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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] The best time to approach owners varies with the market. Posted by Ward-CA- on May 23, 2002 at 6:44 PM In Reply to: Psychology of people in foreclosure (best time toapproach) posted by Greg -CA on May 23, 2002 at 2:57 PM : I'm reposting this, the last post became comingled with "Mary's" post somehow. Greg : Ward, : From what I've seen the best time to approach is actually about : 3 or 4 days before the sale. At least in terms of finding : motiviation to sell. : In the first 3 months (NOD period) door knocking seems like a total waste of time. : In the first week or so of the NTS period the owner finally realizes he "has to do something", but still has some hold-out hope for a relative purchase, or other miracle. : The trade-off here of course is losing to a competitor, who hits them one day before you do. : What are your thoughts? : Greg =•=•=•=•=•=•=•=•=•=•= Greg, it seems that the “right time” to approach an owner before the auction sale will vary with the kind of local real estate market we’re in. If the general concensus is that we’re in a slow, buyer’s market then owners in foreclosure are eager to talk with us early in the game. However, if we’re in a speedy seller’s market then the foreclosure owners prefer to wait until a fantastic offer comes along. So, I agree that in our hot seller’s market right now you won’t get anywhere going out during the first three months. When the deadline gets down to 3 - 4 weeks owners then become much more realistic and are willing to listen to your proposal. If a competitor hits them just ahead of you all is not lost. That’s because of the 5 Day rule in Civil Code Section 1695 that mandates a cooling off period where the owner can freely cancel their contract with A and deal with you. Hope this helps. Follow Ups: hoodia Harry Juna 9:00 PM, 02/03/05 (0) Re: The best time to approach owners varies with the market. greg CA 8:24 PM, 05/23/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I'm reposting this, the last post became comingled with "Mary's" post somehow. Greg : : Ward, : : From what I've seen the best time to approach is actually about : : 3 or 4 days before the sale. At least in terms of finding : : motiviation to sell. : : In the first 3 months (NOD period) door knocking seems like a total waste of time. : : In the first week or so of the NTS period the owner finally realizes he "has to do something", but still has some hold-out hope for a relative purchase, or other miracle. : : The trade-off here of course is losing to a competitor, who hits them one day before you do. : : What are your thoughts? : : Greg : =•=•=•=•=•=•=•=•=•=•= : Greg, it seems that the “right time” to approach an owner before the auction sale will vary with the kind of local real estate market we’re in. If the general concensus is that we’re in a slow, buyer’s market then owners in foreclosure are eager to talk with us early in the game. However, if we’re in a speedy seller’s market then the foreclosure owners prefer to wait until a fantastic offer comes along. : So, I agree that in our hot seller’s market right now you won’t get anywhere going out during the first three months. When the deadline gets down to 3 - 4 weeks owners then become much more realistic and are willing to listen to your proposal. : If a competitor hits them just ahead of you all is not lost. That’s because of the 5 Day rule in Civil Code Section 1695 that mandates a cooling off period where the owner can freely cancel their contract with A and deal with you. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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