Pre-Foreclosure, R.E. Agent
I came across a pre-foreclosure and was suprised that they were having an open house. So this means they have a realtor involved.
If I aproach them and offer to buy thier house to get them out of foreclosure do I have to deal with the realtor?
Maybe I should be posting this in the wholesaling part of the website?
I would prefer to do a cash deal and wholesale it to an investor and take an assignment fee, but the realtor being involved just threw me off a bit.
any suggestions? Im thinking it would be ok if they had a realtor and my investor has a realtor BUT what if my investor dosent want to use a realtor to cut costs?
You will need to find out when the foreclosure is.
Also will need to find out if there are any offers on the
table.
At that point, i would also dig out the loan owed and
the equity present.
Then set a price you wish to pay and hand them a
contract with a 24hour or sooner expiry saying you
will do an all cash deal.
On doing so, i had the seller drop the price from
274K to 210K in a matter of minutes over multiple
phone calls thru their agent.
Also check the price on their open house.
This one listed it at 274K for a house worth 250K.
It sat in the market for 2 months unsold.
All these add to the seller motivation levels.
Good luck
-Krish
Okay... I know I Buy Houses...
I think your concept of the strategy is a little off. We do not charge, or lend to the seller, or help the seller reinstate their loan...
I Buy their House.
This type of advertising is built around “we can help solve your problems” rather than the in your face "I Buy Houses" approach.. Both work well..
As these people call to discuss how they can reinstate their loans or figure out what to do, our clear plan is to help them move...
Now there are a ton of folks who will not sell which is okay... If it is clear that they will not be selling we give them the knowledge about foreclosure that the lenders are not...
Remember folks The LENDER is our biggest competition in the foreclosure market...
And if you’re in California I would stay as far away from being a Foreclosure Advisory as I could…Buy the house instead…Just follow all of the rules when doing so…
[addsig]