Seller Call Film Room | The Seller Lied To Me?

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Transcript

Why Great Prices Hide Problems

Live Call Starts With 160

SPEAKER_00 0:03

Welcome back to Stellar Call Film Room. And today we're going to be talking about that seller bucket that no one wants to admit exists. The laydown bucket, right? You ask the seller, hey, what's your asking price? And they give you an unbelievably great price. And you say, Well, tell me a little bit about what you got going on. And then suddenly things aren't adding up, but the price is fantastic. And so we just we want to send the contract. We don't want to come to grips with reality that this might not be real. It might not be legitimate. So today we're talking about the seller bucket of right price, no motivation. It's the most rare seller bucket. It's the seller bucket where something isn't right. Maybe it's a scam. Maybe it's fake. Or maybe they're just withholding some information hoping that they can back you into a court. I don't know. I don't know how to put myself in the shoes of someone that would do what you're about to see on this seller call. It doesn't make sense to me. I would never have the conversation the way that the start has. But what you're going to see is the fact that the reality, the real thing that is taking place here, comes to fruition through asking questions. Not me saying, well, how much do you want for it? 160. Tell me what you got going on. I don't know what you want to know. I mean, you know, it needs some carpet and some remodeling. And then just in the contract. By asking questions, we actually get down to where we find out that 160 is nowhere near the price that the seller's asking. That's just the number that the seller happened to say that he wanted to walk away with. That was it. But there's so many people out there that would have just set the contract for$160,000 and gotten their heart broken once they found out that there's$300,000 owed on the property. He's not wanting$160,000, he's wanting$460. That completely ruins the deal. But the only way that we find that out is by asking questions. And this happens time and time again because, yes, sometimes we will call a seller and we will say, what is your asking price? And they will give us a fantastic price. But if you do not know the reason why they are selling the property for a discount, if you do not understand the problem that they're trying to solve, why they would be motivated enough to sell that property at that steep enough of a discount, then you are not doing your job and you are going to end up heartbroken on multiple deals just like this one. So enjoy this live seller call. Let me know have you had a seller call go this way and you found out later on that it wasn't a legitimate deal? Let me know in the comments. See you guys tomorrow. Hey, is Michael there? Hello? Is Michael there?

SPEAKER_01 3:39

Yeah.

SPEAKER_00 3:40

Hey Michael, this is RJ Bates calling about your property on Longleaf. Uh, you you had entered it on my website saying that you're looking to sell that property. You still looking to sell?

SPEAKER_01 3:51

Yes.

SPEAKER_00 3:52

Awesome. How much are you looking to get for it?

SPEAKER_01 3:57

160.

SPEAKER_00 3:59

160. All right. Well, tell me a little bit about what's going on with the property.

SPEAKER_01 4:05

Well, I'm trying to find it out myself. I was admitted to property in a little bit. Um property shift, which is uh excuse me, I'm table. I'm tired of running all day. Um rather hard time talking. Um the house was built in 2001. Still has the original carpeting in it. So that definitely needs strong needs to be changed. Um the house itself is sound uh interesting. What you would want to know.

SPEAKER_00 4:52

Well, um, I mean, is it a house that you lived in? Was it did it have tenants in it, or is it vacant now, or were what obviously you said you hadn't been there for a while, so I I I lived here. Gotcha.

SPEAKER_01 5:06

And I had uh I had a tenant, and then we had uh excuse I was uh kicked off my own property, so I was also couldn't come to my house for for a while, so she had it by herself, so gotcha.

SPEAKER_00 5:22

So she moved out, so but she's gone now.

SPEAKER_01 5:25

I finally got the finally got the order dropped, so I'm I'm just getting back in the house actually today. See what's going on.

SPEAKER_00 5:33

Um does it have a pool?

SPEAKER_01 5:37

It has a pool. Electricity's not on now, but the pump works fine. I bought it a couple years ago with the new one.

SPEAKER_00 5:45

Gotcha. Well, ideally, like, I mean, because you came to us and you know it sounds like you want to you want to sell the property, right? What would be like your ideal situation? Like if you said, hey, RJ, if you do this, I'm happy.

SPEAKER_01 6:02

If you do 160, I'm happy.

SPEAKER_00 6:04

Okay. If I send you a contract for 160,000, would you sign it today?

SPEAKER_01 6:18

Well, I gotta I gotta get uh quick claim deed from my my wife that I gotta file.

SPEAKER_00 6:26

Okay. Well, we can help you with that process. If you sign the contract with us, we can open up title and they can help you with that process.

SPEAKER_01 6:38

I just gotta pick it up. She signed it. Okay, she already did. Yeah, I didn't really want to talk to anyone so I could actually make a decision on the house because she was holding things up when I sold this house months ago.

SPEAKER_00 6:52

Well, you can still sign the contract with me. I mean, it's not like we're closing now. We're gonna close in like, you know, two, three weeks from now.

SPEAKER_01 7:02

Well, I have uh I don't think you have the foreclosure on the 17th, right?

SPEAKER_00 7:08

So in six days you have a foreclosure?

SPEAKER_01 7:12

From uh from the homeowners association, yes.

SPEAKER_00 7:15

How much do you owe the HOA?

SPEAKER_01 7:18

That's uh somewhere around 24, but I think it's more like 26 after I can find the number for you.

SPEAKER_00 7:26

Oh man. Okay, well then we gotta like we gotta giddy up because two of those days are gonna be the weekend. Um shit.

SPEAKER_01 7:38

Um move a lot of shit out of here, too.

SPEAKER_00 7:41

Well, I'm not worried about you moving this stuff out, I'm worried about you not losing the property to a damn HOA. I mean, an HOA is gonna make a killing on this. I mean, Jesus, they're gonna come in and foreclose over a couple of 20 grand. Uh, do you owe anything else?

unknown 8:03

What's that?

SPEAKER_00 8:04

Do you owe anything else on it?

SPEAKER_01 8:07

Yeah, so I still have a deed on the house.

SPEAKER_00 8:10

A mortgage?

SPEAKER_01 8:11

Mortgage, yes.

SPEAKER_00 8:12

How much do you owe on that?

SPEAKER_01 8:15

That's uh 221.

SPEAKER_00 8:19

Okay, but I thought you said you wanted 160.

SPEAKER_01 8:23

What's that?

SPEAKER_00 8:24

I thought you said you wanted 160.

SPEAKER_01 8:27

I was talking about 160 cash and I walk away and you deserve me.

SPEAKER_00 8:32

Oh, so I gotta take care of everything else. So, okay.

SPEAKER_01 8:38

Okay, yeah, I guess there's a miscommunication error. Okay, so you miss out for 160.

SPEAKER_00 8:44

Okay, so I need to know everything that I'm paying for. So you said there's 220 to the mortgage. Is that correct? Yes, and then you said like 25,000 to the HOA?

SPEAKER_01 9:09

Yeah.

SPEAKER_00 9:10

And then you want 160,000 to you. So three, so like 405 is what you need.

SPEAKER_01 9:20

I probably need more than that because I got a second mortgage.

SPEAKER_00 9:24

Okay, how much is the second mortgage?

SPEAKER_01 9:28

55.

Lessons On Due Diligence

SPEAKER_00 9:29

55, okay. So we need like 460. Okay, now this has become uh a much grimmer story here. Um so the other person at one fifty-five, did they know that they're paying off another three hundred thousand dollars? And they know about the foreclosure next week. Oh, yeah, yeah.