There are many different types of motivated sellers looking to sell their properties outside the conventional real estate cycle. These distressed sellers include absentee landlords, probate estates, divorce filers, job or school district relocators and REO’s or real estate owned properties, which is a property taken back by a lender, usually a bank during foreclosure. FreedomSoft will provide you with instant REO leads.
Looking outside the conventional real estate advertising cycle, 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.
Some lenders hire an asset management company to handle foreclosures on the lender’s behalf. Wells Fargo uses Premiere Asset Services, subprime mortgage companies use HomeEq Servicing and Keystone Asset Management is a national agency that deals with defaults.
Government agencies can be helpful. Look at Housing Urban Development, or HUD, and Fannie Mae for foreclosure homes. The Department of the Treasury has homes seized by the Internal Revenue Service.
Auction companies hold huge auctions, sometimes selling as many as 100 homes or more in a day. While some experts agree that auction companies often get higher prices due to the auction frenzy created among its bidders, sometimes you can find a gem. Check out Real Estate Disposition Corporation, J. P. King, United Country Auction Services, Williams & Williams and Bid 4 Assets.
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.
Keep in mind that not all foreclosures are great bargains and you can run into unexpected nightmares. There can be drawbacks to buying foreclosures but some foreclosed homes are diamonds in the rough. If you are inexperienced at buying foreclosures, you may want to hire a real estate agent for guidance and assistance.
Continue to use direct mailings, emails, bandit signs and newspaper ads to not only find motivated sellers but to attract them to contact you and build a rapport with them. Word of mouth is a good marketing tool as well.
A consistent flow of motivated seller leads is the most important function 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 find 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 review this new software system.