How To Call An Interested Seller (CFFL 524)
Transcript:
Jack: Jack Butala with Jill DeWit.
Jill: Hey there!
Jack: Welcome to our show today. In this episode, Jill and I talk about how to call an interested seller back. Man, this is so important, and I'm looking forward to it, because I want to hear from the expert, Jill.
Jill: Thank you very much.
Jack: Before we get into it, let's take a question posted by one of our members on the LandInvestors.com online community, it's free.
Jill: OK, this is a little bit lengthy one, so I'm gonna preface that. So, new member here, in our group, Shammgod. This is [inaudible 00:00:32], shares. "Agreed on my first deal today. I figure I'd post it here, just to write out my thought process and so that if I'm missing anything, someone will hopefully correct me.
Details: Seller and his father are both on the deed. He sent me a copy. I couldn't locate it exactly on the map, but agreed on a price way below anything on the market."
Jack: Red flag.
Jill: "I talked to the recorder and they verified things, and talked to the treasurer and the taxes are good."
Jack: This is good.
Jill: "Next steps: getting them a contract. I'm planning on sending them a small deposit because I don't think it's valid without one."
Jack: Not necessary.
Jill: I would just say weird.
"This is a small deal so I'm planning on doing title myself."
Jack: Awesome.
Jill: "I think that I need to get notaries for both the father and son because they live in different states."
Jack: Yes. This is boring.
Jill: It's distracting.
Jack: It's distracting, am I stealing your thunder?
Jill: Just a tad.
Jack: It's sad?
Jill: Just a tad. No, you are, like every time I take a breath.
Jack: Are you sad today?
Jill: It's like darn don't pause, Jack's gonna throw something in there.
Jack: Jack you're sad.
Jill: I'm not sad.
Jack: Jack, you're a sad little real estate investor.
Jill: I'm just trying to share a story. Can I just share a story?
Alright, where was I?
Jack: "My biggest question..."
Jill: Oh shoot, no I'm sorry wait, I totally, as we say that I just lost my place. Wait, wait, wait, wait, wait.
Jack: "My biggest question..."
Jill: OK, "my biggest" ... do you want to finish this?
Jack: "My biggest question around title or having the notary hand them the cheque is-"
Jill: Too bad. [inaudible 00:02:19] I want to be Jack, this is good.
Jack: "My biggest question around title or having the notary hand them the cheque is, what if I mess something up on the deed and I find out afterward it wasn't done correctly?"
Jill: Boo hoo.
Jack: "The seller would have already had the money."
Jill: Uh-oh.
Jack: Oh my god, sound effects Jill.
Jill: Well this is what it's like.
Jack: "I feel like there's probably a step here where I should make sure this doesn't happen if we're using a title company. That's a ... you know ... but I'm not sure what it is."
Jill: Alright, I'm taking back over. "What's the play there?