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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: The best time to approach owners varies with the market. Posted by greg CA on May 23, 2002 at 8:24 PM In Reply to: The best time to approach owners varies with the market. posted by Ward-CA- on May 23, 2002 at 6:44 PM Ward. yes your answer was helpful. I've been earnestly knocking doors enough now to verify that there are real opportunities. The biggest challenges left I see, are doing it efficiently (so much time required, lots of data to sort through) and dealing with the owner. Its difficult to balance between being gentle enough not to make them nervous or angry, and being agressive enough to get the information needed. Regards, 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: Post a Followup: Name : E-Mail : Subject : Comments: : Ward. yes your answer was helpful. I've been earnestly knocking : doors enough now to verify that there are real opportunities. : The biggest challenges left I see, are doing it efficiently : (so much time required, lots of data to sort through) and : dealing with the owner. Its difficult to balance between : being gentle enough not to make them nervous or angry, and : being agressive enough to get the information needed. : Regards, : 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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