How to Find Motivated Home Sellers

If you are a real estate investor, you are looking for the best deals on houses that meet your investment criteria. There may be some good properties already on the market in your price range, or you can dig deeper to find off-market deals that offer even more profit potential. The key is to find motivated home sellers who aren’t willing or able to go through the traditional real estate sales process with a Realtor®. You want a seller who wants or needs to go through a faster and easier home sale. They are ready to move soon and you should be ready to make an enticing offer on their property.

So, how do you find these motivated sellers and great off-market properties? Here are some of the best sources to consider:

Foreclosure

Of course, properties that have already been foreclosed upon will require you to go through the lender or bank—or whoever is representing their sale. This can be an effective way to find good houses for a nice price, but of course there is sometimes some red tape involved. You can also seek out homeowners in the pre-foreclosure stage. The foreclosure process hasn’t officially started yet, but it is imminent and they will be very motivated to sell before the bank comes knocking on their door.

Tax Default

This is similar to foreclosures. Some homeowners may be facing major tax liens or property seizures when they are really far behind on paying their property taxes. Like a pre-foreclosure, these homeowners may be eager to sell before it’s too late and willing to make a great deal. You can also check with your city/county tax collector and sheriff auctions to find properties that have already been seized and are available to the highest bidder.

Direct Marketing

We have an active direct marketing campaign at PropertyLark. We advertise our home buying services and then we send out direct contacts to homeowners we have identified in situations like the ones we’re describing here. As a real estate investor, you can develop your own marketing campaign and let motivated sellers come to you. Or, you can consider joining the PropertyLark network for exclusive access to our best off-market deals.

Unwanted Inherited Property

This is a more common scenario than you might think. Someone inherits a property from a family member and they don’t really know what to do with it. It becomes a financial and emotional burden, especially when the owner is located in a different area than the house. They’d rather sell it off quickly than deal with the ownership expenses, repairs or other issues that may be attached. This presents an excellent opportunity for a real estate investor to make a cash offer and provide a fast, easy solution to their situation.

Divorce

Divorces can also be a good opportunity for real estate buyers. Unless the divorce settlement specifies one spouse gets to keep the house, it is often sold to split the proceeds between both parties. Even when one spouse keeps the house and gets alimony or child support payments from the other, it still may be more than they can afford. They may be motivated to sell with a discreet and timely solution. This can be good for a cash home buyer.

Poor Property Condition

Some homeowners are stuck with houses that they have let get significantly run-down. They may not have the money to make repairs before selling it on the open market, or they just don’t want to take the time to get the property ready for a traditional sale. They may be willing to work with a real estate investor. You can buy the unit in as-is condition. You are probably planning renovations anyway, so it presents a win-win situation if other aspects of the property (size, location, etc.) make it worth your investment of time and money.

Unwanted Investment

You may find yourself working with a fellow real estate investor who no longer wants to deal with a certain property. Whether it’s a regular homeowner with a second property they can’t manage effectively, a landlord who is ready to retire or a real estate investor who simply wants to move on from this particular unit, you may be able to work out a favorable deal as a cash buyer.

Other Financial Distress

There are other instances where a homeowner finds themselves in financial distress. Maybe they lost their job or had their income lowered significantly. Perhaps they are facing a medical situation with unexpected expenses. These situations can lead to them becoming very motivated home sellers ready to get a deal done quickly.

At PropertyLark, we work with all of these motivated home sellers and more. We can connect you with great home buying opportunities to get the most out of your real estate investment portfolio. Please fill out the form to the right to see if you qualify for our exclusive network membership.