Where to Find Motivated and Distressed Sellers

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There are many different types of motivated sellers are looking to sell their properties outside the conventional real estate advertising cycle. These distressed sellers are absentee landlords, divorce filers, those looking for new jobs or school districts and REO’s or real estate owned properties, which is a property taken back by a lender, usually a bank during foreclosure. FreedomSoft gives you instant REO leads.

Looking outside the conventional real estate advertising cycle such as signs and classified ads, here are some creative ways you can find motivated sellers to include in your marketing.

Search the Internet. Many banks lists foreclosed properties online. A few national lenders who maintain websites of bank-owned properties are Countrywide, Bank of America and Chase Mortgage. Some great websites that allow you to search by foreclosures are Realtor.com, Zillow.com and BuyBankHomes.com. 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 another avenue to explore. Look at Housing Urban Development and Fannie Mae for foreclosure homes and the Department of the Treasury for homes seized by the Internal Revenue Service.

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 real gem at one. Some auction houses to check out are 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.

One of the most effective ways to find wholesale deals is hiring a bird dog. Bird dogs can range from casual contacts, such as delivery drivers, mail carriers and service people, to professionals trained to scout for properties. Look for high school or college students who want to earn extra money or new investors trying to break into the business. Have your bird dog take photos of the front and back of the property and fill out a detailed form about the property, then pay them a referral fee or a per-lead fee.

Keep in mind that not every foreclosure is a great bargain and you can run into unexpected nightmares. There are drawbacks to buying foreclosures but some foreclosed homes are diamonds waiting to be polished. Inexperienced foreclosure buyers might want to hire a real estate agent for guidance and assistance.

In addition to these creative ways to find distressed and motivated sellers, continue to use conventional real estate advertising such as direct mailings, bandit signs and newspaper ads. Attract them to contact you and build a rapport with them. Word of mouth is a great but underestimated marketing tool.

A consistent flow of motivated seller leads is probably the most important aspect 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 obtain 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 preview this new software system.

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Topics: Real Estate | Comments Off

Tags: alex pardo, freedomsoft, freedomsoft review, freedomsoft review blog, Internet Marketing, making money in real estate, making money wholesaling, preston ely, pros and cons of freedomsoft, Real Estate, real estate business, real estate investing, real estate wholesaling

Article Citation
MLA Style Citation:
Pardo, Alex "Where to Find Motivated and Distressed Sellers." Where to Find Motivated and Distressed Sellers. 29 Dec. 2009. uberarticles.com. 10 Feb 2012 <http://uberarticles.com/real-estate/where-to-find-motivated-and-distressed-sellers/>.

APA Style Citation:
Pardo, A (2009, December 29). Where to Find Motivated and Distressed Sellers. Retrieved February 10, 2012, from http://uberarticles.com/real-estate/where-to-find-motivated-and-distressed-sellers/

Chicago Style Citation:
Pardo, Alex "Where to Find Motivated and Distressed Sellers" uberarticles.com. http://uberarticles.com/real-estate/where-to-find-motivated-and-distressed-sellers/

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