Pre forclosure leads

2 Replies

This month I have been doing direct mail to pre forclosure leads. I have found that the call that I receive the owner is very against the idea of selling/ "losing" thier home. Had anyone ran into similar situations? If so how did you negotiate with these individuals and what is the best way that I can help these people or are these just dead leads?

It's all in your approach.  Kind of like a puzzle where you have to make all the pieces fit.  They have something they need, but you need to solve their problem with some type of solution.  You will probably find a lot of people are totally against it. Some hear you say investor and they immediately say no.  Why do they need to sell or why should they sell?  Retirement, help pay for medical expenses?  Moving to another state?  Extra income to draw from to live off? 

If they are absolutely content on staying move on to the next lead.  Follow up with them in 6 months or so.  But don't be too pushy.  My dad had someone approach him recently to buy his house.  They guy was so pushy my dad turned the hose on him and chased the guy out.

We spent over an hour talking to a potential seller about their property.  We never went over any numbers anything like that.  Mostly just talked about them and what they wanted to do with it.  Turns out the mother owns it but can't sell it because they would cut her medical coverage.  However she only has a few months to live.  The House is packed with stuff that nobody has gone through in years.  We talked about us and what we would like to use the property for.  When she is ready to sell we will be the first she calls.  We plan to follow up with her after the first of the year and we will be sending her a Christmas card.  Which will help put a face to the name.  You don't want to be too pushy.

@Vanessa Benavidez I agree that the mailer is a big factor. Never indicate that you know that they are having financial problems. Make it more of a coincidence that they receive a letter or post card telling them that selling their house is easier than the thing. List how you will make it easy - fast, no open houses, no cleaning/fixing/updating.

You might also increase your scope an mail to a list of Owners with Low Financial Stability Scores. 

The one-stop-shop for REI
Find Local Home Improvement Pros!
Check out our network of trusted, local contractors for all of your home improvement projects.
Find a Contractor