How to Find Motivated and Distressed Sellers
There are many different types of motivated sellers are looking to sell their properties outside the conventional real estate advertising cycle. These distressed sellers are absentee landlords, divorce filers, those looking for new jobs or school districts and REO’s or real estate owned properties, which is a property taken back by a lender, usually a bank during foreclosure. FreedomSoft gives you instant REO leads.
Looking outside the conventional real estate advertising cycle such as signs, websites and classified ads, here are some ways you can find motivated sellers to include in your marketing.
Begin by searching the Internet. Many banks maintain online lists of foreclosed properties. A few national lenders who maintain websites of bank-owned properties are Countrywide, Bank of America and Chase Mortgage. Realtor.com, Zillow.com and BuyBankHomes.com allows you to search by foreclosures. BackPage.com and CraigsList.com are also great places to find motivated sellers in pre-foreclosure, divorce, bankruptcy and probate.
Lenders will sometimes hire an asset management company to manage foreclosures on the lender’s behalf. Subprime mortgage companies use HomeEq Servicing, Wells Fargo uses Premiere Asset Services and Keystone Asset Management is an agency that deals with defaults.
Search for government agencies such as Housing Urban Development, or HUD, and Fannie Mae for foreclosure homes and the Department of the Treasury for homes seized by the Internal Revenue Service.
While some experts agree that auction companies often get higher prices due to the auction frenzy created among its bidders, you can get lucky and find a real gem at one. Real Estate Disposition Corporation, J. P. King, United Country Auction Services, Williams & Williams and Bid 4 Assets are some auction houses to check out.
Foreclosure.com and Realty Trac are web-based foreclosure companies who charge a fee for providing you with a list of foreclosure properties. They reason that it takes time, trouble and expertise to locate and assemble accurate national foreclosure lists. You may find it is worth the fee to let these companies search for you.
Hiring a bird dog can be one of the most effective ways to find wholesale deals. Bird dogs can be casual contacts, such as delivery drivers and service people, or professionals trained to scout for properties. Look for high school or college students who want to earn extra income or new investors trying to break into the business. Have your bird dog take front and back photos of the prospective property and fill out a detailed form. Pay them either a referral fee or a per-lead fee.
Be aware that not all foreclosures are great bargains and you can run into unexpected and costly problems. If you are inexperienced at buying foreclosures, you may want to hire a real estate agent for guidance and assistance.
In addition, continue to use conventional real estate advertising such as direct mailings, emails, bandit signs and newspaper ads to find motivated sellers. Attract them to contact you and build a rapport with them. Word of mouth is a great marketing tool.
A consistent flow of motivated seller leads is probably the most important aspect of your real estate investing business success. FreedomSoft will automatically provide many instant sellers leads for you as well as capture and maintain leads you obtain on your own.
A consistent flow of motivated seller leads is an important aspect of your real estate investing business success. FreedomSoft will provide many instant sellers leads for you. Visit www.Preston-Ely-Freedom-Soft-review.com to preview this new software system.