How to find motivated seller from MLS

Question

Quick question. Can you find motivated sellers from multiple listing service. If yes how do I find them? Thanks everyone!

Thomas Anderson · Answer

Sure there are lots of keywords you can look for. Also look for houses that are vacant and one that have been on the market for more than 180 days.

MLS KEY WORDS TO LOOK FOR GOOD DEALS

probate

inherited

foreclosure

short sale

preforeclosure

estate

bring all offers

junker

must sell

investor special

special warranty deed

quit claim deed

heir

heirs

TLC

motivated

fixer

fixer upper

fixer-upper

repairs

as-is

as is

relocation

rented

tenant

do not disturb tenant

owner will carry

owner will carry 2nd

owner finance

owner will finance

personal rep

personal representative

estate

trustee

basement issues

basement repairs

basement problems

foundation issues

foundation repairs

foundation problems

structural issues

structural repairs

structural problems

no FHA

lease option

engineer report

Andrew Johnson · Answer

@Talha Makki, I think @Ben Meisel is on the right track when it comes to aging and a constantly dropping price.  What I would look for is the time in-between price drops.  If you have a price dropping (even for a small amount) every few weeks and it's been on the market for 180 days it was probably 1.) overpriced and 2.) there's a huge amount of fatigue involved.  All of that said, if you're looking to capitalize on motivation you have to bring something to the table:  all cash-offer, high EMD, <30 day close, 3 day period to do an inspection, etc.  Someone with fatigue is likely going to put far more weight on a certain deal than an uncertain 45 day close with no EMD where the buyer has to look for financing...

Ben Meisel · Answer

Well, you could search for listings with the word "motivated" in the description.  However, that may not get you exactly what you want.  Another thought is to look for listings that have been on the market a long time and/or have dropped consistently in asking price.  That can suggest some level of motivation.  Most sellers are motivated, but their specific motivations may be different.  Talk to listing agents and see what kind of offer would be most appealing to the owner (ie, quick close, lease back, seller financing, etc)...

David Oldenburg · Answer

Continuing...Back on market homes are usually homes that fell out of escrow.  Sometimes they are now highly motivated if they need to sell quickly. I recently bought a home $40,000 under the price it was in escrow for when the buyer could not qualify.  The home needed zero work and was really nice. I paid cash and resold it a few weeks later. I'm doing another deal like that one right now.

David Oldenburg · Answer

I find deals in MLS all the time.  I search what are called "back on market", which are homrs

Talha Makki · Answer

Great deal thanks alot!

How to find motivated seller from MLS

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