Generate Motivated Seller Leads: Are You Reading? #7

Not to beat up the attorneys again, but divorce attorneys are another source for short sale leads.

One of the leading causes of divorce is financial distress.  Not to mention that many divorced couples cannot compromise on not only who will live in the home, but who will pay for it.  If it is necessary or decided that the only choice is to the sell the home to satisfy all parties and the home is underwater, than a short sale is the next alternative.  Make sure divorce attorneys in your area know to refer you as the ‘property mediator.’

I caution all that working with divorced couples requires patience.  You must employ my divorce couple short sale tactics and screening rules.  We require our short sale couples to prove they can sit in a room together to discuss the foreclosure alternatives docs civilly, unless restraining orders apply.  We also clearly lay-out from the beginning who is on title and who is on mortgage and which party is responsible for what during the marketing, contract, and negotiations process.

It is essential in a divorce situation to have everyone sign disclosures and commitment statements from the beginning.  We copy the attorney(s) on all correspondence and disclose to the parties that we will be doing this from the beginning.

In the end you will most often need everyone to cooperate for closing.  So, extra effort is required during the process to keep from rocking the boat.

Some of my best leads have come from divorce attorneys.  However, I will admit that some of biggest nightmares have too.   I can tell you some stories.

A final tip for dealing with divorcees, is to not allow the divorcing parties to turn you into their counselor, whooping pole, or communicator.  You have to hold your ground from the beginning that your job is to get their home sold and that all other issues have to be handled through their attorneys.  It is their job to help you get your job done.

To Your Short Sale Success!