Foreclosure Lawyers
Here's my idea:
i received a list of Pre-Foreclosures/Foreclosures the other day. After reviewing the list I noticed that several lawyers were doing most of the foreclosures.
I began to wonder, what would be the best way to contact these lawyers to see if their clients would be clients would be interested in working with me.
Problem is I don't know what to say to them. Does anyone have a form letter or any ideas on what I should say to get these lawyers to take me seriously.
Thanks
J
Due to ethical consequences arising from attorney client relationship, they probably won't take you seriously... and if anything good did come down the pike they could grab it up for themselves.
Early on in my career, I lost my first couple of deals to lawyers... who reviewed the structure of the deals and snatched them away from me....they themselves (or in a friend's name &/or LLC) acquired the property....
Since lawyers make their money from continuing with the foreclosure process, it doesn't seem like it is really in their best interests to work with RE investors.
However, what about contacting the REO department of the lender prior to the auction to let them know we are interested in the property and to work out a deal to purchase if they get the property back at the auction. This is if the home owner won't talk to us prior to the auction. That way we won't have to bring cash to the auction and get in a bidding war.
Does anyone do this?
The lawyers you see do not work for the owners of the property. They work for the bank or mortgage company. If they talk to you prettymuch all they will say is what time they will be at the courthouse on the first Tuesday.. Like mentioned earlier try to find the owners directly or be prepaired to buy at the steps for cash.
Hope this helps some
Ted Jr