subject: Fort Lauderdale Foreclosures Tips: Contacting The Owner [print this page] With the number of foreclosures sweeping the market listings across the country by storm, its no wonder that more and more people either from the country or around the globe are banking in some of the most affordable properties currently in the market today. But even though they are affordable, they are certainly not without risks. These homes, including Fort Lauderdale foreclosures, are laden with problems. From pests and damages to neglect and squatters, being a foreclosure investor is something not for everyone. And in addition to those, investors still have to take extra measures when contacting the homeowner. Here are helpful ways to this correctly.
Why take extra care?
Its not merely enough to be a savvy and cunning Fort Lauderdale foreclosures investor; you have to show some heart when buying these properties, especially if they are still under pre-foreclosures. Even if the seller do decides to sell the property, the feeling of losing their property to foreclosure can be disheartening and an extremely emotional process for them.
Contacting and meeting the owner
There are several ways to contact Fort Lauderdale foreclosures owners correctly. The best way is to send a letter days or weeks before you intend to visit the property. Indicate in the letter your interest in the property as well as your intention to purchase it. But dont just say it like that, too. An effective letter is one that is introduced by a compassionate note. Try to tell the owner that your intention is to help them through the process by buying the property.
You're lucky if the owner responds immediately; otherwise you have to wait a little longer and send follow-up letters or ask your agent to phone in. Once you get them to arrange a meeting and discuss a possible sale, grab this opportunity to get a better look at the house. Appear as an eager buyer but not a foreclosure vulture. You may find the property in good condition but always prepare yourself for the worst.
In addition, unless you're experienced in handling distressed homeowners, dont approach them in person. Ask your agent to be the official mediator and show up only once the meeting date is set.
Observe and calculate later
Once you're done visiting Fort Lauderdale foreclosures, check for superficial damages and reserve structural defects for later when you hire a home inspector. You may have to buy the property as is, so prepare yourself for the costs. Estimate the repair costs as much as possible before giving a purchase offer.
