Calling FSBO's - Posted by Larry S.

Posted by Clark Kent on July 08, 2007 at 12:26:35:

“Hi, my name is Larry (Last Name), and I noticed you had your house for sale. I’m looking for some investment property in the area, could you tell me a little about your property?”

After they tell you how many bathrooms, about the new kitchen floor they just put down, blah, blah, blah…

“Sounds like a nice house (unless they described a junker), why are you selling?”

At this point you find out how motivated they are. If they’re selling because they need more space, that probably aint the deal for you.

“Will you move even if you don’t get the house sold?”

If their answer is that they’ll just stay there, or they have to have that one cashed out in order to quaulify for their new build, then that probably ain’t the deal for you.

Hope this helps. Good luck.

Calling FSBO’s - Posted by Larry S.

Posted by Larry S. on July 08, 2007 at 07:36:03:

Good morning! First of all, I want to say thank you to everybody who has been generous enough to answer my questions in the past. I appreciate VERY much your time and insights. Now, for another question. I’m just starting up my “buying machine” with postcard mailings, flyer distribution and an ad in the local weekly paper. I would also like to call FSBO’s to make something happen. Can anyone give me two or three good “lines” from a script, or from their experience, which will help me transition from asking about the house itself, to telling them I am an investor and then finding out if they are flexible enough for me to start asking the deeper questions: i.e. about mortgage, interest rate, how badly they need to sell, etc.? I’m trying to come up with a smooth segway that will help me determine their mindset to see if I have a chance for a creative deal. Also, is it a viable strategy for me to sign a lease/option with the homeowner and then fill the house with a tenant/buyer on a lease option? Thanks again and have a great day! Sincerely, Larry S. Riverview, FL

Re: Calling FSBO’s - Posted by LK

Posted by LK on July 08, 2007 at 18:20:11:

  1. What are you asking for the house? … 2) Tell me about the house…2a) Why are you unloading this house? …3) If I came over right now with my banker and my closing attorney, what is the lowest CASH price you can accept for the house.

#3 should be modified for local conditions.