So when it comes to the point where you have excersised every possible solution and there is nothing you can do for the homeowner, how do you handle that? After a motivated home seller puts their hope and trust in you and you can deliver, based off some of your experiences, how did you handle the situation?
Well, it starts by not giving them any hopes. Never promise anything, you’re there to see if you can help them and you will do your best.
I have called sellers before and explained to them that after I did my numbers, there is really no way I could make it happen because i would end up losing money. Something that I cannot do. I tell them that I will see if i can find a way to help them out, so i will make some calls to see who might be able to help.
You may want to start crunching numbers before you tell the homeowner anything in the future. You can then make a quick assessment of whether the deal makes sense. Unfortunately many owners have unrealistic expectations when it comes the the value of their property. After you gather information and do your due diligence then you can give them a scenario or two that may be feasible.
If it is a foreclosure situation, find a local foreclosure attorney source for them and pass them off. You may even consider calling the attorney yourself and asking that they expect to receive a call from the homeowner. If it is a need to “sell a home quickly” but you’d lose money, see if they would be willing to sell under a “lease option agreement”. If they need some cash to move tell them that you can try to get them some, but don’t give a guaranteed amount. Sign a flex option to purchase agreement, then find a tenant-buyer, get the downpayment from the tenant-buyer and swing some over to the seller so that they can move. Does this make sense?
D
thanks for the pointers D.
To add to all of the great comments already, if you
have completed a few deals already, it would be
beneficial for you to educate yourself on creative
dealmaking. Creating deals.
If you have truly motivated seller, you should be
able to come up with a solution, regardless of price
range, condition of the property, or even the numbers
on the house.
Pitch your solution(s) to the seller and let them pick
which one best fits their needs, whatever option they
choose, you benefit as you will be making your profit!
Good way to look at it i’ll definately keep that in mind
thanks Jeff