To identify those properties on the market being sold at 20% BMV, you will need to source the owners who are desperate enough to want to sell their homes and cannot afford to wait to take advantage of the best price or market value. These people are called ‘Motivated Sellers’.
What is a Motivated Seller?There are two main factors that make a ‘Motivated Seller’. Firstly, and the most obvious, a motivated seller is a person who has an immediate requirement to sell their home or property to access their money.
Secondly, due to financial pressures, timescales become more apparent and the required time to meet them shorter.The combination of these two factors can easily force a person to sell their property ‘Below Market Value’ (BMV).
A motivated seller is a valuable commodity, as valuable as gold dust to a property investor as yourself. They hold the key to purchasing properties below market value.
My experience has taught me to only purchase property from a ‘Motivated Seller’.