Get More Motivated Seller Leads With This Opt-In Magnet: FREE EBOOK [Part 2]
Use this free ebook as an opt-in download on your website to get more motivated sellers and build your pipeline, so you can wholesale and flip them.
Grab Part 1 of the ebook and swipe the copy here.
Look out for the final installment in Part 3 next week…
Ebook Continued...
4. Not Scheduling the Closing Well
In a traditional old school listing and sale you have very little power in setting the closing date. There are many other parties involved with their own interests. You are most likely waiting on a buyer’s mortgage company. You can negotiate it, but there are many other factors to negotiate as well.
Being able to pick a smart closing date, of your own choosing is important. You may need to close in less than 30 days. You may need to buy a little more time in order to get your next move in order.
You want to be careful of trying to schedule a sale and home purchase too close together. Delays can happen. You don’t want your family living out of a uHaul truck for two weeks.
There are certain days which are more likely to lead to delays as well. The end of the month and end of year are notorious for delayed closings as closing agents are so slammed. Friday afternoons can be tough too. If your closing happens late, you might not get your funds in your account until the following week.
5. Not Picking the Right Buyer
It may feel amazing to finally get an offer if you’ve been trying to sell for a while. Picking the wrong buyer might be even worse than the wait.
Ideally you’ll want a truly qualified cash buyer with no contingencies in your contract. If the buyer doesn’t really have the money, or they are relying on getting a mortgage or selling another home, it can become a drawn out process, with no guarantee of a closing. Worse, you usually don’t figure this out until the day you are supposed to close. That may mean a couple of months of costs down the drain, missing out on the best buyers, and having to start over again from the beginning, when homes may be selling for less.
6. Giving Up to Soon
Maybe you have seriously tried to sell your home yet. Maybe you’ve tried and had previous contracts fall apart. You may not have found the right agent, or there was a title issue, your owe more on a home than it is worth today, you’ve got past due property taxes, or other liens, or are in foreclosure or half of your home is burned down. Still, it is extremely rare that there isn’t a way to get the home sold.
You may need a specific kind of buyer, who has experience in these challenges, though it’s quite possible you can get a deal done.
7. Putting Yourself at Risk with Open Houses
Open houses are popular for two reasons. One because they generate buyer leads for other homes for real estate agents. Secondly, homeowners think that more open houses will help sell. Yet, according to the National Association of Realtors only 7% of homes sell as a result of open houses or yard signs. Less than a 7% chance. Those are pretty terrible odds.
Open houses are a big investment. They take time to plan and promote and host. They mean cleaning and accessorizing and curating the right smells and sounds and providing materials on all the area schools and crime rates and comparables.
All for what? Realtors and property managers have some of the most dangerous jobs. They are often hurt or robbed at open houses, or worse. Then there is the risk of theft and ID theft from letting people in your home. If your home is vacant the rest of the time, and they can see that, there is the risk of squatters moving in and claiming adverse possession.
Top Funding News
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