Quickly qualifying sellers - Posted by Greg Schultz in MI

Posted by Soapymac on October 10, 1998 at 14:28:52:

a human trait. People like talking about themselves, so ask some “dumb-smart” questions.

I call them that to remind ME that even though I am a professional, I don’t want to appear as a “sharpie.” Generally speaking, when I’m attempting to list a FSBO (“For Sale By Owner”), I stick to this order, also:

  1. “What price have you put on your home?”

  2. “Gee, that’s interesting. Mind telling me have you arrived at that number?”

  3. “What if that price wasn’t right, based on what I know about this area? Would you want me to tell you that?”

This last question you say WITHOUT GIVING THEM a chance to answer it. Run right on to the second part…which is the information you really want.

WFM (Works For ME)


Quickly qualifying sellers - Posted by Greg Schultz in MI

Posted by Greg Schultz in MI on October 10, 1998 at 12:56:57:

I would appreciate some of you more experienced REI’s
to give me some pointers on how to, quickly and without
offending the sellers, qualify them so as not waste
time looking at properties that I can’t deal on.

I have tried coming right out and asking “what’s your
bottom line type of questions” but that does not give
me a real picture of FMV, and they get mad some times
and become unapproachable again.


Re: Quickly qualifying sellers - Posted by Jimbob

Posted by Jimbob on October 10, 1998 at 17:13:53:


That’s a classic mistake most if not all investors just starting out make. It sounds like you’re a shark going after their equity, here’s a few approaches you can try:

Have you had your house on the market long?

Have you thought about the financing?, do you need to be cashed out or would you consider maybe carrying a private contract or considering a Lease/Option?

If the house is a fixer and vacant:
Would you consider taking a Lease/Option or Owner Contract if I do the fix up work in exchange for the down payment, and I offer to make your monthly morgtgage payments until I can sell the house?

These two work good for me.