Smarter Strategy for Signing More Estate Property Wholesale Deals
How can real estate wholesalers secure more probate and estate property deals?
As the market changes and there are fewer foreclosures, auction properties, and short sales available many real estate wholesalers are hunting for deals in new niches. Probate property and estate sales are often promoted as one of the options for sourcing motivated sellers. However, few wholesalers take the time to adjust their marketing to really connect with these sellers.
So what is it that those with inherited property really want and need? What will help them take the leap and lead to more offers being accepted?
As with many sellers in the market today there can be substantial disparity in perceived property value. Some may underestimate what their inherited homes may be worth, while others may seriously overestimate the value. Many may turn to easy to access online home value tools which can be wildly inaccurate. It can be worth the time for serious wholesalers to take a look at the most popular of these in order to be prepared, and be equipped to overcome objections. Many owners of these properties may also not be aware of the quirks of selling beyond what they see local comps selling for. For example; villas in hot senior areas like sunny Southern Florida may be in communities which come with five and six figure membership fees on top of the purchase price, or may be in older golf communities which aren’t as fashionable as they once were.
In many cases speed is vital. It is often more motivating for owners of inherited property than price. Family members often can’t afford extended time out of work, and high travel costs going to and from a property in another state for showings, etc. So can you pay cash, or use transactional funding to close in just a few days?
In addition to offering more value through clarity and simplifying the process of selling an inherited property, speed is important and a highly motivating factor due to ongoing holding costs, and the potential for devaluation. If there is a mortgage in place, past due property taxes, or condo and association dues a property can fall into foreclosure, or at least see net proceeds drop dramatically within just a matter of weeks.
Even more important than price and speed, can be connecting owners with help for sorting and dealing with personal items left in a property. Most don’t have the time to sort or get items ready for storage or have the bandwidth to ship a houseful of old items to charities. How can you help them by connecting them to these services?
Finally, when marketing to owners of inherited property consider the messaging differences which may be required. Will they be put off by promises of lots of money fast, and be drawn more towards those that offer respectful assistance in a difficult time, that doesn’t make them feel they or you are yet another vulture trying to pick the estate clean out of greed?
This can all be accomplished via direct mail, online, or via printed materials passed on through other professionals they might be coming into contact with.
Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.
Top Funding News
|
|
|
|
|
| Linked In | You Tube | Google+ |
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
- Frank Olaitan, Real Estate Investor, MD
"I can't thank you and your company enough for providing funding for our latest project, and right at the last minute. You came through with funding in less than 24 hours and coordinated with the closing agent and attorneys like you had been involved with our project the entire way. I'll know exactly where to call for the funding we'll need for our next project."
- Dave Pricken, Real Estate Investor, NJ
"Thank you so much! I just had a talk with our Realtor on both properties and told him amazing things about your company!... Normally I rehab the houses and re resells them. I just don't have the patience for that work anymore. This [transactional funding] is such a better way for me and less stress."
- Steven Kupecz, Real Estate Investor, TN
"We want to thank you for the exceptional customer service you provided. No one comes close. We had contacted a competitor the same time we contacted your company. Your company responded with in a few minutes while the competitor has yet to respond weeks later even after multiple phone calls and emails. Thanks again for the unmatched customer service."
"We had looked into several transaction lenders for a couple properties we were trying to flip. Your company was the most responsive and had the best pricing. Even though we had logistics issues with the B/C lender, your company acted very professionally and handled our requests beyond our expectations."
"Thank you for your commitment to an excellent customer experience."
- Phoenix Properties, LLC, Ronald Destefani, Investor, PA
"I was studying on how transactional funding works and you guys had the best and most thorough explanations posted so I could fully understand the details in back to back closing. I'd already started setting everything up but your video confirmed that I'm on the right track."
- La'Donna Turnipseed-Scott, Investor, LA
"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
- T. A. Davis, Investor, NJ
"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
- Donna Bauer, The NoteBuyer Inc., Real Estate Investor, OH
"Thank you so much for working so diligently with me. Your services really are the "BEST". I look forward to working with you in the near future!"
- Ericka B., Real Estate Investor, CA
