Earlier this week I did a post on Lease to own training - seller objections, today I want to look at Subject To Investing and seller objections.

Here is a common seller objection when it comes to subject to investing: "Why should I give you the deed and control of the property when I'm left on the hook for the mortgage?"

This is a legitimate question and one I would certainly be asking if the roles were reversed.  It demonstrates why it is so important to build rapport with the seller and make them feel comfortable with what you are suggesting (rapport is important whether you are doing subject to investing or lease options).  Remember, subject tos will not work with everyone. To answer this question you might want to offer references or testimonials from other sellers.  Here is an answer one of my students gives to their subject to sellers -

"I can understand your concern, and I would probably feel the same way if I were in your shoes.  All I can tell you is this:  The bank will not let me assume your mortgage, and in order for me to make a fair return on this deal, I can offer you$X.  I'll be glad to buy it right now at the price I've quoted, but then how would you cover the difference to pay off your current loan?  You are actually being very savvy and getting top dollar for the property by letting me take over your payments; we both save all the costs that we'd incur - commissions, closing costs, and so on - if I were to just buy it from you.  The minute you okay this paperwork, I kick into owner mode.  I will be doing everything possible to sell this house as quickly as I can, using my expertise.  I've spent thousands of dollars on training to do this business, legally and morally.  It would be futile for me to let this property go back to the bank just because I didn't make the payments."

Remember, when a seller raises an objection either in a lease option or subject to investing deal it means they are considering your offer.  Learn to love those objections!

Tags: Lease Option, Lease Options, lease to own investing, lease to own training, lease-to-own, Subject To Investing, Wendy Patton

This entry was posted on Thursday, July 9th, 2009 at 10:01 am and is filed under Subject To Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.