What’s Motivating Home Sellers to Sell
On our post dated August 17, 2009 I shared how a motivated seller can be a homebuyer’s best advantage for obtaining a great deal on a purchase. A recent report that stemmed from a survey conducted to determine what is motivating sellers to sell may be of even more interest to your buying efforts.
Knowing the source of the seller’s motivation may put you in an even better position. While you may or may not know what the specific motivating factor of your seller is, knowing what is moving sellers to sell on average can put you in the know.
The survey revealed that the highest percentage of sellers (31%) listed their property for sale because they wanted to, but not because they were forced to do so by mitigating factors. The second runner up figure however spoke volumes. At 28%, financial stress, which includes short sales were named as the reason sellers are selling. Twenty-two percent of the survey respondents mentioned other varied reasons for selling, 10% had to sell because they were relocating out-of-town and 9% were due to a divorce or an estate sale.
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