Getting a hold of a home proprietor in pre foreclosure is sometimes easier said than done. The property owner is probably being contacted by lawyers , overwhelmed with telephone calls, mail and bill collectors. The only methods of contacting the property owners would be by email, in person, snail mail and by phone.
The easiest way to begin is by email or snail mail . Let them know in youremail or letter that you are a property investor looking for property in their neck of the woods . Make sure thehouse owner understands that you may be able to assist them with their financial position .
Show a comprehension of the home owner’s situation . Let it be known in your correspondence that you may be able to stop the foreclosure. Inform them that you might be able to save their credit rating, and even supply some cash to help with moving expenses if necessary or pay some bills.
Your business card should be included and suggest that the property owner call you at their soonest convenience. If within a week or two you have not yet herd from them, send another letter worded more desperately. If the auction date is getting nearer you may want to send a few letters each calendar month.
If possible follow up your letters with phone calls. Making a phone call is Apparently the quickest way to contact the property owner. Remember this is a very stressful time in the home owner’s life, be polite, sympathetic and don’t be pushy. As a rule never discuss the details with the home owner over the phone . Just explain to them that in order for you to determine if you can help them, it would be best to meet at their home. Explain to them that the meeting will be more productive if they have the loan, mortgage, and insurance documents available, as well as their foreclosure notices.
When the decision to make an offer on the home , you will require theownership means, loan number and debt (or lien) information. Take this opportunity to appraise the condition of the property, as well as the emotional stability of the property owner. When you include the market value and the sum in default, you’ll have all the info necessary to develop your proposal .
If you decide to just drop by and talk to the home owners of foreclosure properties in person with out at least having sent a letter in advance be prepared to be asked to leave. People in general don’t like talking to someone who just shows up at their door about their personal affairs.
