Marketing for"Subject to" Sellers
What is the best way or source to find potential "subject to" sellers???
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I've had pretty good luck running a list with these criteria:
2000 or newer build
Sold between 2006 and 2008 (top of the market)
Current value less than last market sale price.
In a recent mail out to this list, we sent 1500 pieces of mail and snagged 3 deals in 3 weeks
For me, a good sub 2 deal, the one that makes most sense to the seller anyway, is one where they lose any other way they go to close (have to bring money to the table) So I look for a house that is in livable condition with little equity.My formula above has returned tons of response, but you will also snag a lot of Short Sale Candidates.
I have to say though that my "normal" Absentee marketing does also churn up a fair amount of Sub to candidates. But nothing like when I went looking on purpose.