Was presenting a Sub 2 when this question arised. " What would happen to our home if something were to happend to you? " :banghead I told them that I would have my lawyer take care of the payments. What should I have said?
I’ve heard this before too…not a big deal.
What happens to all your assets when you die?
Not something we like to think about, but, something we all should.
The simple answer for the sellers would be ‘my estate will take care of everything until my heirs take over. My will addresses all that’.
And since your attorney just might be your administrator for your estate, perhaps your answer was right.
Display confidence in your offers, when things like this come up, something was missed to make the sellers feel secure in dealing with you.
Keep in mind, when presenting your offer to sellers, sure, you are selling yourself and the offer to the sellers, BUT, ultimately, they are the ones with something that needs selling…a house.
You are offering a SERVICE.
I listened to a lot of real estate instructors handle objections and they did it VERY smoothly. What I remember reading was similar to Jim’s response. It was along the lines of, “It’s irrelevant if something happens to me or not. The payments from my occupants are automatically taken into escrow and your payments are automatically paid out of that. If they don’t pay then obviously I’ll put a new buyer in there. Now, are you really thinking they’ll stop paying AND I’ll die?! Hahaha…” or something like that. I don’t know what would happen if both did happen. I’d be dead so I wouldn’t care! :biggrin
The best response I have ever seen is:
“Should something happen to me, my company has a key person life insurance policy on me with a death benefit that is more than enough to pay off your mortgage.”
Thanks guys. I just sent them my offer and I will bring up there question with the answer. In an effort to reassure them and put at ease. Hopefully close the deal :deal :beer