15 Questions To Ask Property Owners

Hi, this is Frank Chen with REIClub.com, your link to creative real estate. Today I’ve got a quick video covering some mandatory questions you should be asking your motivated seller leads…

One of the biggest fears for investors, is picking up the phone. Even after all the work they’ve done to get a motivated seller to call them, they are too scared to pick up the phone.

So the big question is, why?

My guess, not knowing what to ask… If that’s you, keep watching.

So the best thing you can do for yourself, especially if you’re not comfortable with talking to new people, is to have a list of standard questions that you ask everyone But just not any question, we need to ask the right questions that will help us make a decision and sound competent!

Although by no means comprehensive, I’ve prepared a list of 15 questions you can include in your motivated seller questionnaire. You’ll get more comfortable in time and decide to add some questions and omit some questions to fit your style.

When a seller calls you, it’s important to establish rapport first before asking any of the “tougher” questions.

  1. Ask for their name and property address and phone numbers.
  2. How long have you lived there?
  3. Do you like the neighborhood?
  4. How did you find us?
  5. Are you the owners on title? (need to know if you’re talking to the right person)
  6. What do you like most about your house?
  7. Do you know of any repairs that need to be done to make your house “like-new”?
  8. I would love to learn more about your home. Are you ok if I ask you some more questions about it?
  9. General Property Info – sq.ft, Bedrooms, Bathrooms? Parking? Garage conversions?
  10. May I ask why you are selling?
  11. Is there still a loan on the property?
  12. (If yes) Do you have an idea of what is left on the loan?
  13. What do they think the property is worth?
  14. Do you need cash up front? If they need cash upfront, ask why?
  15. Are you willing to take payments over time?

Of course, there is much more information to be gathered, but these basic questions can help determine if you have a motivated seller and some of the options that may be available to you for an acquisition strategy.

If you think this may be a deal, only then do you put in the time and research to familiarize yourself with the For Sale Values, Comps, Tax Roll Amount, Rent Values, the types of houses being sold, their conditions, almost like a realtor would.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.

We love your feedback and welcome your comments.
Please post below:

Are you sure you want
to log out?