When we work with Buyers, we're often asked, "Why are they selling?" There are many reasons why Sellers are Selling Their Homes. First, we usually don't have insider information such as why a seller is selling. In our area, there could be anywhere from 15,000 to 20,000 homes available for sale at any given moment. A listing agent will protect their clients and not disclose why a seller is selling unless it is helpful to the seller to disclose that information and the seller gives their approval.
There are many Reasons Why a Seller is selling their Home. Once of these reasons may be due to unfortunate circumstances such as divorce or break up. We don't always have this privileged information and the listing agent most likely will not disclose this information. When someone experiences a divorce or break up, they are often required to sell their home in order to split the proceeds among the parties. Sometimes, it is because the individual person awarded the home cannot keep it up or afford the payments. I may be that it's just more home than they need. Or, it is possible that it is just too painful. We hate to see situations like this but, they do exist. It's important to remember there are people on the other end and proceed with care.
So, what does this mean for you the buyer? It's always important when making an offer; all parties on the deed are on the sales contract. There have been instances where a divorce or break up has occurred but, proper deeds haven't been executed or recorded. If this is the case, the seller will need to have all parties from the deed signing on the contract or have a new deed executed and recorded in the owner's name.
There may be times when an offer has to be approved by a judge prior to closing. As long as all parties are aware and the sale of the property is handled correctly, there shouldn't be any issues. It's important you have an experience Real Estate Professional assist you with the transaction so they can look out for red flags such as these and know how to guide you through the process successfully.
However, most buyers don't even think about potential problems a divorce or break-up may cause, most buyers want to know how good of a deal they can get as a result of sellers needing to get rid of a property quickly. As a Real Estate professional, all we can say is "Make an Offer!" Most sellers want to sell and want offers regardless of their reason to sell. First, consider how much you want the house and are you at risk of losing it to someone else. In the end, what's most important is you get a great house you'll be happy with for a fair price.
Presented by: Carla Freund Realty Team
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