When you have entered the world of real estate investment, either as a full or part time job or opportunity, it is important to have a series of pre foreclosure scripts. Telephone talk outlines and checklists are essential both when you are talking to the homeowner as well as when you are talking to the bank or lender and discussing or negotiating a short sale. These pre foreclosure scripts, telephone talk outlines or checklists should be developed well in advance and reviewed to ensure that you have included everything that you need to cover in the phone conversation.
Nothing will irritate either a homeowner or a lender more than having repeated calls from the same investor to keep filling in information missed when there are no pre foreclosure scripts. Telephone talk outlines can be found on the internet or in investment courses, however they can also be developed with a bit of thought and consideration.
To develop your own personalized pre foreclosure scripts, telephone talk outlines or phone checklists consider the following key elements:
• Include a space for the property physical address and location, the name of the current homeowner and the name of the lending company
• Keep a space or blank line where you can write in the loan or foreclosure officers name and direct line phone number. This will help you be able to call them back and address them by name during the conversation.
• Provide a short two to three sentence blurb about yourself and your experience as an investor. Banks and lenders do want to know who they are dealing with and what their current level of knowledge is about the process.
• If you have dealt with a loans officer from the particular lender before, be sure to mention this in your introduction or script. A great idea is to leave blanks in the script, print it out and fill in the blanks with the relevant information before and during the call.
• Provide the information that you may already have on the home including the owners hardship situation, the property’s market value and the price at which you are willing to start negotiations.
• Include a list of questions you may wish to address directly to the lender regarding the short sale process or the documentation required to start the short sale.
Practice your pre foreclosure scripts, telephone talk outlines and checklists to make sure they sound natural and not like you are reading off a page. Keep in mind that you need to be flexible and respond to the person on the other end of the line, not just follow along with the script if they are asking questions or providing further information.