Posted by BR2 on August 02, 1999 at 11:11:43:
Interesting story Darin. Keep us posted!
Quick thinking - Posted by Darin
Posted by Darin on August 01, 1999 at 21:06:12:
This might get long but worth reading. I have been trying to track down a single older lady that is in foreclosure and the sale is aug 11th with a 30 day redemption. I first drove by the property and became very interested because the value is 5 times more than pay off. The house is vacant and no sign anywhere of the owner so I took a chance and started beating on neighbors doors. In short the majorty of them are trying to buy it and bids were already 4 times more than pay off between neighbors. I got every neighbor to help me locate this lady. (the way you present your self to people is everything).
After a week and a half, and putting 400 miles on my car driving all over the place, finally I saw her car at a neighbors house today. note; this lady lives out of her car, the cats and dogs have taken over the house and roumers say she is totally wack-0. Here I am at a neighbors door about to present my self knowing all the neighbors are trying to cash this lady out and the possibility of embarissing her. The very second I said her name she threw the biggest fit you had ever seen, yelling at me telling me to leave. I did not back down I hit her with about 10 questions and 10 statements in about 15 seconds, just enough to get her to come back and speak with me. For the next half hour I got to see what true denial is. She has all these big plans of a new home with a 3 car garage and on and on. But one thing she kept saying is she needed 4,000 by tommorow at 5:00. My guess is her car was getting repoed. Every question I asked her, I got a fanticized answer. I knew I was getting nowhere. I could not pull her to reality so I let it go and tried 12 times to say good bye. So on the way home I kept thinking about the 4,000 dollars and truely knowing she is not going to sell and by the time she does come to reality, it will be to late. I did manage to get her pager #. When I got back, I immediatley paged her and offered her the 4,000 for her car she needed with no intrest no payments, just pay me off in two weeks when you get the money you were talking about. ppppphhhhhhh yea right,in exchange for a quick claim deed and a contract stating I get the property one day before the sale. She said that will be fine.
The moral to this little story and to remind my self, you need to ask as many questions as possible, you need to find solutions to peoples problems, you always need to present your self professionally and with kindness. If for one second I would have screwed up at that door step, I would have never had a second chance. I would have gotton the door slammed in my face and never seen her again.
I have done several deals and do not in any way claim I am a pro. The more I do, the more I realize how much I have to learn.
Re: Quick thinking - Posted by Jeff (FL)
Posted by Jeff (FL) on August 05, 1999 at 16:04:37:
Darin,
This lady sounds as if she might be losing her mind. Any real estate deal you close with an individual who is not in control of all of their mental faculties is considered invalid by most courts. Her heirs (or any concerned neighbor) could challenge your title to this property. “Clouds” would definitely start forming.
Regards,
Jeff (FL)