When you’re in the real estate investing business, getting your Purchase and Sale Agreement (PSA) signed is a top priority, as sealed deals assure you profit. There are a lot of steps leading up to getting that signed, all of which I discussed at length in our Foreclosure Mastery Investment course.
You certainly don’t want to go through all of the steps to market to your target audience, get that appointment with the seller, and go over all the details, only to have them say “no” when it comes time to seal the deal. You want to do all that you can in order to get yourself a really good investment deal and at the same time, help a distressed seller sell their property quickly. That way, it’s a win-win situation for everyone.
Briefly, the following are key areas that I focus on:
- Rapport Building: The first thing I want you to focus on is building rapport with the seller. What I mean by this is engaging with them in a friendly way, where you connect with them on a heart level. They want to know that you actually care about them and you’re not just in this for the money.
- Assure Them Of Your Credibility: There’s a credibility kit that I include in the Foreclosure Investing Mastery course. Be sure that you go over that credibility kit, so they’re able to see that you are a reputable, legitimate business.
- Let Them Talk: Let the sellers talk to you about their housing situation and what problems they’re facing with their home. If you don’t understand their “why”, then they might not feel heard and become leery. Assure them that you’re in the business of helping distressed sellers get out from under their housing problem quickly. Tell them that you’re sure that your solution is better than any solution that a realtor may have.
- Teach The Seller: In the course, I provide a script and strategies to educate the seller on the process. Stick to the script and trust that this is the best way for you to assure them that your solution is the best for their situation.
- The Closing: Discuss closing dates and dates the sellers can move out.
- Negotiate: Negotiate until you get the price down to the lowest possible point.
- Come to terms: Be sure that you take the time to agree on the details before you even take that purchase and sale agreement (PSA) out. If you lay that out on the table before this, the sellers may become anxious or feel pressured.
- Explain The PSA In Detail: Go over everything in detail.
- Get Their Signature: The last thing that will happen is that they will sign the contract.
From A to Z, getting a signature is a process. Take the time to learn the process as I teach it in the Foreclosure Investing Mastery course. Take your time going through it as well, and allow the sellers to ask any questions they may have. It is important that you are personable with the sellers, letting them know that you truly do care about them and you want the best for them.
Sure, you want a signature on the PSA, but you also want the sellers to know that you are pleased to be able to come to their rescue so that they do not have to foreclose on their home.