Has anyone had any luck working with a realtor on a listing that their customer is about to withdraw or lose.I would like to do some of these with a lease/opt or owner finance ,just are’nt sure how to present it to seller so they understand it.Thanks for any reply.
Wait for the listing to expire then you can approach the seller and make a L/O offer.
Make sure of the Lease / Option laws in your state.
You may need to write an option completely seperate from the lease.
When selling on a lease/option, always separate the lease and the option.
There are various ways to present your offer to a seller.
Usually, by the time the listing has expired, you’ll be dealing
with a more motivated seller.
And as Jeff has already stated, if you’re purchasing
via RTO, then keep your contracts seperate.
By the way, where in Alabama are you doing business?
Good luck.
I live in semmes,al.I like to stay in mobile,al or semmes but have one in saraland that’s taking forever to sell.Where are you in al?
Cool.
I’m in the NW part of the state.
80 miles NW of B’ham, if that helps.
What type of deals are you doing down south?
I’ve done rehabs for a while now.I’d like to do some wholesales and lease opt.Just like to know the whole deal on them before doing.I hope business is good for you up there.I believe we’re in good shape in al.Take care.
If you know that the listing is almost ready to expire you could send a direct mail piece to the seller and let them contact you. If they don’t, then wait for the listing to expire and make your contact then.
Realtors understand Lease Options, however, in order for them to get paid you would have to give enough of a down payment to the seller to cover their commissions. I assume you’re trying to buy with as little down as possible. You can SOMETIMES find a Realtor who would be willing to take their commissions back in the form of a promissory note, but they would want it secured to the property.
As for explaining owner financing, you would have just as much trouble explaining it to a Realtor as you would a seller. Realtors are not taught much about owner financing in real estate school so it’s the rare Realtor who has tried to go out and learn about it on their own. Many of them think it can’t be done and that there is something wrong with it.
Don’t be afraid of working with Realtors, but if a listing is close to expiring I would just wait.
cortjones, broker/owner
Sellnbama,
Here is a link to a program that you can educate yourself:
Cortney, Your link doesn’t work?
ROI