Breaking The Ice, What Do You Say As A Buyer?

[Bill Gulley]

Starting out, this may be the toughest thing for some to do, approaching an owner about selling their home to you. What do you say to the owner standing in the front yard, face to face?

Let's say we consider 1. a property not listed, 2. An expired listing, no Realtor involved and 3. A FSBO with a sign in the yard.

[Rob Gillespie]

I start out by talking about whatever. Asking about the car they are washing, the mower they are using, just anything to start a conversation.

Next I start to discuss the real estate market. I ask them how long they have had their house on the market. If it has been a while, I ask why they feel it has not sold.

I go on to ask them to tell me about the house and anything that may be wrong with it. Then I ask why they are selling it.

I ask them what they are gonna do if it does not sell.

finally, I tell them that I can write a check for their home, but I will be buying equity. My offer starts at 70% of what I can buy that home for in the neighborhood. I take any repairs off of that. For example If the home is 100k, I offer 70. If it needs a roof for 5k, then my offer is 65k.

I then explain that I buy homes like this and sell them to people on owner financing. I find good people that bad things have happened to.

I then offer the seller the option of working with me on a co operative lease purchase deal if they do not or can not afford to sell me the home at a discount.

For the sake of time and getting tired of typing, I will leave it there. You get the idea, LOL