Posted by Tim Fierro (Tacoma, WA) on January 31, 2002 at 19:52:11:
I would call them, and then do whatever followup is needed. Are they interested, meet with them to see the place or to get access inside. If they are not interested, send them a followup letter to keep you in mind. Put them in your contact database for future contact again.
Making Offers on Vacant Property - Posted by Gambit NC
Posted by Gambit NC on January 31, 2002 at 19:37:45:
Okay-
I have Steve’s course, understand the concept, getting everything lined up, and farming the neighborhoods. I have found several good vacant houses in need of some work. I have found the owners, their phone number and current address. Should I:
1> Call them and ask them if they are interested in selling?
2> Fax them a letter of intent?
3> Mail them a signed contract?
Thanks!
Re: Making Offers on Vacant Property - Posted by Steve-DC
Posted by Steve-DC on February 01, 2002 at 08:20:17:
Gambit,
Why not send them something that gets their attention.
If you sent them a card and asked them if they want to sell, they could say yes or no. Even if they say yes, they may or may not call you to follow up. I believe people are lazy and skeptical by nature.
If you send them a contract or letter of intent, and they say yes, you’ve just eliminated one step in a process that is largely a numbers game. Efficiency is of the essence.
Think of how credit card companies get customers. They don’t send a letter and ask you to call an 800 number and go through some lengthy process, if you want some credit. They send you a credit card and tell you all you need to do is activate it.
Besides, what do you have to lose? If they’re unlisted properties, send a letter of intent or contract with an inspection clause in it. It doesn’t hurt to make an offer if your contract protects you. This works a little differently with listed properties, but I hope you get my point.
Good luck,
-Steve
Re: Making Offers on Vacant Property - Posted by jim
Posted by jim on January 31, 2002 at 23:00:00:
In our city there are thousands of vacant houses. Scouts such as yourself regularly send postcards to landlords and to owners of vacant houses hoping to get fixer upers for rentals cheap. Some send out hundreds per month and get bulk mailing rates. A postcard to see if they want to sell is always preferable to a letter of intent or a contract.