How Do I Approach Homeownersw In Pre Foreclosure?
Hi, I am just getting the hang of finding people that are in default but I am not quite sure about how to ask them if they are willing to sell. I actually went to a house the other day and was speechless about how to ask the guy. He simply said that he didnt want to sell. I know that I should have givin him a business card or mail him a letter/postcard but what else is a good idea. How do you get people in foreclosue to give you the time of day. Please post your scripts if you have any.
Jazzysweet 7
As an individual who lost his home to foreclosure and was forcibly removed after losing the battle against the foreclosure, my insight is different than most of the rest that would be posted here.
Whether you contact the personally or through mail or on the phone, you need to explain the situation in a way that brings the reality of the situation to home and present an alternative to foreclosure that leaves them better.
Letting someone know that falling behind on a mortgage affects your credit score badly, but having a foreclosure on your record makes it next to impossible to purchase a home with regular financing.
Case the deal in a way that is profitable to the seller. Make his problem go away. Save his asset. you will make money if you run your numbers correctly. If you know how to make money doing foreclosures simply offer the seller a deal that solves his problem.
You will run into people (like me) who won't sell. Don't worry about them. Help those you can pass on those you can't
it's a hard pill to swallow, if they can walk out with somthing it does not sting as bad
When you go to the door hand the person who answers the door a card and say "I understand you may want to sell your house?". If they say yes then sit down with them and explain your program(s). If the answer is no then leave the card and a flyer if you have one that explains your program(s),they may change their mind. Remember most people in foreclosure are in denial. After a few times you will gain confidence and know what to say.
Just get out there and keep modifing your script untill you find one that works. Some times its fun to go door-to-door and at others its discouraging. But make sure you dont go too late, homeowners kind get mad at you, and some are drunk be then.
Good luck,
James
I've knocked a few doors here and there. Whenever I'd have a live one answer I always started with "Is your mom or dad home?"
They'd usually follow up with "You must be here about the house..."
I'd say yes I am is now a good time to talk?
I'd get 1 of 2 responses...
1. It's been taken care of...
2. How many of you guys are there? (apparently I've not been 1st, 2nd, 3rd...)
Good luck![ Edited by csanchez on Date 04/07/2004 ]