A motivated seller can be spotted by watching the property or talking to neighbors, and other means to uncover if there’s anything going on that can give you an advantage in a property deal. Watch for these indications:
- Financial Difficulties. Business or personal financial failure can force people to sell their Honolulu properties quickly and below value in order to avoid foreclosure or bankruptcy.
- Moving. Many people get job offers that require them to relocate quickly and this will encourage them to sell their homes promptly or risk paying for 2 properties at once.
- Marital Strife. Couples who are getting divorce often have to split up their assets by selling their property. You can find out from neighbors if the couple is racing to get away from each other.
- Probate. This means that a house is for sale as part of an estate, and heirs may be happy to get the sale over with even at a low price.
- Moving Up or Down. Some Honolulu homeowners may decide to up-size or down-size and want to change their lifestyles fast so they’ll be happy to sell their properties quickly.
Looking through advertisements, you can spot language that indicates urgency on the part of the seller. Phrases like “Need to sell,” “…or best offer” suggest that the seller is in a hurry and will concede to a low price. You can also look through rental ads for word like “only employed tenants” which can suggest that the landlord is tired of dealing with tenants and may be easily convinced to sell.
- Use your common sense to guide you in looking for motivated sellers in Honolulu. Talk to people and find out what their motivations are to see clues that they want a fast sale. Then help them get what they want by offering to close the deal as soon as possible. This will encourage them to sell quickly while getting you a great deal.
- Look for run-down properties. If a property in Honolulu isn’t well-maintained this can suggest that the owners are short on money or sick of looking after a home. Both can help you get a good deal.
- Time your purchase well. Many sellers will want to sign off on deals before the new school year so their kids can get started at new schools elsewhere. Following a long winter full of vacancy and bills, a landlord may want to sell a property quickly.