DeedGrabber Mini Course Day 4
"What Do I Say To The Owners?"
I hope you can feel for the owners who are losing their properties to tax sale, and understand how they may have gotten there. And why their best option may be to deed the property to you for next-to-nothing.
Today it's time to discuss how we contact the owner, and what we say to them when we get them on the phone.
The first step is easy - just send them a letter. Even that can be done using the internet, in just minutes (I show you how in my ebook).
There are entire courses out there on how to write a good letter to contact owners in foreclosure. I've found that it's not really necessary to get fancy.
On plain white paper, I write a letter that goes something like this (of course you'll tailor your letter to match the situation of the owners on the list you got from the county):
I'm writing to give you a "heads up" that your property was sold at a county tax lien sale on x/xx/20xx, and the deadline to redeem the property is x/xx/20xx.
I'm writing to give you a "heads up" that your property will be sold at a tax deed auction on x/xx/20xx if all delinquent taxes are not paid.
Do you have everything taken care of? If you aren't able to pay the taxes, or don't want the property, I might be interested in buying it.
Please call me today if you would like to try to do something with it. You will lose the property completely on x/xx/20xx if no action is taken.
If this is the first you've heard of the situation, I'll be happy to share any information I can with you.
You WILL get calls when you send a letter like this to a couple hundred people nearing tax foreclosure.
When an owner calls, I basically say the same thing as I say in the letter - "I just wanted to make sure you were aware of the tax sale and had it taken care of". If they ask why you're inquiring, just explain you're interested in unwanted property, or property that owners can't redeem.
This will almost always lead them to explain their situation. Some will just want information for now. If they are just now hearing about the situation, you can bet they're not keeping a close eye on the property and may want or need to sell.
Others have been desperately trying to save their home and will ask for help. You will have to evaluate whether that is something you want to do.
If someone says they would like to sell, ask what they need to walk away with if you take care of the tax obligation. Often they're happy to clear $1,000 - $2,000 from the property if you pay the taxes.
But what you're really looking for the owner to say is, "Oh, I'm just going to let the property go."
In that case you reply,
"Well, if you're going to let it go, I'd like to see if there's anything I could do with it. What if we got it out of your name now and gave you fifty dollars for your time in signing over the paperwork?"
(Memorize that line, and be ready to use it when appropriate, it works almost every time!)
DO NOT say "will you take $50 for the property"! We want to compensate them for their time, so they will sign over an unwanted property. We don't want them to feel like they're getting ripped off.
If someone is rude or otherwise uncooperative, I politely hang up with them and move on.
Now you're ready to prepare a deed and have the owner sign the property over to you for as little as $50.
A couple notes:
-You can often sell such a property before the drop dead date. Therefore you only have a small amount out of pocket, and at risk. You can pay the delinquent taxes out of your sales proceeds.
-I do not rely on the owner calling me. I also attempt to call them. Most are grateful that you checked in on them.
-I save all returned mail from the campaign, and use a skiptrace website to find new addresses for these owners. THESE ARE ABSOLUTE GOLD, as these owners have not received any word of the tax sale through their bad address.
In the final installment we will recap the whole process and talk about why these bargains are available using our "DeedGrabbing" method.
Tomorrow's lesson has a simple title:
Everything You Need to Know to Profit From
Tax Property Before the Sale -
Yes, I'd like to get the DeedGrabber information NOW!
Choose your version (click one):
Ebook Digital Download: "Go Ahead, Be a DeedGrabber" in digital format for immediate download. Takes you step-by-step through the process of DeedGrabbing, from getting your list of owners, to contacting the owners, what to say to them, and how to research the property for value and title issues before you buy. Then, how to sell the properties you get for big paydays.
DeedGrabber Study Course: Immediate download of the ebook PLUS the ebook in written format shipped to you free by UPS. Additional materials include Legal Forms CD which itself can save you thousands of dollars developing your paperwork. Also includes seminar DVD, Quick Start CD, and Introduction to DeedGrabbing CD with Jackie Lange of CREWealth.com.