How to Spot Seller Motivation and Close Fast! 🚀

Just dialing for dollars. Hello, is this Linda? Who wants to know? Linda, my name is Lane. I am calling because you had reached out about your property that you're looking to sell. Is now a good time? It's already sold. Wow, you sold that quick. Did you get it in contract or did it—

No, the people that were living there, we did an owner finance.

You did an owner finance. Okay. All right.

Well, hey, that's all you need to know. Thank you.

Great. Anything changes, you let us know. Okay, never mind.

That was actually so— so that's so good. I love these because there's a lot to take away from them. So on that call, right, right off the bat, she's like, it's all done. Lane didn't just hang up and get off the phone. No, we want to confirm that. Oh, okay, got it. So you already have it under contract, or it's—

it's—

oh, you're past the closing date. All right, again, we want to confirm because that answer can— oh, it's already taken care of, or oh, we already sold it. We might think that's a really simple answer, but guys, depending on who you chat with, people have a lot of different definitions. And, and if you're in this business long enough, you'll know that, guys, a deal is not done until it is past the closing date, everyone signed, and the money has been funded to all the appropriate parties.

Yeah, I can't tell you how many deals I have gotten that they sold it to somebody else and it ended up falling out and it comes back around. It happens all the time. So that's why I was trying to understand with her, do you have it in contract or has it actually closed? Because if it's in contract, it's probably in contract with another wholesaler, and a lot of wholesalers don't know what they're doing, and they end up asking for price reductions or canceling the contract, and then it just comes right back to you if you can have that— build that rapport with them.

And even owner financing, especially, guys, how many times where it's, oh, they're our friends, oh yeah, they said they can do this price, and, and then after a couple weeks or a month or two, they're like, oh, they weren't able to come up with the money for the down payment or, you know, things got, got weird with the payments and this and that. That happens all the— I bet you she doesn't even have it. They probably don't even have any kind of written agreement. She probably thinks it's a done deal because she spoke with the people, they said yes, and they have a verbal agreement. If I were a betting man, that would be my bet.

I would follow up with that.

I would imagine too, because she just filled out my form this morning. I mean, that lead came in today.

Yeah, yeah, for sure. I— that she, she ain't even gotten close to getting that thing done. It was interesting because we're thinking about— we're, we're not thinking, we're I'm moving to Canada, guys, and I called about a house that I want to buy, and they're like, yeah, it's sold. It's like, what do you mean it's sold? You've listed it yesterday. They're like, it's sold. So like, even agents out here, they don't understand the terminology. Is it under contract or is it sold? No, it's under contract, but it's firm. Okay, so it's not sold. So like, just, it's like, dang, some people just don't understand.

Hello, is this Beatrice? Yes, it is. Hi Beatrice, my name is Lane. I was calling about the property that you had submitted on one of our sites on 5th Street that you're looking to sell.

Uh, yes sir.

Is now a good time?

Oh yes, it is.

Good. Well, hey, I appreciate you reaching out. What can you tell me about what you got going on there with that property?

Uh, well, it's financed through, uh, USDA, and I'm a little bit behind on the payments because, uh, my payments went up and it needs a lot of repair, and I'm just not financially able to fix it.

Okay. I have enough stress going on in my life right now. Are you living in the property right now, Beatrice?

Yes, I am living in it, but, uh, I also live with my mom about 1 or 2 days out of a week.

Okay.

And, uh, I just be out here just in case she need me.

Okay. And Beatrice, how far behind are you on the, on the mortgage?

Uh, about $1,200.

Okay, what is the monthly payments?

$485.

Okay, $485. So you're not too far behind, it's a couple few months, right?

Right. Uh, yeah, I bought a used vehicle and seemed like every time I get one thing fixed, something else goes wrong.

Yeah, yeah, that's kind of how it goes sometimes.

Yes.

Yeah, I understand, Beatrice. So you already have a place to move to if we were able to come and buy your home?

Uh, yes sir, I'm in the process of moving in with my mother because like I said, she's gonna be 82 in September. She needs some assistance.

Oh well, that's— that works out good. At least there's some positive in this. Can you repeat that? What's that? What is, uh, how many bedrooms and bathrooms is the home, Beatrice?

Uh, it's a small single-family home, 2-bedroom, 1-bath.

Okay, so 2-1, and you're saying that it's in, in need of a lot of repair? Like, does it need everything? Does it need a roof, AC unit?

No, not the roof. However, it needs some plumbing work done. Not, uh, a lot, just drainage problems. The water works, toilet flush, tub drains, but, um, both sinks, kitchen and bathroom, um, having problems with the drainage.

Okay, uh, what about the toilets?

Yeah, toilet flush is fine.

Okay, yeah, okay, that makes sense. That could just be in the, in the P-traps or in the plumbing under the sink and stuff. Have you had a plumber take a look at it?

Yeah, I had, uh, septic people tell me that they think it's some roots from the trees under the house causing some problem with the pipes.

Hmm, well, that's interesting because if your toilets drain fine Seems like that wouldn't be the problem, but I'm not a plumber, I don't know.

But that makes—

exactly the same here, and I just don't have the finances right now to do any kind of, no investigative work.

Yeah, and you said it's a USDA loan that's in place?

Uh, yes, it's financed through USDA, a mortgage company.

Yeah, yeah, I'm very familiar with that. Um, do you know what the balance is on the loan, like the total amount that's owed?

Uh, yes, sir. I still owe $53,000, I believe, give or take.

Okay, okay. And Beatrice, how much are you hoping to get for it if I came in with a cash offer, bought it as is? What were you hoping to sell it for?

Actually, I just want out the contract. If y'all can just pay it off and it comes with the land, I would be most gracious just to get off under the contract.

Okay, well, let me give you a couple options. So our, our cash offer, our cash offer would be well below what you owe, so I don't think that would work. I, I assume you don't want to write a check to close this house, right?

Well, uh, once I moved all my furniture and belongings out of it, you know, I was also put a sign out front to say house for sale as is. Yeah, a lot of Hispanics in my neighborhood is buying up property right now.

Gotcha. Well, I'll tell you what, our other— yeah, yeah, I think I have an option to be able to help you to save you from foreclosure, and that would be I'll just come in and I'll take over that loan. I'll relieve you of the responsibility to make those payments every day— or every month, sorry. I will take that responsibility, but that's about all I can pay for the home. I can bring that loan current if you can, you know, maybe text me a picture of your reinstatement of the exact amount that's owed to make it brought back current. And I think I can get that done because in my opinion, the home is worth maybe a little bit more than what you owe, but not much. There's not a ton of equity in it, but you have a pretty good loan in place.

I've had like 2 or 3 real estate agents to come out and evaluate it, and their opinion is that I'd be upside down in it or I'd suffer a loss because it needs work. And the floor was a little offside.

Gotcha. So I think that's probably your best solution. And so you don't have a foreclosure on your credit, which would be, you know, stay on there for the next 7 years. I can come in, bring in enough cash to reinstate that loan and just take over those payments for you. Is that something that you'd be interested in?

Really? I don't understand. So obviously, forfeiting the contract to you.

Correct. I would be buying your home subject to that loan staying in place, and I would just take that loan over, and then you can move over to your mom's, and we can save it from foreclosure, and I make those payments every single month.

Hmm, I wasn't expecting that. What if, um, hmm.

Let me ask you this, Beatrice. Do you know what interest rate that loan has?

Um, I have to guess. I'm not sure. I don't know. I have to look at my contract.

Well, it's, it's $485 a month, right?

Yes.

Yeah. And so that's the only way that I'd be able to make this, this deal work, because you have a very low payment. And for me to go out and get a new loan, interest rates have gone up so high, um, it would cost me a lot more money to get another loan on the home. So it's very beneficial, and that's The way that I can get this deal done is because I can leave that loan in place. And so then it would make sense for me. If I have to go out and get another loan, my payment's probably going to double or maybe even more because interest rates have doubled. And so it would cost me a lot more money. And if so, if I can, if I can leave that low payment in place, it makes the deal work for us. And to be honest with you, Beatrice, I don't see another way selling your home right now because just like the realtors told you, you'd be upside down because of the amount that's still owed. And so by leaving it in place, it makes it worth it for us.

I'm not sure about that one because like, if y'all finish paying it off, that would improve my credit score, correct?

Well, we would bring it back current so you wouldn't have any late payments on your credit anymore because we would bring it current.

Right. And then y'all gonna resell it or rent it out? I don't understand.

No, we will hold it. We'll hold it and probably keep it as a rental because there's not enough equity. We wouldn't make any money if we go and try and flip it with the amount of money we have to put in it and what the home is worth. It doesn't make any sense for someone to come in and try and do it as a flip.

Okay, well, um, how about I just, uh, sleep on it and think about it? Because like I said, I wasn't expecting that, but it does sound doable.

Honestly, Beatrice, I don't see another option.

So should I talk to the bank about it? Should I—

No, no, don't. No, don't, don't do that because we got to leave. We're leaving the loan in place. That loan is getting— it needs to stay in place in order for this deal to work. I have all the paperwork that is— it's ironclad. It's been worked on by lawyers over the years and years, and everybody's protected. It protects you. It protects me. If we, if we have to go in and pay that loan off right now, this deal doesn't work. And I don't think it'll work for anybody. And then it's going to end up going to foreclosure.

Right. Because right now it's not in foreclosure.

Yeah. Probably one more month though. It will be.

Let me sleep on it.

Okay. Yeah.

What did you say your name was again?

My name is Lane. Lane Peterson. And this is the best. This is the best number. Yeah. This number I'm calling you on.

Yeah. I kind of like the idea of it, but like I said, I wasn't expecting it. I wasn't sure how that worked. So let me, uh, do my background and I will get back with you within 24 to 48 hours.

Awesome, we'll talk then, Beatrice. Thank you so much.

All right, thanks for your time.

Okay, have a good evening. Bye. You don't have another option. Oh, so that—

she just hit us with all the pillars of motivation: time, condition, every— I mean, you name it.

Motivation. Yep, everything. Price.

One of the things that I loved is— and I do creative the same way when talking to a seller. And this is where I see a lot of people—

Excellent job, Blaine. Excellent.

Where they kind of go wrong with it is a lot of times I see a lot of people to where it's— you guys are trying to get too technical with it, you know, explaining, oh, you know, it's a subject-to document, here's how it works. And, you know, and just getting into all the technical stuff. And guys, the seller, like, it just loses you. And then you basically lost her.

You kept it really simple. So imagine if you went deeper.

I was trying to keep it as simple as I could, you know, because she was just like, how does that How does that work? How does that work? You know, you got to just got to keep it simple.

And when you have a motivated seller, like, guys, they're going to move forward with it. And again, because like you were saying, she doesn't have another option. And so, you know, yes, we can answer a little bit more questions if it really, really comes down to it. But there really isn't a need to waste the time because either yes, she's going to do it and then we can just move forward. And I don't need to spend an hour or 2 hours explaining the ins and outs of subject to and all that stuff. Or she's going to let it go to foreclosure. You know, it's—

her freaking realtors told her, yeah, you're going to— you're going to have to write a check to sell this house. You're upside down.

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