How to Screen Motivated Sellers Over the Phone - Should you Pursue the Deal?
You only want to pursue deals that you can make a nice profit on when wholesaling. The first step is to get to know any potential seller/homeowner,
and this usually takes place over the phone. Let's take a look at how to screen potential good deals...
Qualifying homeowners over the phone / Questions to ask:
Get the basics first: address, number of beds, baths and sq feet.
Then...
1 What is the Payoff? Best guess?
2. Monthly payment? Does that include insurance and taxes?
3. Why were you selling the property?
4. When did you want the property handeled ? One month , 3 months , 6 months? ( optimal selling time frame is 60 days)
5. What are your plans if you did not sell the house?
What was the back up plan? Ever thought about just renting it out ?
IF Yes: At what price were you think of renting the property?
If NO:I understand you don’t intend on renting , but to get a better
evaluation of the property, if you DID want to rent what would the monthly rental price be?
6. Are you the only one on the title?
If yes ..then evaluate the motivation and set up a face to face.
If No: Explain that we would need to meet with all parties on the title to see if this is a fit and I would want to purchase the property, or my team would be interested in buying your property.
7. What’s it worth , how did u come to that number?
8 Is the house listed with an agent ? If yes find out when listing expires. You don't want to deal with houses on the MLS at this point.
9. Run the numbers. Determine ARV – 60%- repairs. Know the pay off .
Calculate best offer to seller . Do 3 comps within a few miles of the property. Know the Days on market, average time to sell.
Great video about seller motivation...
More about wholesaling houses for profit: Learn to wholesale houses
Use Craigslist to Find Motivated Sellers
Wholesale Offer Formula
Screen motivated sellers on the phone
Wholesaling Abandonded Ugly Houses
Best Way to Build Cash Buyers List
Find and Assign for Profit Find and Assign Testimonials
More about wholesaling houses for profit: Learn to wholesale houses
Use Craigslist to Find Motivated Sellers
Wholesale Offer Formula
Screen motivated sellers on the phone
Wholesaling Abandonded Ugly Houses
Best Way to Build Cash Buyers List
Find and Assign for Profit Find and Assign Testimonials