It all depends. When writing an offer it is all relative to the neighborhood of the home. I have narrowed it down to 3 main concepts in determining motivation for selling a home.
- What is the seller’s motivation? Do they need to sell or do they want to sell? A need to sell homeowner is more likely going to look at most offers. Reasons for needing to sell would include job relocation, foreclosure, going into default, 2 mortgages, or an estate sale.
- Location of the neighborhood. If the home sits on a great 2 acre lot with all new updates and is picture perfect but backs up to a major freeway or road, chances are that home will sell for less. Before writing the purchase agreement check out the neighborhood. Look for signs of distress (unkept yards, busy streets, boarded up windows, ect.).
- Days on Market. If you see 2 homes that are exactly the same but 1 of the 2 homes has been on the market for 3 days and the other home has been on the market for 238 days, which is more likely to look at lower offers. Days on market can be a huge advantage for the buyer to know about.
Keep this in mind when buying a home and it can save you a lot money
