Nedd help with getting Short Sale candidates!
Hi everyone!
I am trying to get some motivated sellers that would be willing to do al Short Sale. Just got an access to the list of people for the Sheriffs sale in my county. However, most of these candidates either listed as Bankrupt or postponed till 4/14/2003. Does that mean that some of them have filed the Bankruptcy and not willing to work with anyone or already been taken by another investors and they are working with them to postpone the Sheriffs sale? If any of these candidates are still may be an opportunity then how do I approach them (only defendant name and property address is listed in the note of sale)? Do I need to do any special research before talking to any one of these candidates?
Your advice is greatly appreciated.
Regards,
Dmitry.
Hey Dimitry,
I would concentrate on the people that have just received their notice of foreclosure. For doing your first short sale, you will need the time.
D-
Good question. The newly filed cases are where we all start. Try finding their phone numbers in Whitepages.com and giving them a call to let them know that "your company specializes in helping homeowners like themselves find solutions for their situation, is now a good time to talk or should I call you back at 7?" Just like we discussed on the call last night. Also, don't disregard people in foreclosure or postponment. It doesn't mean someone else is working them. You won't know until you make contact. Also, the ones in bankruptcy most likely talked to an attorney and are just trying to stall. They definitely need your help and the banks are willing to work a short sale while in bankruptcy, cause their hands are tied anyway. Best of luck and I'll speak with you soon. Sharon
Sharon / Joel,
Thanks so much for the prompt posts! I will definitely try to contact folks on the sheriffs notes list (Who knows I might get lucky!).It looks like people that just got they notes of foreclosure would be the ideal candidates. However, marketing though advertising may take some time and time is an asset I hate to waist. Where should I look for potential sellers at the early stages of foreclosure? Would Lis Pendens in the local Court House be a good place or one of the paid online foreclosure resources are better information depots?
Thanks,
Dmitry.
I don't know of too many mortgagees that will entertain a short sale while the mortgagor is in bankruptcy. If the Homeowner is in bankruptcy, it's probably best to simply try to purchase the mortgage at a discount.
In answer to your question, why not post an ad in the local newspaper, "I buy houses in any condition. Foreclosure OK, even if you owe more than it's worth!"
Hi ShortSalePro,
Thank you for the advice. I already did today just what you have suggested. Posted a short add in 2 local newspapers. I will try to trace each call to the actual source and see which one works better.
Regards,
Dmitry.
Interesting web you have their notice of defaults!
Dimtry...
Can you provide me with a sample of your ad in the paper?? You can email me at tabowers@mindspring.com
Thanks...
Hi Tab. You want believe it. The newspapers add was very simple:
MORTGAGE PROBLEMS? CALL ME!!!
And it’s already generating some calls.
[ Edited by Dmitry on Date 04/03/2003 ] [ Edited by Dmitry on Date 04/03/2003 ]
Hi Ed,
Interesting site you have there. Any chance you might add some counties for N.Y. and N.J. any time soon?
Regards,
Dmitry