CONTACT

CONTACT WALTER

559 S. Washington Ave., Kankakee,IL 60901

P.815.929.9258 P.815.929.9200

walter@waltersanford.com

"Thank you so much for your spectacular presentation at our event last week! Your energy level and knowledge are what made it a very successful event for us!" Sue Woodard, CTX Mortgage

READ WHAT OTHERS SAY

Buyer Excuses Continue October 9th, 2009 | Posted in General Real Estate

This is an Email exchange between one of my coaching clients and myself.  My coaching client had a string of Emails from a client who was complaining .  This buyer has had every excuse of why not to buy.  This is the return email that I asked him to write to get him off the fence.  Maybe it will help you, too.

Question:

Hi Walter,  See the e-mails that I included. This guy keeps up with his negativity on the market. How do you think I should respond?

Thanks!

 

Answer:

Your buyer has every excuse in the world…as to be expected.  I see some mistakes on your part.  You do not remind him what the finish line looks like and you do not add any coals to build a fire under him.  Here is my response to him:
Joe,

I go to sleep at night, because I use my experience to energize my crystal ball.  Here are the facts so you can make a decision:
1.  You can make an offer subject to your “orders” coming in.  This puts us in line and gives us a chance to stay in the game if another offer comes in. 

2.  Remember when you told me you wanted ________________.  This property meets all of those requirements and more such as: _____________________.

3.  Replacement value on this property based on current construction costs is $_____________, which is pretty much a bottom on this property.

4.  If you miss the November tax credit date, you pay $8,000 more as it stands today.

5.  Your after-tax cost of owning is way less than the true cost.  You are not getting the benefits of owning until you own.

6.  The onslaught of additional foreclosures has been known about for a year.  There are private investors and investment pools ready to buy them when they hit.  Properties are less than replacement value and rents are higher than payments.  When this has happened in the past, we were at the bottom.

7.  Rates are going to go much higher in the future.  Lenders will not allow low rates when inflation comes roaring back.  Have you seen gold lately?

8.  Moving in the snow is really annoying.

9.  When markets turn, they turn quick.  Look where your payment goes if we recover 10% of the 40% drop in price and rates go to 7%.  Pigs get slaughtered.

10.  For these reasons, I am buying investment property for myself and my family.
If this is the home, my direction would be to make an offer today.

Leave a Reply



SUBSCRIBE/UNSUBSCRIBE

To subscribe or unsubscribe to/from our blog, please click here.

POSTS BY CATEGORIES


WANT TO KNOW MORE ABOUT WALTER?

Click on one of the links below to read more about Walter has to say about the real estate market.

Linked In