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Home Buying Secrets- Before you submit your offer check the motivation score of Your Home Seller.

By Racheli | May 11, 2008

Here are 5 tips that will help you score your sellers motivation level. Use it as another tool to help you in the process when buying a home

  1. How many homes in the subdivision, Neighborhood, or condos are for sale?
    If over 30% are for sale give the seller 10 points
    If over 20% are for sale give the seller 6 points
    If over 10% are for sale give the seller 4 points
  2. When did your buyer buy the property they are currently selling?
    Before the year 2000 give the seller 1 point, each year after add 2 points.
    Year 2001 give the seller 2
    Year 2002 give the seller 4
    Year 2003 give the seller 6
    Year 2004 give the seller 8
    Year 2005 give the seller 10
  3. How is the house maintained inside and out?
    Very poor and neglected give the seller 10 points
    Okay but needs improvements give the seller 6 points
    Well but could use a face lift give the seller 4 points
    Very well maintained give the seller 2 points
  4. What’s owed on the property Compared to the asking price?
    10% of the difference give the seller a 10 may be short sale.
    20% of the difference give the seller an 8
    30% of the difference give the seller a 6
    <40% of the difference give the seller a 10
  5. How many months of inventory are currently available?
    6-8 months 2 points
    8-12 months 4 points

How did your seller score?

40-50 points very motivated
30-40 points some what motivated
30 or less points has time to ride the storm

Use this quick scoring tool to guide you when you are in the process of presenting an offer to buy a home. By all means this is NOT the only tool to take into consideration. Consult with your realtor. Get pre-approved (Not just pre-qualified) submit a pre-approval with your offer to a very motivated sellers and your chances to get the home of your choice are increased a lot.

And now you can see how easier it is to pick your best home. Need a referral to a professional realtor in your area? Please Email me at info@loans-4-u.com I’ll gladly refer you one.

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