LandInvestors.com Forums **Ask A Question** Handling Calls from Sellers Who Accept

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    Jordan
    Participant
    Post count: 34

    All of the recorded calls Jill does in Disk 6 are situations like a seller who received their mailing years ago and is now suddenly interested. One scenario that doesn’t really seem to be covered, though, is the seller calling back right after receiving the offer and basically saying “I accept.” How do you handle that when, in truth, you still have to do your due diligence? Do you start just asking them about their property anyway? If so, how do you justify to the seller doing this research when the seller already accepted? Note that I am not talking about justifying it ethically! I mean it literally — once the seller has said that he/she accepts, how do you transition to asking questions about the property to determine whether or not you actually want to go through with it? Hope that makes sense. Thanks.

Viewing 6 replies - 1 through 6 (of 6 total)
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  • Kevin Farrell
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    Post count: 1196
    ProAdvanced

    Jordan – When the owner calls and says “I accept your offer, where do we go from here?” I tell them that I will need to do some research on the property and will call them back in a couple of days. They almost always say – OK, fine. If they question it, you can run through a short list – “I have to check chain of title, flood map, back taxes, and things like that to make sure it’s a good investment.”

    As Jill likes to say “They don’t know what you don’t know.” Say it confidently and you will sound like the land expert to them in most cases.

    Michael Aillon
    Participant
    Post count: 292
    Pro

    Hey Jordan,

    Like Kevin said, just tell them you need to verify the property and confirm that you actually can buy it (i.e. Is the caller the one who actually owns the property?). If they push back, just tell them “Mr. Seller would you buy a piece of property without doing a little research”? You also might tell them you buy lots of property and can’t possibly know all the specifics about every piece of property and that you can only buy the best ones. Just tell like it is!!

    Jordan
    Participant
    Post count: 34
    Pro

    Kevin and Michael,

    Great, thanks for the ideas! Hopefully most sellers will be accept that. I’m asking, by the way, because I did just send out a mail campaign late last week so I am being optimistic and preparing for actual calls this week.

    Just to play a little devil’s advocate, though, regarding the “would be buy property without doing a little research” question, couldn’t they come back with “well, why did you make me the offer if you didn’t already research it?” Yes, I made hundreds of offers so it would be impossible to research each one first, but they don’t know that. Note that this is different from a postcard campaign in which all you’re doing is advertising the fact that you buy land.

    Kevin Farrell
    Moderator
    Post count: 1196
    ProAdvanced

    Jordan – If you sent out 1000 or more and they are priced even remotely correctly, you will get calls. Make a couple of different scripts that you can use when someone calls. After about 10 calls you will not need them much. All those questions that you are worried about can happen but they don’t happen too often. Be polite and let people know what you are doing and when to expect your call and they will be fine. In the back of your mind you must remember – The people who are calling you think you are doing them a favor by offering money for this land they don’t want anymore. They have no idea how to get rid of it on their own.

    What you should be doing is thinking about your process once you agree to buy the property. Get those steps lined up so that you know exactly what to do and in what order to do them.

    So many things can not be taught. The lessons you will learn from taking the calls from your first mailer will be with you forever. You will make some mistakes and you will learn from them. It will be just fine.

    Good luck.

    Jordan
    Participant
    Post count: 34
    Pro

    I understand that. It’s just that I guess it’s something I think *I* would ask so I figure it might occur to others as well, but maybe I’m just especially analytical. Guess it’s good for you guys that I’m not a land seller! Though, hopefully I’ll be a land REseller soon.

    But, yes, believe me, I’m concerned about handling the process once I decide to buy the property! On that note, one quick side question I might as well ask now. If the seller does say yes (as opposed to mailing back the offer signed), do I still have to have them sign the offer and send it back to me, or is the deed enough to make it official? Thanks again.

    Kevin Farrell
    Moderator
    Post count: 1196
    ProAdvanced

    Jordan – No, you don’t need the PA signed to close the deal. In fact, I do most of them by phone. It is somewhat rare that people send those back to me with their signature. There are always some that feel that there must be a written agreement. Mostly they call on the phone, agree to your price, and you arrange to send out the deed and the check (however you choose to deliver those to the seller).

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