Why Promote Your Completed Sales
Jack Butala: Why Promote Your Completed Sales. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hello.
Jack Butala: Welcome to our show. In this episode Jill and I talk about why you would ever want to promote your completed sales in a positive way. You always want to promote your completed sales. Be proud of your performance. Great show today Jill. Let's take a question posted by one of our members on successplant.com. It's our free online community.
Jill DeWit: Cool, all right. Angela asked, I'm working on my third deal. My first one closed. Second one is closing this week and the third purchase to close next week. I just sent this new property listing to my buyers list, which I created from all the inquiries from the first two, nice. Within 15 minutes I got a response from a guy that wants to buy on terms.
Jack Butala: Oh Angela, you're doing everything right.
Jill DeWit: Exactly.
Jack Butala: Everything right so far.
Jill DeWit: I put in the land contract that the down payment is nonrefundable, but does anyone ever refund any of the monthly payments, when it takes the buyers a few months to physically see the property and then decide they don't want it? If you do, is there a time limit on it? I'm concerned that someone buying remotely in Alaska that is from out of state, doesn't really know what they are getting into. Off grid in Alaska, isn't exactly off grid in Arizona. That's a good question. I like that.
Jack Butala: Yes a great question. It's well worded. She's a good writer. Angela, I was really concerned about this when I started. Everybody's got their concerns when they start out. One of mine was, and I want to rephrase your question, does somebody get halfway through the payments, like say it's a ten year payment scheme, they get halfway through the payments in year five, and they want all their money back. That's when they decided to go look at the property. I can tell you from experience, it's never happened to us. The flip side is this though. If it did, we would work something out. Our unwritten policy about selling land, is that we always refund the property.
We always refund the property if they're not happy. The vast majority of what Jill and I do are wholesale deals. If somebody doesn't like it, I mean if it's five years from now and they just change their mind. That's never happened, but I would have a tough time with that. Problems usually arise out of buyers remorse.
Jill DeWit: Right.
Jack Butala: In that case we just re-do the whole thing and it's fine.
Jill DeWit: Uh-huh.
Jack Butala: Sometimes we charge maybe the 3% or 4% if they pay by credit card, just to recoup the actual cost. As far as refundable deposits go, I wouldn't even bring up the word. I would just say you're buying a piece of property Jill and here's the down payment and that's it.
Jill DeWit: I think the best thing you can do Angela, like what we do is disclose everything up front. What you put here too, the off grid in Alaska isn't exactly off grid in Arizona. They need to know that. That's going to save you too. The more that you're real clear.
Jack Butala: Yeah, use that sentence Jill, that's great. Just say that.
Jill DeWit: Yeah, I would totally put that in the posting. Hey, please I want to make sure you know Alaska, because man it's out there kind of thing. We're talking, you may not have cell service. You may need a satellite phone, whatever it is.
Jack Butala: It's amazing the amount of people that really want to get that lost. There's a lot of customers. People ask us all the time. Probably the top five questions that we get. Why the heck would anybody want to live way out t...