Out of State Absentee Owners

6 Replies

Hi everyone, I hope you are all well!

Question time!

So what if I place an add on craigslist that I am interested in finding motivated sellers to sell their home and someone contacts me because their house is in the area that I live...but they are not. 

What typically happens? How do I see the property inside? Does the owner come from out of state to show me the property?

You have just found a motivated seller, my friend (:

The best way to answer those questions however is through communications with the owner. Build up a good, trusting relationship when you talk with them so that they understand that although you'll be making money off of the deal you're still looking out for their best interests and finding solutions.

Originally posted by @Tyana Everett :

Hi everyone, I hope you are all well!

Question time!

So what if I place an add on craigslist that I am interested in finding motivated sellers to sell their home and someone contacts me because their house is in the area that I live...but they are not. 

What typically happens? How do I see the property inside? Does the owner come from out of state to show me the property?

 Unfortunately nothing is typical. Every seller is different. Every transaction is different. Some sellers don't mind you making money off of them (wholesaling). Others do. The owner is more than likely not coming from out of town to show the property. He/she may have a lockbox on property, if it's rented the tenants or property manager could let you in, or there may be some relatives in the area that could let you in. Did he/she provide you an asking price? I would run some comps against that asking price, ask seller how much equity is in property, and try my best to determine motivation level before worrying about seeing property. If there is no motivation and no equity you don't have a deal so don't waste your time.

Hope this helps.

Sincerely,

E. Harris

Originally posted by @Jaelyn Whisler :

You have just found a motivated seller, my friend (:

The best way to answer those questions however is through communications with the owner. Build up a good, trusting relationship when you talk with them so that they understand that although you'll be making money off of the deal you're still looking out for their best interests and finding solutions.

 Thank's for the reply Jaclyn! We've had really good communications, she does seem really motivated, and she knows that I will be making money, I've been trying to keep everything honest and open with clear communications, I'm a little nervous as this is my first deal, lol

Originally posted by @Eric H. :
Originally posted by @Tyana Everett:

Hi everyone, I hope you are all well!

Question time!

So what if I place an add on craigslist that I am interested in finding motivated sellers to sell their home and someone contacts me because their house is in the area that I live...but they are not. 

What typically happens? How do I see the property inside? Does the owner come from out of state to show me the property?

 Unfortunately nothing is typical. Every seller is different. Every transaction is different. Some sellers don't mind you making money off of them (wholesaling). Others do. The owner is more than likely not coming from out of town to show the property. He/she may have a lockbox on property, if it's rented the tenants or property manager could let you in, or there may be some relatives in the area that could let you in. Did he/she provide you an asking price? I would run some comps against that asking price, ask seller how much equity is in property, and try my best to determine motivation level before worrying about seeing property. If there is no motivation and no equity you don't have a deal so don't waste your time.

Hope this helps.

Sincerely,

E. Harris

 Thank you! She seems really motivated and is actually coming from out of state, the property has essentially just been sitting accruing taxes since she purchased it, the next step is for her to show me the property, thank you for the reply Eric ;-)!

@Tyana Everett Backed taxes is indeed a great motivator. 3 out of the last 5 deals I have done have been a result of seller getting behind in taxes. You make all your money when you buy real estate. Get it at the right price and you are way ahead of the game. I'm rooting for you!!!!

Sincerely,

E. Harris

Originally posted by @Eric H. :

@Tyana Everett Backed taxes is indeed a great motivator. 3 out of the last 5 deals I have done have been a result of seller getting behind in taxes. You make all your money when you buy real estate. Get it at the right price and you are way ahead of the game. I'm rooting for you!!!!

Sincerely,

E. Harris

 You rock , thanks Eric :)

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