Monday, March 19, 2007

Motivated Seller Questionnaire

If you call a seller on the phone, here are some questions to extract their level of motivation and determine if there is a deal in it for you as well:

1) Name and Phone Number
2) Complete Address of Property
3) Are you the owner? (Who else is on title?)
4) How long have you owned the property?
4) What are you asking for the house? How did you arrive at that price?
6) How long have you been trying to sell?
7) Are you listed with a Realtor?
8) Tell me about the house...(shut up and listen)
9) What repairs are needed to put it in top condition?
10) Why are you unloading this property?
--- Financing Questions ---
11) How much is your monthly payment?
12) Does that include taxes/insurance?
13) What are the annual taxes?
14) Is this an adjustable or fixed?
15) Are there any other loans or liens on the property?
16) Are you current on all payments?
17) How much do you think you owe on each mortgage?
18) Do you need top price or a fast sale? (they better say fast sale here!)
19) Would you sell it for what you owe?
If NO then -->
20) If I offered you all cash and a closing in 7 days, what's the least you would take?
(Always respond with 10 seconds of silence and 'Is that the best you can do?')
21) Would you consider owner financing?

Now you should have enough information to determine if they are motivated and what offer options are open to you! Good luck.

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