Newbie questions... I'm (hopefully) just getting started. - Posted by Edward M.

Real Estate Investing
1

Posted by Michael Morrongiello on February 11, 2000 at 09:49:35:

Thanks David, I knew there were more “gems” out there to effectively probe a seller and determine their NEEDS not wants…

Michael Morrongiello

2

Newbie questions… I’m (hopefully) just getting started. - Posted by Edward M.

Posted by Edward M. on February 10, 2000 at 10:56:53:

I’ve been doing research and I hope to by my first property soon ( 1 - 2 months ) and I have a question that some may find stupid, but I’m a newbie so I have to ask. =)

Is there a suggested list of questions I should ask when I call about a home? Particularly when I’m talking to the owner and not an agent. I understand one of the most important things to find out is seller motivation.

If anyone’s sat down and come up with a list of questions, I’d be VERY thankful to see it.

I know newbies can get annoying, so if I start asking too many questions, just let me know.

Thanks in advance!

Ed
oriom@earthlink.net

3

Ask Nurturing questions in a Diplomatic way of the seller - Posted by Michael Morrongiello

Posted by Michael Morrongiello on February 10, 2000 at 14:14:41:

Ed;
This might be best posted on the other news group section since it really deals with buying a real estate property and note a cash flow (note, etc). However I would suggest you obtain some feedback to the following issues and aks the questions in a nurturing diplomatic way of the seller. The order that follows is not necessarily an order to ask in:

  1. What is wrong with the property?

  2. What is owed against the property?

  3. Why are you selling ?

  4. If you don’t sell what will you do?

  5. If I could pay you all CASH and close in a week what would you want to recieve? (one of my favorites)

  6. Would monthly payments be of any use to you?

Best of luck

Warmly,

Michael Morrongiello

4

Re: Ask Nurturing questions in a Diplomatic way of the seller - Posted by David Alexander

Posted by David Alexander on February 10, 2000 at 23:54:12:

And add to the list…

If I could make you a loan against your equity, how much would you need?

What do you think the property is worth?

How did you arrive at that figure (sometimes you’ll realize it’s PFA, and others times maybe based on work they have put in, nothing to do with real value)

What if I could get you some cash and take over your payments?

There are some good articles in the How to Section by Jim Piper on this very subject.

David Alexander