People have many reasons for selling the home or investment property that they own. Often, buyers or other agents will ask, “why are the homeowners selling?” Unless the sellers want people to know their reason, this is confidential information.
Sometimes this question can be interpreted as “what’s wrong with the house?” Generally, if there are any issues with the house or land, it will be stated on the property disclosure statement. This disclosure answers all the questions the particular state’s laws require to be disclosed including (but not limited to), any past water damage, structural damage from natural disasters or termites, mold, lead paint, and age of roof and appliances. Many states do not require disclosure of rumored hauntings or previous death, but some do.
If a buyer really needs to know these non-disclosure issues, they can research it themselves. Crime reports are available online or by calling the local police department. Paranormal activity and previous death in the house can be found in old newspapers or by other means of research. Other non-disclosed items can be personal issues, for example, a dispute with a neighbor that makes it uncomfortable for the seller to stay in that neighborhood. The property might be near a commercial development and the seller no longer wants to deal with the heavy traffic it brings. A buyer might want it for the convenience.
If the planned development hasn’t started yet, you should know all you can about the plans. Ask your agent for information available about approved future plans that might affect your purchase.
Frankly, there are so many reasons to sell property that, unless it’s a required disclosed issue, it really shouldn’t be a concern to anyone. Often, the reason is a confidential one and it is their real estate agent’s job to sell the house, not gossip about the seller and their problems.
Here is a small list of possible reasons a seller is selling. There are plenty more, but this should give you, as a buyer, pause for thought that it really does not matter. If the house is desirable and you feel good about it, then you have a great reason to purchase it.
- Retiring in another town/state/country
- Job transfer
- Need to put kids in a different school district (maybe for sports or arts program)
- Need a larger house
- Neighbors entertain often and are noisy
- Neighbor children play musical instruments the seller can hear
- Want a property to put in a pool
- Wants a new house/new construction
- Wants a one-level rather than a two-level house
- Moving to assisted living
- Moving in with family
- Building the dream home
- Inherited land the recipient does not want
- Long-held investment, time to sell
- College children graduated and no longer need the condo
- Rental property too much trouble to maintain
- Personal dispute with neighbor
- Wants to move to a neighborhood without HOA restrictions
- Wants a neighborhood with deed restrictions
- Moving to the country
- Moving closer to town
- Land nearby is being developed and want to be away from the higher traffic it will bring
You can probably come up with more reasons to sell and move. If you are buying a house or land, you have your own reasons for doing so. You are about to make one of the biggest purchases of your life, focus on what is great about it and how it fits into your life. Be thankful that property is available for you.
Mark Twain once said, “By land, they aren’t making it anymore.” If the opportunity for land or for the house on the land comes along and you want it, do your due diligence and then go for it if it fits your needs.
Eileen Saunders, SRES REALTOR with Tommy Morgan Realtors BOF-Oxford 2092 Old Taylor Road #101, Oxford, MS 38655 662-404-0816/662-234-5344 firstname.lastname@example.org