Re: Preforeclosure - Posted by Jim IL
Posted by Jim IL on May 12, 2000 at 16:12:09:
The sad reality is that most sellers in pre-foreclosure will do just that, wait for a miracle.
They are not motivated and cannot see the reality and gravity of there situation.
There are some sellers out there in this situation that will respond and get you a deal, because they are motivated.
But, for those who are not, there are a couple of things you can do.
You can wait them out, and let time add to the motivation level. Do followup mailings, and calls to them to see if they have changed there mind yet.
You can accelerate that urgency and motivation by pointing out the facts to them.
Check out Joe Kaiser’s website, “Nothingdown.com” and see his letter about the “Loser of the month” or some such title.
In this, Joe tells his sellers about a deal that went to auction because the seller was waiting for a miracle.
They lose out big time, and did not have to, ahd they called the investor who could solve the problem.
Sometimes this works.
Other times, nothing works.
Just do not waste your time with them.
Make the initial contact, and then if you get no response or a negative one, log there info and followup later.
And in the mean time, go find another seller who is motivated.