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5 Ways To Find A Home Below Market Value
Every home buyers dream is to get a “steal” on a purchase. In other words you would like to buy a home below market value wouldn’t you?
The information in this report can’t guarantee that you will buy your home below market value, but it will provide you with a number of tips and strategies to provide you with that possibility.
Example #1 Ask the Realtor representing you to find those homes that have been on the market for sale for a period of time longer than the market average. All things being equal, the longer a home has been for sale, the greater the probability the seller is motivated to sell. Make the seller an offer and see what happens.
Example #2 Do you have the vision to see past some cosmetic deficiencies? The worse a property looks to the average buyer, the greater chance there is to get a good buy. Because most buyers want a home that is in move in condition, you can often times buy a property at a price that is below market value even after you do a little clean up and fix up.
Example #3 Find a seller that is highly motivated to sell. There are a number of reasons seller have to sell. When you find a seller that has financial problems, has lost their job or must relocate to another city because of a job transfer there is an excellent opportunity to purchase the home below market value.
Example #4 Look for a seller that is a "don’t want-er". There are several circumstances where a property owner simply wants to get rid of their property. Simply getting rid of the property is more important than the price. Some of these situations include death of a spouse, and divorce. When someone inherits a property, because the seller didn’t really pay anything for the property, they may not be as sensitive to what price they get if they are motivated to sell. When an investor has a long term tenant leave or causes damage to the property, they may simply want to get rid of the property. If a small builder has built a “spec” home that has been on the market for a while, the builder may be ready to sell for no profit or even loose money just to get out from under the debt of the construction loan.
Example #5 Regardless of economic conditions there are always homeowners that are in default and are not making their mortgage payments. When sellers don’t make their payments the lender forecloses and then resells the property. Local banks, the FHA and VA must resell these properties often times below fair market value.
The above 5 examples are all possible almost all the time. However, finding the above situations on a property that you want to live in may be rare. If, however, you are willing to compromise on the location or specific features in your home, it’s very possible to find.
If you allow me to represent you, I’ll do everything I can do to help you get your home at the best price possible.
Please contact me via phone or email.
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