Seller wont give any mortgage Info

2 Replies

Today  i began to call some for sale by owner houses

It went not so hot, but i know its a numbers game, lots didnt answer, some straight up said no to owner financing, and some said they recently listed with a realtor, BUT

Whenever i ask about there mortgage info they told me it was "none of my business" (hard to create rapport after that doozy) 

The reason i need to know there ballance info is because i will then ask if they would consider owner financing the house/ Lease to own. Am i approaching it wrong? Should i ask if they would consider financing first? 

Yes you are approaching it wrong. I would not tell you that information either. Just flat out ask them if they would consider owner financing and list the benefits the owner may have by providing owner financing . Like anything the more descriptive and information you can provide the better the chance.

I think you're both wrong lol

You find the right house in the right neighborhood in the right condition

You knock on the fsbo door and asked to see the house and act like a cash buyer

You can't get a terms deal on the phone

It's a face-to-face presentation

Here's a dose of reality from somebody's been doing this for 30 years, do you know how many agents and how many investors are calling them?

The first thing the FSBO wants to know is if you're an investor!!! Or worse yet an agent!

Act like a cash buyer and walk through the house and ask questions about the house

Then show them they can make more money on seller financing 

Tools are 

lease-option assignment, 

wraparound mortgage, 

subject to, 

installment sales on free and clear houses