Approaching a seller for a cash deal

[Don Petrash]

Big Picture: Looking for the right approach to a distressed seller.  Lots of job losses and foreclosures coming in my market.  

This is what I put in several "white letters."  What do you think?  How can I give a better "value proposition" to a distressed seller?  

Mr. and Mrs. ____,

My name is Don Petrash, and I am in real estate. It looks like your house has been listed in foreclosure.

First, I understand this is a difficult time. You have to make the best decisions for yourself and your family.

If you are interesting in selling, I can offer to buy the property.

For more information, please contact me at the info below.

Sincerely,

[Nathan Gesner]

I don't have a winning formula. I've tried approaching a couple different people in the midst of foreclosure and they rejected my attempts to help. One guy foreclosed owing about $320,000 but his home could have easily sold fast for $100,000 over that. He rejected my offer to help and went to foreclosure.

I would do some research to see what a successful message looks like. Personally, I think they want to remain anonymous so nobody knows and they want to walk away from their problem.  How do you convey to them that you can keep it discreet and provide them with a solution? In other words, maybe selling the home isn't the solution (in their mind). Maybe they are only concerned about enough money to move to Georgia or bailing their 19-year-old daughter out of jail.

Just a thought from someone with no success in this area.