Motivated Sellers

[LaTara G.]

Hi, I am looking to find motivated sellers and my business partner says that all foreclosures and motivated sellers are short sales because your getting the property for less than what it is worth please help me clarify this.  His issue is that he doesn't want to leave the seller with damaged credit from the bank placing the difference on their credit, which of course I wouldn't want that to happen to any one but I am trying to explain that all motivated seller deals are not short sales

[George Maka]

@LaTara G. That is not true, not all motivated sellers are short-sales. Motivated sellers are those who are looking for help to get out of a situation. Foreclosures can be motivated, but so are probates, absentee, and just regular homeowners. 

Suppose I own a home and I was offered an out-of-state position with a new company. I start in 1 month and I am not a real estate investor so I want to sell. However, I can't sell within that month, so I now have 2 mortgages. I won't be able to make 2 mortgage payments for too long, so I am now motivated to sell my house for a discount just to relieve myself of the first mortgage payment. 

This is just an example of what some motivated sellers look like. I wasn't in foreclosure, but I was motivated because of personal circumstances. 

Thanks,

George