Seller financing. How do the pros qualify owners for seller financing

[Genus Powell]

Hey Biggerpockets,

I'm currently targeting FSBO properties seeking owners interested in financing their own properties. Based on the majority of my feedback asking sellers is he/she is interested in seller financing it's like learning to talk so women all over again! So my question to the Biggerpockets family is how do you all qualify a owner for seller financing? When is the right time to reveal your seller financing intentions (before or submit it in with your initial offer)? If anyone out there has any experience with seller financing please share with me some of your experiences and strategies that worked for you all when making offers where the seller finances the deal.

[Account Closed]

You are right to compare this talking to women. It is the same process.. It is a courtship. Nothing matters if they don't like you. Everything is a detail if they do like you. People hold mortgages for you because they like you more than any other reason. Step one be sure they like you. Just ask ,"What is the price?" Then ask," Will you hold a mortgage?' If they ask what is that? You are halfway home. Learn to explain it so it seems like a good idea. It is a good idea. Why would anyone want cash today? What would Joe average do with $100,000 cash? Put it in the bank at 1%.

http://www.biggerpockets.com/blogs/3840/blog_posts/27179-seven-reasons-a-seller-should-hold-a-mortgage

Have you read the above article? You have to believe that holding a mortgage is good for the seller. It is . If they tell you they are concerned that you won't pay, ask the seller ,"How can we assuage that fear?" Would a bigger down payment do it? How much bigger? Would it help if you talked to five other sellers that I have been paying for years? Maybe you can't use that now but you will be able to in a few years.

Getting back to talking to women, if rejection is a problem, you may have a problem. You have to kiss a lot of frogs before you find a princess. Ask a lot of sellers,"Will you hold a mortgage?" SWSWSWSW