The Notice of Trustee’s Sale Prospecting Letters
…they’re not for every agent.
They’re only for agents who:
- Are willing to do the research to locate names of people who have just gotten a Notice of Trustee’s Sale.
- Have access to information telling you if the homeowner has enough equity to pay off the loan, pay all the related bank fees, and pay you a commission.
- Have a list of buyers who could and would close quickly to prevent a house from being lost to a trustee’s sale.
- Are willing to partner with a buyer’s agent who represents investors.
- Would enjoy some fast closings!
They’re also only for agents who take action quickly:
As you know, once the Notice of Trustee’s Sale is posted, the homeowner has as few as 20 days in which to redeem their mortgage loan. They can reinstate the mortgage up to within 5 days of the sale date.
But…If they could have done so on their own, they probably would have done it before they received that notice.
If they are to get anything back for their equity, they need someone who can act quickly to help them.
Yes, if the house goes to auction and the price goes beyond what is owed to the bank, they’ll receive the difference. But how often does that happen? In most cases the bank is the only bidder, and they bid exactly what’s owed. The homeowner gets zero.
It’s hard to understand why they let it get this far if they have equity to preserve, but some do.
- Maybe they just don’t know what to do.
- Maybe they’re hoping for a miracle that will make it all go away.
- Perhaps the house needs repairs they couldn’t afford to make, so they thought it couldn’t be sold.
The Notice of Trustee’s Sale Prospecting Letter set consists of 5 letters that offer hope.
Because time is of the essence, these should be sent either daily or every other day.
The price? Only $37 for all 5 letters.
It’s hard to say what is going on in those homeowner’s minds right now, but…
It’s probably something like:
- “if only we could have sold the house – we should have listened to the agent’s suggested price.”
- “Why didn’t we lower the price and get out before this happened?”
- “I hate this, but it’s too late to do anything about it now.”
- “I wonder how long we’ll have to move out after the sale.”
- “If they come to the door to evict us, how long will we have to get our belongings out?”
- “If only our friends and neighbors weren’t going to know about this. I feel humiliated by them knowing we couldn’t make our house payments.”
- “We’ll have a foreclosure on our credit reports. Will that make it impossible to buy another house?”
The best marketing / prospecting letters enter the conversation in the prospect’s mind – and that’s what these 5 Notice of Trustee’s Sale letters do.
Their basic message is that they CAN salvage some equity, avoid the stain of a foreclosure, and hold on to their dignity.
BUT – they need to act quickly.
** How can you find the names of people who have received a Notice of Trustee’s Sale?
“The Notice of Trustee‘s Sale is published in a newspaper local to the property being foreclosed, and it also is mailed to the borrowers of record and posted on the subject property.” Read more…
Start mailing even before the Notice of Trustee’s Sale appears…
Use our Notice of Default with Equity letters to reach homeowners well before they receive a Notice of Trustee’s Sale. Give yourself time to do some marketing and find the buyer who will offer the highest price.
Graphics courtesy of Stuart Miles at FreeDigitalPhotos.net