Sherffs Sale In Louisiana
I am a loan officer and I have a customer whom is losing their home to foreclosure-Their parents want to purchase the home which is going up for sheriffs sale on March 30th-How do I go about advising them to buy this? Should they purchase this home before Sheriffs sale or at the sheriffs sale? Also, The gentleman that is losing the home says he owes $240,000-The sheriffs sale price is $180,000-When you purchase from Sheriffs sale, do any of the possible liens go along with the home? I am confused!! How do I make this work for the family?
if your in a highly competitive market were there are alot of investors mailing, then you need something that stands out from the rest.
any of the "we buy houses" phrases and what was mentioned above is the standard which almost everyone uses. you can go with that or try and get creative, but either way if your in a competitive market the homeowner is going to get a stack of them so make yours flashy.
i have been doing postcard mailings to lis pendens and havent got one call yet. my bandit signs bring in all the calls. my newspaper ads dont even do a very good job and they cost $$.
try some of the online sites that allow you to customize postcards with pictures and backround and such.[ Edited by ZinOrganization on Date 02/20/2005 ]
Letters get me a great response rate! Per 350 letters I mail out I receive at least a 3% response rate. I draw up the letter myself using a personalized font out of MS Word, and I have a mailing house print them, seal them and stamp them... You will have to try different things to see what works in your market. I can say that post cards aren’t the most original medium now days… Continue to feel out your market
swaney, you ever hear of shortsales, or sub2.
alot of those deals that you let go couldve been great deals with some creativity. house with a bunch of mortgages and no equity are great for creating equity.
even houses with little equity you could always take subject to the exsisting financing if you find a lease option buyer willing to pay more. they pay a premium because of there lousy credit.
when i started out i would only look for houses with tons of equity in them, before i learned all the other options that i could do. now i also look for houses with zero equity.
anyways just thought id inform you.[ Edited by ZinOrganization on Date 02/21/2005 ]