Cold calling pre-foreclosure properties?

4 Replies

I would like some feedback on the best practice to cold-calling pre-foreclosure lists.  I recently purchased a list and want to start calling these properties.  Should I say to the property owner that I am aware that they are in foreclosure?  This may sound like a crazy question but I was wondering if I could get some ideas, a script or some advice on what to say.  Sorry I am a newbie!  Thanks for any advice.

@Derrick Henley

 We’ve been doing this for years. The biggest thing is to know your state specific laws. Be honest and direct. We usually say “this is so-and-so from so-and-so company we noticed on the public record that your lender has filed an order of notice on your property” ( or whatever document starts the foreclosure process in your state).  Be prepared to get screamed out hung up on etc.  These sellers are the most difficult to deal with. I like to give him several options. Short sale carousel retail sale etc. pay for moving costs all that stuff. Come from a place of helping them and you’ll get some good deals out of it. What state are you in?

@Derrick Henley I would be honest and approach the call as if you can help them. They have a problem and you potentially have a solution. Yes some folks will be irritated with your call but its a numbers game and the more calls you make, the more appointments you set up then the more properties you will put under contract, then eventually the more profitable you will become. 

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