087 Seller Secrets You Must Know

Seller Secrets You Must Know

Seller Secrets You Must Know

Today, we’re going to talk about how to be successful at seller-financed deals. First, one of the most important things is to pre-screen the seller. If you want to be successful at seller-financed deals, you have to discover right away if they are going to be willing to take your proposal. A few simple questions are all you need to know if the seller is motivated or not.

Here are some questions you should ask:

  1. Why would you want to sell a nice house like this?
  2. What are your plans?
  3. Where do you plan to go?
  4. Do you know about any repairs that need to be done and how much do you think they will cost?
  5. If you were going to buy this property and pay top dollar, what would you expect to be done before you buy it?
  6. Have you ever thought about renting the property? If so, what do you think it will rent for?
  7. How much are you asking for your property?
  8. What is the existing mortgage left on the property and what is the monthly payment, including taxes and insurance?
  9. Are the mortgage payments current?
  10. Is your mortgage adjustable rate or fixed rate?
  11. What’s most important to you?
  12. Is getting all cash at closing what you are after?
  13. Is your main goal to not make a monthly payment?
  14. Is your main goal to not have to maintain the property?
  15. Do you want to create a monthly income?
  16. Do you want an annual payment?
  17. Do you want the balance due after a certain amount of time?
  18. Do you want seasonal payments?
  19. Would you agree to an early payoff discount?
  20. Would you agree to a wrap-around note mortgage?
  21. Would you agree to an option to purchase?
  22. Would you agree to a lease option?
  23. Would you agree to long-term escrow?
  24. Who will pay the closing cost? Try to negotiate this.
  25. Will you agree to a “subject to” deal?

Asking the right questions will help you negotiate a deal. You can give their price if they agree to your seller-financing deal. Visit www.larryharbolt.com to sign up to receive more tips and updates that will help you become a successful investor.

Happy Investing



Subscribe to Larry's Community
Don't miss an episode - receive notifications of new episodes plus great real estate education tips along the way!