seller finance deal questions i ask

  • seller finance deal questions i ask

  • Jay St Hilaire

    Organizer
    December 18, 2019 at 9:55 pm

    Here is a list of questions i ask my buyer in a land contract deal  :

    BUYER QUESTIONS that will enable me to better serve you

    Name:

    Phone #

    Email:

    1-What area- specific location do you need?

    2- what do you have for a down payment?

    3-what monthly Pymnt do you need ?

    4- how soon do you need property?

    5- how soon can we start process if I have what you need ?

    6-Cash down Pymnt or do you need to get down Pymnt financed by other ?

    7-friend request me on Facebook,linked in , Instagram

    8-minimum bedrooms needed ?

  • Jay St Hilaire

    Organizer
    December 30, 2019 at 9:20 pm

    The people who respond to your marketing attempts are called LEADS ! so WHY do you ask your LEADS these 8 questions ? first off #1.name…..you need to get the names of leads so you can begin to  FILE their names and possibly negotiate to sell to them. this file system is where you will keep all these questions and names and emails because if they dont buy this one deal from you then you can RECONNECT by email or phone when the next deal you have comes along.same with …phone # and email , these are gold in keeping and filing because you can keep in touch with more deals and also give FREE valuable content to keep them on your mind and more important they will keep YOU on  their mind. Its a way to keep the communication pathway intact. we will be discussing WHY #1 is a valuable question coming up next !! any questions ?? I am here to help with your seller financing info

  • Jay St Hilaire

    Organizer
    January 14, 2020 at 5:35 pm

    WHY IS # 1 question we ask Important ? 1-what area ? specific location ?

    because sometimes the buyer is not very specific and they don’t drill down the exact location they want UNTIL you as the investor guide them.IF this communication is not clear when you ask for this info then you are wasting time on finding them the wrong location .I have experienced this many times until i emphasized the specifics of where they needed.One location category is School district.These school districts have to end and BEGIN SOMEWHERE and if you are located on the wrong side of the road or district line you WILL NOT be happy you started the buying process in the wrong school district 🙂

  • Jay St Hilaire

    Organizer
    January 19, 2020 at 11:47 pm

    What Do You Have For A Down Payment ?……… this question is to draw out what your Rent to own buyer has available per month to spend on the monthly payment.I always emphasize that they need to keep in mind they will also be responsible for taxes ,Insurance and maintenance.At Least this is the case on all my Land Contract strategies. This is no longer a Rent situation.Your buyer will be buying from you on a land contract where they will be taking on the  responsibility of home ownership.I Usually go over How to develop a budget with them or minimum give them the resource to implement so that they will be able to come up with their Specific monthly payment.This is the number you will use to figure out YOUR MONTHLY PROFIT ALSO.What do i mean ? for example if they pay you $650 per month then IF you have financing on this property or a monthly payment and you want a profit of 200 then your financing payment MUST BE 200 less than the whole 650 payment from YOUR BUYER less the tax and insurance owed. 

  • Jay St Hilaire

    Organizer
    March 8, 2020 at 5:01 pm

    #3-WHAT monthly down payment do you need ?

    this is the number (your buyer ) will come up with that they can afford per month taking into account that they still will need tp pay for insurance,taxes and maintenance.this number shall be what their budget predicts fir their specific situation.

    from the your perspective (the seller) this number is the one that will predict your profit per monthly payment.for example : if you can negotiate a rent to own or seller finance you are buying to resell to another rent to own buyer and you have a buyer that can pay $650 per month then you know you need to negotiate a buy price of 250-450 per month to make at least a couple hundred profit.

    when communicating with a seller to negotiate the monthly payment to them , there are certain questions that need to be asked.the first question you will ask them is ….do you have an existing mortgage or loan on this property ? if yes then what is the monthly payment ? now you will have the number for you to negotiate.They will want to make more than what they have to pay but if they are extremely MOTIVATED then they may take the same amount they owe per month just to get out from their debt.

    Another question you can ask is what is left on the total price of your mortgage ? In some case they may not want to disclose this number but a great way to extract this number is say ….If i was to PAY OFF your entire mortgage in a short period of time then what would i have to come up with ? …….alot of times its HOW you ask or inject the questions to extract the answers.

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