motivated seller - Posted by idan topol

Posted by IDAN TOPOL on March 02, 2002 at 09:27:57:


motivated seller - Posted by idan topol

Posted by idan topol on March 01, 2002 at 15:32:27:

hi everybody
i live in queens ny.
what are the chances to find a motivated seller
is it easy or hard to find them in ny area?
how many of them i can find yearly if i’m realy looking
and where are the best ways to do it.
is there someone who really agree to hold the mortgage?
is there still people like that?

Re: motivated seller - Posted by Nathan(oh)

Posted by Nathan(oh) on March 02, 2002 at 12:06:05:


Ads, signs, flyes, biz cards, etc.

Re: motivated seller - Posted by JX

Posted by JX on March 02, 2002 at 02:49:43:

Hi Idan,

Well for starters, I live in Westchester, NY so I understand what problems you might have finding motivated sellers especially if you’re new to the business. Now they are around, but you have to dig a little deeper to find them. They can be found in ads, listed with Realtors, the point is, they’re everywhere! You have to take several factors into consideration. Motivated sellers have a house they need to get rid of. Could be divorce, wanting to move, etc. they are everywhere even in NYC, but they need to get rid of that darned house! It all depends on knowing WHY they want to sell and HOW you can help solve their problem. And most of these people want CASH. Most of the time, CASH is not a good option to give them, but they will almost always want CASH. If that’s the case, you have to negotiate and make offers. The only way you’re ever going to get anywhere is, you have to make offers! Prescreen the buyers to make sure you’re dealing with motivated sellers and not investors! Motivated sellers negotiate prices and terms. Investors sell at top retail price so it is hard for them to come off their prices. In this business, you have a choice of who you want to work with. Don’t work with people that don’t want to work with you! If you don’t get an offer accepted, so what? Move on to the next. NYC is a huge city and I tell you, you will not get through all the houses in your lifetime! There are just so many! And same with motivated sellers! They’re everywhere if you’re willing to prescreen out the people that WANT to sell as opposed to those who NEED to sell. Because when they NEED to sell, you do have some motivation.
As for your mortgage question, YES! But the mortgages must be assumable. Who does this? People who have lots of debt or are close to filing for foreclosure on their house! That’s some motivation for you! They’d sure as heck give you a house for free as long as you’d be willing to rid them of their debt. There are people like that everywhere! There are books written on these subjects. I recommend going to the library or a bookstore and reading more before you actually do these. It’s one thing to jump out there and do it, but you’ll surely be paying a visit to the school of hard knocks unless you’re educated. Good luck!


Re: motivated seller - Posted by lea

Posted by lea on March 03, 2002 at 19:55:21:

i see advertisements all the time, will pay all cash and close in 10 days or some thing like that, i see this all over my area in the bronx NY. how can i compete w/that? i cant pay exactly what the owner wants and i cant close in 10 or 30 days either. i have always thought that these people are wealthy investors, or contractors,
but i have thought just mayb they were sheets students,could they be??? can anyone tell me why or how these people can do this? or is it some kind of false advertising or scam?