Owner Says, "Oh We've Taken Care Of That Already...."
Knocking on doors, I've been getting this response a lot from owners going into foreclosure.
Anyone have a good way to respond to that and keep digging to see if there's a possible deal?
Thanks
Be polite give them your card or information let them know you will be happy to help them if they need your service in the future. The key term is "motivated seller" most sellers if you listen will tell you what they need and what there circumstances are with just a few qualifying questions when they are motivated and ready to sell. Dont beat yourself up trying to motivate a unmotivated seller. Another approach has been to have accurate and current information from the trustee and be able to counter that you just checked today and that the sellers house stills shows in default and scheduled for sale. The person cant very well tell you its handled if you have the current information in your hands.
If they took care of it, then move onto the next one
[addsig]
Hi MattyC,
In a lot of cases when the homeowner says "Ive already taken care of it", they are still in denial and they dont want to be sold by a door to door salesman. Some will be able to get a work out plan with the banks, but the others will end up going to the sheriff sale in huge quantities.
As the post said above, you want to work with motivated sellers. Go ahead and slip them in your mailing marketing list in another few weeks or so. Once the homeowner realizes that there is no way out for them, they can make a new decision, based on new information.
Best of Success!
BAMZ
[addsig]
Right on CJB. You might also congratulate them on solving thier problem. Then ask them how they did it. You may find that they decided to file for bankruptcy. Is that really a solution? From here you may be able to offer some advice or a better alternative
Thanks for the helpful responses. Cygnus, you brought up a good point (bankruptcy) that raises another question.
If the homeowner has filed bankruptcy, what then? If I could convince the owner to sell me the house and give up most if not all of his equity, wouldn't the bankruptcy trustee also need to sign off on the deal?
I'm not to familiar with this senario. As I understand it (for my area), the home would need to be released from bankrupcy by court order for you to do anything with it.
I was really trying to point out something else. Many pre-foreclosure HOs talk to an attorney. Attorneys are not REIs and don't offer RE services. They work with the law. All the law can do for them is protect them with bankrupcy. This will still ruin credit and doesn't really eliminate the foreclosure...at least not by me. Check in your area regarding the bankrupcy rules. As a REI, I think you can offer these people a better solution.
<------Begin sales pitch -------->
(Be Polite) Oh, Really? I just came from the courthouse this morning and they still have the pending litigation sheduled for (date). Has anybody stopped by and let you know what your options are??
If I can help get you out of this situation, that would be a smart move right? (nod head)
(start towards the door) Let me come in and tell you what your options are, do you have a minute??
<---End Sales Pitch----->
When I went out, I went with my wife. By doing this, not only do both of us learn, but it help us back each other up if somebody has a question, and a couple is less intimidating than a stand alone man.
[ Edited by joel on Date 01/26/2004 ]