A note in Alaska, consultation on seller carry backs in Wisconsin and Dallas . . . this is all fabulous, but I really enjoy the opportunity to network with local sellers and real estate professionals when I get the chance.
There’s a real estate broker in Whittier that runs a traditional sales business who recently stumbled onto my website and we’ve been chatting ever since.
Because he thinks outside the box, he’s going to be taking a listing that most agents wouldn’t be able to. He has more ways to help his client meet his objectives, and can articulate them with confidence. Here’s an email he sent his client recently:
“I thought that I would send you a link to the listing around the corner. They started off at $525k and now they are down to $509k. It’s been a month+ and no offers.
Offering seller financing may get her property sold. I am working with another seller who is selling his property to his tenant. I’m working with both parties and the ONLY way they pull this off is with seller financing.
In order to get the price you want, you’ll need to offer/market seller financing. You’ll get a lot more interest that way.”
The attorney/seller responded:
“I would like to talk things over with you and see what we can accomplish with my mother’s house. In terms of seller financing - yes we can consider that.
With a decent down payment, we could consider carrying back a note and subsequently discount and sell that note.
Perhaps the best thing to do is to simply list the property at our asking price and indicate that sellers will consider some form of financing. We’ll get a feel for what people are willing to do, and let them come to us with proposals to which we can counter with all sorts of creative financing methods.”
What a freaking breath of fresh air! You can feel how fluid this attorney’s attitude is because he understands the dance between property and paper.
And since he’s local, and I’m building a relationship with this Realtor, I’m hoping I’ll be first in line to take a crack at that note . . . who knows, maybe I’ll even be brought in as a consultant to boot.
But it sounds like this pretty pair is going to be OK without me. I wish I knew of more conversations like this going on. If you know of some, share! I want to hear your story!
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