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Please add 5 and 8 and type the answer here:
Mortgage Rates
30 Yr FRM 4.83% -0.08%
15 Yr FRM 4.32% -0.04%
1 Yr ARM 4.35% -0.11%
5/1 Yr ARM 4.25% -0.04%
30 YR Tres 4.30% 0.01%
Fed Prime 3.25% 0.00%
Q: What does it actually mean when a real estate listing says "seller motivated"?
  • Generally, it means that the seller would like to sell the house quickly at a reasonable price so they can move on with their lives.  It does NOT mean that any lowball offer will be entertained or accepted.  It does NOT mean that the seller will pay all closing costs.  But it does mean that a reasonble offer will be considered.  The seller may be maintaining 2 households and that could be the motivation.  Your Realtor may be able to shed more light on any particular property with that commentary.

    You should consider putting yourself in the place of the seller to more fully understand the reasons for motivation.  You can pick up a gem of a home in this situation at a good price.  But you shouldn't expect to steal it.  A home inspection is a must, as in some instances, a growing proprety problem could be the motivation.


    Answer Submitted on Tue, Oct 28 2008

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    Answer Contributed by: MisterVA
    Paul Chandler, Certified Mortgage Professional
    Blog: www.misterva.typepad.com
    www.misterva.net
    Prime Lending
    Jacksonville FL



    Certified Mortgage Professional in both New Hampshire & Vermont.
    Licensed Mortgage Broker in Florida
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