Meeting with the Home Sellers Part 3

from Part 2….So do you see? Being the doctor has to do with asking lots of questions.

And you need to memorize some basic ones.

Ron Legrand is a wonderful trainer and he’s still training today.

I took a course from him talking to Sellers and he was just amazing as far as the language he used.

for example…

what’s the least you could accept on the price if we can agree on terms?

Is that the best you can do?

May I assume you will sell with nothing down?

(If no) – what’s the least you could take down?

What’s the lowest monthly payment you could take?

During training we want to be able to memorize certain questions as we sprinkle them through building rapport and using FORM…….Family Occupation Recreation and Message:

Memorize these questions:

When talking to a seller, try to ask the questions through the course of a conversation and try not to sound like you are reading from a list.

Note: You will not ask all of these questions depending on the answers

the seller gives and your investing objectives

Asking About The Seller And Their Property:

Can you tell me a little bit about your home? (# of bedrooms, baths, size etc.)
What do you like most about the home?
What do you like the least?
Are there any repairs needed?
What is your sales price and how did you arrive at it?
What do you think your house would appraise for in excellent condition?
What do you think your property could rent for?
Is your property listed with a real estate agent?
If you don’t mind me asking, why are you selling?

Asking About The Existing Financing:

Do you own the house free and clear?
Do you know if your mortgage loan assumable?
Would you sell the house for what you owe?
If not, how much are you looking to get above what you owe? (Subtract that from sales price to get loan balance.)
How much are the monthly payment on the mortgage?
re the payments current?

What Kind Of Deal Can You Get:

If I paid you all cash and closed quickly, what is the least you could take?
(Follow-up by asking if that is truly the least they would take.)
Will you consider leasing the property to me with an option to buy if I guarantee the mortgage payments and maintenance?
Do you have a problem with someone living in the property until I get it sold?
Would you consider optioning the property to me, if there is absolutely no risk or cost to you?

Make sure that you just don’t keep rattling off question after question. You need to constantly be building rapport and connecting with the seller and order to be able to successfully get a creative deal.

Also, I write on a yellow pad their answers.

And I say things like,

“oh I see that you would consider leasing the property with an option if I guarantee the payment and maintenance, thank you I appreciate that..”

Once all these questions have been asked, and you feel that the sellers motivated, the last thing you do is to create possible offers by using what if statements.

Now you do need to understand that you have to be a reluctant buyer, not looking too eager.

Also you need to understand appeal to a higher authority which is a classic tool, where we do not have full power to make a decision, we have a business partner.

We appeal to a higher authority.

So I would have statement might sound like:

“So Bob and Susan I think I’ve got a really good understanding of what you would like to do, and you have a wonderful house. I do you need to ask you a couple more questions and then I’ll see if we can get a solution for your house problem.

So what if, and I can’t make any promises right this second, but what if I could get you some money today, payments over time, and a payoff down the road, would that be worth talking about or maybe not?

And I do need to talk it over with my business partner before we give you a final yes.

How do you feel about that kind of a solution?”