Facebook, Two Realtors, Hard Work And A Little Luck = Closing

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Real Estate Agent with Chestatee Real Estate 217370

I had a couple call me up a over 3 months ago, they e=wanted to buy 7 acres next door to them. They had been trying to find the absentee owner with no luck.

I noticed the property had been on the market before so I just contacted that agent hoping she could get in touch with the seller. She said she would be glad to work with me on the deal but informed me the seller moved a lot and was very hard to get in touch with. She first called every number she had and sent letters to every address. No reply. Then she found her on Facebook. Facebook was the only way the seller would communicate with their agent.

We found out there was a lean on the property. It was bought with owner financing and the previous owner had passed away. His estate had been trying to collect on the unpaid debt for years and were considering foreclosing. The property also had state tax leans.

As luck would have it I was the co-agent on a listing that was owned by the estate that held the lean. I was able to go over all the options open to the estate and they decided on a dollar amount they would settle for just get it over with.

The seller was asking way more than the property was worth for the property. Her agent went over her options including the reduced payoff I had gotten from the estate. The options were limited. They were, Option 1 hold out for more and face foreclosure or a tax sale. Option 2, sell it and walk away with a few thousand dollars. I told the sellers agent that I would advise the estate to start foreclosure if she did not sell. I educated the estate on the foreclosure process and had recommended an attorney to foreclose for them. Believe it or not it took the seller a long time to make up her mind. Why her agent and I could not tell. It seemed to us that it would be crazy not to sell and loose everything.

After three months of tracking down the seller and sorting through leans we went under contract and closed within two weeks of signing the deal.

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Rainer
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Gerard Gilbers
Higher Authority Markeing - Asheboro, NC
Your Marketing Master

Great job! Facebook is a resource that many people do not think to search although it is a decent search engine.

Jun 15, 2011 03:43 PM #1
Rainer
79,761
Jeff Getman
Realty Executives of Ravalli County - Hamilton, MT
Realty Executives

I had a property listed one time. We got an offer on it and it took me 6 weeks to track down my seller. I tried every number I had and finally resorted to sending a letter to his old address. Fortunately, it was back in the day when the post office actually cared about their job. The local mailman knew the seller's dad lived on the other side of town and delivered my letter to him. Dad then called my seller (who had moved to Las Vegas and just forgot to mention it to his Montana Realtor). If the mailman hadn't gone above and beyond, I never would have found the seller. It was back before the day of cell phones and Google being big so you had limited options. Fortunately, we had a VERY patient buyer and buyer's agent!

Jun 15, 2011 03:56 PM #2
Rainmaker
548,789
Eileen Burns
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FL Probate Agent, Hotel & Land Specialist

A true "grizzled" veteran knows how to be a detective as well.  This industry is exciting and what a story you have told.  You are tenancious and in the end you get rewarded for your efforts.  Well done Alan.

Jun 16, 2011 01:18 AM #3
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Rainmaker
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Alan Grizzle

Full Time Realtor, Lifelong Resident of Dahlonega
Contact me to buy or sell a home in Dahlonega or Dawsonville.
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