Many people make a good living out of buying and selling property. Some become rich.

A few become very rich.

An important part of this is the ability to purchase property at less than the market value.

To do this you need to find some motivated sellers. They are people who have a good reason to sell their property. They might even be desperate to sell.

Examples of motivated sellers are:-

 

  • A landlord with no tenant in the property. He might be desperate to sell because he is losing money on the rent and can’t afford to pay the mortgage.
  • A woman moving in with her boyfriend. She could be desperate to get rid of her flat and start the next phase of her life.
  • A man moving in with his girlfriend. He could be desperate to sell especially if the Best Realtor near Marana AZ property has been on the market for a while i.e. more than four months.
  • People selling their grandmothers flat to pay for care. They are obliged to sell and will be keen to get rid of a millstone around their necks. The price might be irrelevant to them.
  • A couple who have outgrown their flat and are keen to move up the property ladder.
  • People emigrating to Australia, South Africa etc or travel ling the world
  • A couple relocating because of their employment especially if they have a company relocation package.
  • A divorced couple who are desperate to finally cut their ties, especially if they are struggling to sell
  • People who are struggling to sell their property (on the market for more than four months) and, in the run up to Christmas, feel that they want to be rid of a millstone around their necks. The best time to buy from them is 18th or 19th December. Do not leave it until between Christmas and New Year. They will have resigned themselves to not selling.

 

Ask the Estate Agent about the position of the vendor then use your judgment. Make a silly offer.

Timing is crucial. The best time to put in a silly offer is during November/December especially if the property has been on the market for more than four months. By the way, he best time to sell your property is during the spring.

Hopefully the vendors will accept your offer, you can proceed with the sale and consider yourself very clever. WRONG! WRONG! WRONG!

If they accept your first offer, YOU OFFERED TOO MUCH!

You need to do your research and make sure you know the current prices in the area you are dealing with. Generally speaking, start at no more than 80 – 85% of the asking price and see what happens. Why not identify two or three properties, make some offers and leave them on the table?