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I am very sorry but I have to ask you this question:

By
Real Estate Broker/Owner with Richard Weisser Realty

 

I am very sorry but I have to ask you this question:I received a call yesterday from a homeowner that was interested in selling her house. We chatted for a few minutes about the property and her reasons for selling.

But at some point in the conversation, I had to ask the question that I ask all potential home sellers. I always preface it by first saying something like:

I am very sorry but because of current conditions in our market, and meaning no disrespect, I have to ask you this question:

Are you current with your mortgage payments?

It’s a harsh question to ask, but it is an important one because it goes directly to the core of how I intend to move forward with marketing their home. And it also affects my listing presentation, and the services that I can offer.

And so far, no one has been offended by the question. Everyone appreciates the fact that we live in troubled times, and that default and foreclosure are now part and parcel of the real estate industry.

As a matter of fact, most sellers want to take advantage of the foreclosure market for their next purchase.

So I ask the hard questions because I want to service the client to the best of my abilities.

Because I can’t help them if I don’t know all of the pertinent facts!

 

Kristi DeFazio
RE/MAX Advantage - Colorado Springs, CO
Colorado Springs Rea lEstate 719-459-5468

It is an important question. Most will tell you, eventually...but it is better to get it out of the way.

Apr 29, 2011 12:13 PM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Richard, you have to ask that question. If you don't, not only will it make you look bad later, but in the long run, it'll make the success of selling the home extremely difficult for everyone involved.

Apr 29, 2011 12:44 PM
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Frenchtown, MT
Content Marketer, SEO Teacher, Website Fixer

Richard, you have to qualify your clients right up front. Its hard to do so... but must be done. Nice job. congrats on the feature.

Apr 29, 2011 12:45 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Richard, that is an essential question to ask in this market, and the other question that follows is to ask the outstanding balance on the mortgage. These are not east times.

Apr 29, 2011 12:55 PM
Robert Hammerstein -
Christie's International Real Estate - Hillsdale, NJ
Bergen County NJ Real Estate

Richard - Yes this is a question we must ask each listing appointment we go to... It's the hard questions that gets us to service them properly..

Apr 29, 2011 12:58 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

I ALWAYS ask THE question along with some other pertinent difficult ones... 

Apr 29, 2011 01:10 PM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

How does that go?? Forewarned is forearmed? I am going to implement this into my presentations. Thank you!

Apr 29, 2011 01:24 PM
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

We have to "cut to the chase" as the saying goes.  Although hard to do it's the best wasy to do it.  You need to discuss the situation and get on with it. Good read today, thanks.

 

Patricia/Seacoast NH & ME

Apr 29, 2011 02:16 PM
Howard and Susan Meyers
The Hudson Company Winnetka and North Shore - Winnetka, IL

Richard...you are absolutely correct.  If we don't ask the hard questions first, we're not serving anyone's best interests.

Apr 29, 2011 02:43 PM
David O'Doherty
Clayton, NC
Clayton NC Homes, Raleigh, NC

Richard as my other "NC Brothers from another mothers" mentioned we have it in our new contract. So while you fill this form out I'll be checking out your house!

Apr 29, 2011 03:12 PM
Kim Inman
Mountains to Lakes Real Estate, Inc. - Harriman, TN
CRS, Broker/Owner

Richard...such a meaningful question to ask and such a delicate way to ask it. I'm borrowing this from you and will use it the next time I meet with a seller.

Apr 29, 2011 04:19 PM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
The more questions answered the better we are able to assist.
Apr 29, 2011 04:48 PM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

And also, current with the HOA's?  How about taxes??  These are very challenging times for all.  Good questions that need to be raised Richard!

Apr 29, 2011 05:20 PM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Richard:

We have to ask the question and you have illustrated a good way to ask.

Apr 29, 2011 06:17 PM
Mike Mayer
Mike Mayer, Broker/Owner - i List For Less Realty, LLC - Lafayette, LA

It's essential to perform the fact-finding tasks in order to derive at a sound decision. How can you represent a client without all the details?

Apr 29, 2011 06:32 PM
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

All the hard questions need to be discussed and answered in todays market.we don;t need any surprises.

Apr 29, 2011 06:52 PM
Orlando Masis
Appraisal IQ (Real Estate Appraisal) in Austin Texas - Austin, TX
Austin Appraiser, for Real Estate

Good advice - better to ask up front than find out after a LOT of work that the seller is going to have a really hard time actually selling the property.

Apr 29, 2011 06:52 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Richard, cutting to the chase and asking will make it a lot easier on you and the client in marketing their home.

Apr 30, 2011 02:43 AM
Dennis Burgess
AmeriTeam Property Management - Mid Florida, FL
Orlando Property Manager and Realtor

Hi, Richard:  I have to ask this of any owners I take on as well- as well as the accompanying "Are you also current on your HOA/COA dues?" queston.  I can't lease out a place that's under a forecloure filing (although the backlog in our Orange County courts has grown to more than a year and there are times when a tenant would actually be able to finish an entire lease before the gavel fell on a sale).The HOA dues status has gotten to be a much bigger problem.  I can't worry about whether an owner's feelings get hurt or anything.  An owner in good shape will appreciate the questions for my being thorough- and I'm less concerned with folks not in good shape- because I can't work for those folks anyway.

Apr 30, 2011 06:12 PM
Laurie C. Bailey-Gates
Robert Paul Properties - Barnstable, MA
ABR, SFR

Hi Richard,

The next question to ask is "are you currrent on your equity line?" - I find many sellers do not consider an equity line a mortgage and this is the first loan they will default on.

 

Laurie

Apr 30, 2011 11:40 PM