Americans are fickle creatures. On average, they tend to move to another home every five to seven years. But being fickle has nothing to do with the reason some want to sell their homes. Whether it’s for personal or financial reasons, potential homebuyers deserve to know why the current homeowner doesn’t want their “dream house” anymore. Because buying a house involves a lot of money, the new potential homeowner needs to know why the current owner already wants to sell the property.
Moving Away
The most common reason to sell a house immediately is a new job. The current owner might have gotten a new job offer in another state. That’s reason enough to uproot the whole family and move there. This has nothing to do with the state of the house and the neighborhood. If you want to make an offer for the house, go ahead and do it.
Size
It might be because of the size of the house. The current owner may be expecting another child, and the size of the house will no longer be practical for them to keep. Or maybe they are downsizing. Who knows? But if it’s the size of the house that bothers the current owner, you might want to take a look at it, too. Ask for the lot and floor area. See if the size fits your current lifestyle and family situation. You might want to add a swimming pool, complete with a long-lasting concrete pool deck sealer that improves its appearance.
Financial Problems
All too often, you find a house for sale because the current owner can’t afford its mortgage anymore. Rather than lose the house for nothing, they sell the house to the mortgage lender. That lender, mostly a bank, will then sell the house to make a profit. That’s why some of these foreclosed houses sell for cheaper than their value. While it is saddening to see families lose their properties, it is an opportunity for you to get your dream house at a lower price.
Also, some homeowners forego their houses because the maintenance is too expensive. If this is the case, look into these costs. Make sure that you can afford them, lest you go down the same route as the current owner.
Bad Neighborhood
This is a deal-breaker for many potential homebuyers. A homeowner will have a hard time selling the house if it’s in a seedy part of the town. No one wants to live in an area with high crime rates. At best, the homeowner will sell the house for a much lower price. You can invest by buying the house, but you should put it up for rent rather than move your family there.
Relationships
Divorced couples might want to sell their homes, as well as lived-in couples and others who have had a change in relationships. A death in the family is also a good reason for the current homeowner to sell the house. This does not affect the value of the property. Their reasons are entirely personal. It is okay for you to make an offer for the property, unless you’re freaked out by the place’s “bad vibes.”
Looking at the reason the current homeowner is selling the house is an important consideration for homebuyers. If they affect the value of the property, the homebuyer can make an offer for less the asking price. If the reasons are not to affect the new potential homeowner, then the price should stay the same.