In This Issue:
While it is important to be the first to approach a homeowner in distress, it is also imperative that as an investor, you need to “approach” your clients and colleagues at least once a month too. Since you cannot go knocking on doors or calling contacts every 30 days, the best way to do that is via an e-newsletter.
After speaking with about 100 of our most successful clients, we are finding that the one common thread among them is that they strengthen relationships with their possible buyers (and gain referrals too) through an e-newsletter every month. A paper newsletter that has to be written, printed, and then sent (which includes paying for postage) can take a huge amount of time and be very costly. An e-newsletter takes away all of those concerns!
One of our California clients who has had been successful in this area for several years said, “it is my chance to reintroduce myself every month to possible clients, offer some new foreclosure news, and talk about my hot properties.” While he uses Constant Contact to send the e-newsletter, another very popular method is Vertical Response. These programs allow you to easily layout your e-newsletter, send it so that it does not land in junk mail folders, and track which articles are read. That is the easy part! Then, your monthly challenge will be to come up with compelling content in a concise and informative manner.
Our information this month should reach you in this e-newsletter and leave you a lot smarter in a short amount of time. The article on foreclosure laws in Illinois will help our friends in the Land of Lincoln know their region better and help our other clients around the country compare their foreclosure laws against the ones in Illinois. Get a few easy tips on how to sell a house, from curb appeal to the right lighting in the home.
Please take the time to read our newsletter and then start thinking about how your newsletter can be great news for you!
Affordable Improvements to Sell Your House
Despite recent improvements in the housing market, home sellers interested in selling quickly for the maximum dollar amount should consider making some small improvements to positively affect the bottom line and decrease time on the market. A home that appears well cared for with recent updates will stand out from the competition. Updates do not have to be a $50,000 newly renovated kitchen. Think small and spend your money wisely.
- Start with the outside by checking curb appeal. A house that looks well tended on the outside will draw buyers in!
- On the inside, start at the ceiling and work your way down. Repair or replace broken doorknobs, light switches, etc. If you cannot remember when a room was last painted, consider painting, being sure to choose a neutral color. If your furniture is old or mismatched, consider slipcovers and some new, inexpensive throw pillows. If you have dirty carpets, rent a rug cleaner and get busy cleaning the carpets. This is especially important if you have pets or rooms with high foot traffic because making your house look and smell its best will enable buyers to see themselves living there.
- Remove clutter and depersonalize because you do not want to distract your potential buyers with personal items. Since you are selling your house and moving, you might as well start packing up personal collections, photographs, and other items for your move to a new home. Packing now will make the stressful time of moving day a little easier by having most of your things ready to go into the moving truck.
- Turn on the lights! When your house is being shown, do not forget to turn on every light in the house, and open all blinds and curtains to make your home appear light-filled and inviting. Remember, you are selling space—make your entire home look as spacious as possible by placing your overflowing stored items from over-packed closets, basements, and sheds in a storage rental unit. Buyers will be impressed with how much storage space your house has if everything is not falling out of the closet as the door is opened.
There is really no need to break the bank to get your house sold quickly. A few well chosen updates as well as removing clutter by packing up personal items will work wonders in making your home appear more spacious and appealing to buyers.
Studies show people keep their attention on a given subject for about 15 seconds before their mind begins to wander. So…
Want an opportunity to reach the savvy and expanding Default Research client base? Remember — our clients, like you, are willing to invest in their business and spend money when they see a solid product like the Default Research leads.
If you care about promoting your business to our clients, then that should have gotten your attention in 15 seconds flat. Click here for more information.
Illinois Foreclosure Timeline
As we continue with our state foreclosure law series, this month we focus on Illinois. Illinois foreclosure law is judicial, meaning it is administered by the court.
Once a mortgage has been unpaid for 90 days, the lender sends the loan to an attorney to initiate foreclosure proceedings. The attorney will order a title search which determines who, in addition to the lender, may have a claim to the property. Any other lien-holders on the property will also be named as defendants in the foreclosure suit so that the property’s title will be clear when the sale takes place.
After the title search is complete, the attorney will file the official Foreclosure Complaint which is then served on the borrower. If the attorney was unable to find the borrower and any other defendants in order to serve them with the foreclosure suit, the suit will be published in the newspaper. The defendants then have 30 days to file an Answer in court.
Once a Judgment of Foreclosure has been entered in court, the 90 day redemption period must take place prior to the sale. After the redemption period ends, the notice of sale must be published in the county where the property is located once a week for three weeks. The sale date must occur seven days after the final notice of sale is published.
Finally, once the sale has taken place, the sale must be confirmed by the court. When that happens, the court gives possession of the property to the buyer. The homeowner then has 30 days to vacate the property.
What is the MOST IMPORTANT MOMENT in a real estate investor’s life? It is the 30 to 60 minutes you are with a potential seller trying to get them to sell at a 20% to 50% discount to their homes value!
“Imagine Being Able to Consistently Get Seller’s To Sell At A 20% to 50% Discount!”
Wonder if this is possible? It is if you are totally prepared and have a well- done professional presentation during that critical moment.