How to Spot a Motivated Buyer
While the sales price is a key factor in determining a motivated buyer that may negotiate for a higher price, there are many other terms that can make an offer more attractive besides sales price.
A few of these terms are…
- Large earnest money
- Short option/inspection with large option check
- Offers leaseback
- They ask your listing agent what you are looking for in an offer
- Offers to pay extra things like title policy, survey, HOA transfer fees, no home warranty
- Offers large down-payment.
- They don’t have contingencies such as selling a home or a long time to get credit approval.
- Pre-approval (documents reviewed by underwriter).
Sometimes if the buyers are over-eager, however, they may turn in a very high offer but back out in the inspection time so make sure you get a good option check for the inspection time and try to gauge their genuine interested in your property.
Also I recomend cleints go with your gut when picking offers in multiple offer situations. I have had multiple sellers that received really high offers but the seller and I both felt more drawn to a little lower, but still a strong, over asking offer. Instead of following their gut feeling the seller choose the higher offer and the buyers ended up backing out for random reasons during the inspection time and the seller came back to the offer they felt drawn to in the first place.