When looking at homes for sale in the greater New Milford, CT area a common question I hear is “Why are they selling?”
I don’t know!
I don’t know their motivation, I don’t know if they are getting a divorce, if they are upsizing, downsizing, moving to Alaska for a new job opportunity, I really don’t know. Really! And the listing agent should not be telling anyone why.
Let me back up a bit. When I take a listing I have an obligation NOT to disclose the motivations for selling UNLESS the seller has advised me to do so. Most times they prefer to keep the details of their motivation private. On occasion they do say “tell them everything, I just want to sell this place!” or… something along those lines. But that is not the norm.
No, I don’t tell others that it’s none of their business, I have a bit more tact that that! I prefer to say it is a lifestyle change.
Why the seller is selling really has no relevance to your motivation to make an offer on a house. Even if you know the motivation (when it is clear that one half of the closet has been cleaned out) you don’t know their bottom line. For instance in the case of a divorce, we don’t know if the judge has set the price the house must sell for. (That is another post in itself, so let’s not go there now.) The listing agent is bound by their fiduciary duty to their client to …. keep their mouth shut!
When working as your buyers agent I will check a few things out for you if you are thinking you want to put in an offer on a home for sale in the greater New Milford, CT area.
- I will check a few places that tell me how much the latest mortgage amount was at the time of the last recording. I may not know the exact dollar amount left, but I should be able to tell you if the owner appears to owe more than the house is worth.
- I will check to see if they appear to be in some level of foreclosure.
- I will run a buyers comparative market analysis to tell you what I think the house is worth.
In all honesty, you may think knowing the reason the sellers are moving will give you a better edge, but it really doesn’t. The question you should be asking yourself is “what dollar amount am I willing to buy this house for”?
If you are looking to purchase a home in the greater New Milford CT area, give me a call at 203.460.1775, or send me an email to discuss your options. Let’s talk about your motivation, not the motivation of the seller!
c Andrea Swiedler 2011. Originally posted at newmilford-cthomes.com.