to get the home sold and get it over with already. Divorce is a very ugly thing and when it involves infidelity, there may be a need for revenge from one of the partners. This often puts the couple in a situation where they want to liquidate fast and move on.

However, sometimes, one partner will be looking to sell, while the other doesn’t want to sell. This isn’t the easiest buying situation, but if you can keep away from the drama, you may be able to find a desperate seller within the divorce.

It’s an Auction

Of course, it’s not really a desperate seller when a home goes to auction, but it’s a desperate situation. Whether it’s a homeowner needing to unload the property fast or it’s a bank looking to auction off the property, many real estate deals are found at auction. This could also mean the house may not be 100% perfect, however.

If the auction doesn’t require a minimum bid or the minimum is super low, it could be a sign of a very desperate seller. Absolute auctions are the best and they attract buyers looking to score a deal. There’s no safety net for the seller, which means the property is going to be sold to the bidder willing to fork over the most cash. However, it will be an “as is” sale, so be ready for a few things that need fixing.

There are several ways to spot a desperate seller when you’re looking to buy. These are just a few of the most common situations that may create a motivated seller.