Local Records Office in Bellflower, California researched how homebuyers can get the best deals from private sellers across SoCal. Many online homebuyers have been asking questions on how to get the best deals yet make sure the seller is legit. A terms deal is a deal where the seller is willing to participate in the financing. This could be an owner carry, a lease option, a subject to, or any other method of buying a home without getting a traditional or bank loan. This is becoming increasingly important for many buyers in real estate because they have the opportunity to grow personal portfolios and it becomes harder to get conventional financing. It is because of these types of deals that I have been able to build a large rental portfolio.
The professionals at the Local Records Office researched how buying a home and security go hand in hand. This makes potential homebuyers a lot more comfortable to take the next step in the home buying process.
Local Records Office Works Directly With the Homeowner to Secure Selling Process
It is important that you are talking to someone that is really motivated to sell their house for them to be open to this type of creative offer. For this reason, it is important that you deal directly with the owner and that you take some time to qualify their motivation before you spend too much time with them. For the purpose of this article, I am going to assume that you are marketing for sellers to call you and that your phone is ringing with seller leads. If you are unsure how to get sellers to call you be sure to check out our blog or our bi-weekly videos on YouTube and Vimeo.
I believe it is always best to answer the phone. If you cannot answer the phone, be sure that you have a very pleasant outgoing message so that people feel welcome to leave a message. Here is a sample of how your phone call should sound:
You: Thanks for calling this is Carlos
Seller: Yea… I saw a sign on the side of the road that says you buy houses.
You: Yes, do you have a house for sale?
Seller: I do
You: Awesome. Go ahead and tell me a little about your house.
Seller: The house has 3 bedrooms and 2 bathrooms. I just recently painted the living room this really cool blue color. I have also recently painted clouds on the ceiling in my kid’s rooms. They seem to like it.
You: Sounds like a wonderful house why in the world are you considering selling?
Seller: I lost my job a few months ago and am starting to fall behind on the loan. The house is worth around $225,000.
You: I am sorry to hear that. How much do you think your house is worth?
Seller: See that is the problem. I owe too much to sell it. I still owe $120,000
You: That’s ok. And your payments are how much?
You: Does that include taxes and insurance? And is it a fixed-rate loan?
Seller: Yes, and yes
You: I would be interested in coming out and taking a look at the house. Can I do that?
Seller: Sure. When would you like to see it?
You: I have a little flexibility. Are you the only owner or is someone else on title with you.
Seller: My wife
You: What day is it best to meet?
You: Ok, which is best; Wednesday or Thursday at 6 pm?
Seller: Thursday works better.
The Home Seller Might Still Owe on the Home
There are a few things the Local Records Office points out here. It does not matter what they say about the house when you ask them about it, what is important is that you use this to start the conversation. Your screening process starts with one very important question. “Why are you considering selling?” The answer to this will tell you if you want to move on with the conversation or not. If they give you a reason that makes you think they are motivated then you need to dig into the details of their current loan.
You don’t need to follow this script word for word and honestly, the conversation may take you in a different direction but I wanted you to see how a typical conversation might go. It is important to get as much information about their loan as you can. If it appears they are motivated enough to say yes to a creative offer and you can think of a solid exit strategy then it makes sense to go meet with them.
You will of course want all decision-makers there, so it is important to make sure everyone that is on title can make your appointment. Finally, it is a good idea to offer a few suggested times so it appears that you are busier than you really are. If you are busy you are in demand which will help make them want to work with you now go get that phone to ring.
Offering Sellers Security
By offering sellers security and a straight answer you get straight to the facts. The reality is that home sellers just want to get rid of the property with all the unnecessary steps that modern real estate agents nowadays do.
Local Records Office Property History Report
The Local Records Office brings together home sellers and homebuyers. The $94.00 property history report that the Local Records Office creates for any property and or home educates potential homebuyers if the asking price is right. The buyer is able to view the history of the property from when it was first constructed. The list includes demographics, foreclosure activity, and much more. With this information, clients can see if there was any major renovation on the property. The entire process usually takes under 21 business days.
Company Name: Local Records Office
Contact Person: Roberto Romero
Phone: 1 (800) 790-0721
Address:2202 S. Figueroa St. #406
City: Los Angeles
State: CA 90007
Country: United States