Bill Bronchick

Scripting Common Objections from Foreclosure Sellers
by Bill Bronchick

Foreclosure lists are a great resource for finding motivated sellers, but the competition for these deals is substantial. People in foreclosure are inundated with mailers and calls, so the investor who can answer the seller's questions and make him feel good will likely get the seller's trust and ultimately the deal.

Every investor needs a script, that is, a pre-defined set of words to respond to a seller's common objections. All good sales people work from scripts, and everyone has a script already in their head. Remember, a script is nothing other than a predefined set of words in response to a question or situation. So, if you don't refine your script, the default one in your head will take over, and often lead to saying the wrong things!

Here are some of the things from our script I teach :

Objection: Another Investor Said That They Would Give Us $5,000.00

Counter Objection: "Really? I'd take that offer in a heartbeat if I were you! But, here's the thing... based on my experience, I'm not sure how another investor can promise you $5,000.00 if they haven't spoken with the bank and haven't received a commitment letter from your lender yet, so that tells me that this other investor may be just telling you what you want to hear. Is that possible, Mr. Seller? Here's a tip, Mr. Seller - ask the other investor to sign a $5,000 promissory note for the money, due at closing. If he won't sign the promissory note, then you will be able to know how trustworthy he is, does this make sense? I can't promise you any money right now because I honestly don't know what I can work out on this until we meet, review your details and I speak with your lender. Regardless of whether or not you'd want to work with us, do you think you should be working with someone who will be honest with you and not 'sugarcoat' it? Are you with me?"

Objection: I Want To Be Able To Stay In The House

Counter Objection: "I understand you don't want to move, it's a very difficult thing. Unfortunately, if we purchase the house, we can't rent the house back to you and I would be careful of an investor that says they will do that because there have been some shady practices where that's concerned. The good news is that virtually every seller we've worked with is actually really relieved when they get out from under the house. For the amount of mortgage payments you are making each month, you can practically rent a palace for that! It is such a renters market, that I think you'll be really pleased to see the great houses/condos available to you at a fraction of what you're paying now. I can give you a website where you can find great rentals in your area at a price you can afford. The bottom line is that I think you'll feel a lot better just putting this whole situation behind you and getting a fresh start in another home. Does this make sense?"

Objection: I Have A Friend Who Is a Realtor Who May Help Me

Counter Objection: "Basically most realtors don't do short sales which can be a real detriment to you and the most importantly the realtor has to wait until an offer comes in to submit to the lender, (if that offer comes in) whereas we put the offer in immediately and start negotiating with your lender right away".

Objection: How Can I Trust You?

Counter Objection: "You are smart to be skeptical, Mr. Seller, and I would be if someone I didn't know was knocking on my door or calling me on the phone. Unfortunately, nothing is 100% guaranteed and, but I can tell you that I've worked with (dozens/hundreds) of people just like you who are really glad that they had someone like me to work on their situation. The bottom line is you are going to have to ultimately choose someone who you can trust, right? You don't have many options right now; if you don't trust someone, your house will go into foreclosure and there won't be any option left. So, let's just go with the assumption for now that you trust me, and I trust you, then we'll go forward, does this sound good?"

Bill Bronchick
William Bronchick, CEO of Legalwiz Publications, is a Nationally-known attorney, author, entrepreneur and speaker. Mr. Bronchick has been practicing law and real estate since 1990, having been involved in over 600 transactions. He has appeared as a guest on numerous radio and television talk shows including CNBC Power Lunch. He has been featured in Who's Who in American Business, Money Magazine, the Los Angeles Times and the Denver Business Journal. William Bronchick has served as President of the Colorado Association of Real Estate Investors since 1996.

Bill Bronchick Products (9)
CoursesHow to Create a Bulletproof Corporation
CoursesHow to Create Your Own LLC and Family Limited Partnership
CoursesStep by Step Guide to Land Trusts
CoursesUltimate Guide to Buy and Hold
CoursesUltimate Guide to Fix and Flip
CoursesUltimate Guide to Owner Financing
CoursesUltimate Guide to Wholesaling
SpecialsWealth Protection Library
CoursesWealth Protection Strategies

Copyright Notice
Copyright 2002-2020 All Rights Reserved. Published with Permission of Author. No part of this publication may be copied or reprinted
without the express written permission of the Author and/or

Back to Top

Free Newsletter

Article Options
Printer Friendly Page
Send This to Friend

Author's Articles
10 Easy Tips for Finding Investment Properties
10 Inexpensive Ways to Spruce Up Your Rental or Rehab Property
60 Days To Your First Bargain Purchase
7 Real Estate Contract Buyer Clauses Checklist
7 Reasons to Use a Land Trust
7 Ways To Buy Foreclosure Property
9 Goal Setting Tips For Real Estate Investors
9 Mistakes New Real Estate Investors Make
A Review of the National Consumer Law Center
All About Property Disclosures
Apartment Investing - Investors Now Is the Perfect Time!
Are Real Estate Seminars Worth the Money?
Are You a Newbie at a Real Estate Club?
Are You Clear On What is a Good Deal
Are You Waiting on the Sidelines?
Bankruptcy, Foreclosure, & Credit - How it Affects You
Bankruptcy, Foreclosure, & Credit - Part II
Basics of the Real Estate Contract
Be a Smart Investor... Do the Math
Big Brother Is Watching You, New (Bad) Legislation Coming Your Way
Bubble, Schmubble - Flipping Works in Any Market
Bull vs. Bubble
Bulletproof Your Wealth with Family Limited Partnerships and LLC's
Buy A House - Get Thrown in Jail?
Buying at the Foreclosure Auction
Collecting Money Owed by a Tenant
Common Investor Legal Mistakes
Common Sense Mortgage Tips
Contents of a Good Short Sale Package
Contract for Deed
Create Monthly Cash Flow Without Any of Your Own Money or Credit
Dealing with Real Estate Agents
Dealing with the Dealer Issue
Dealing With the Due on Sale Clause - Part II
Do You Need a License to Flip Real Estate?
Equity Sharing & Partnerships
Essential Contract Clauses
Essential Contract Clauses II
Explaining Foreclosure Options to the Homeowner
Five Big Mistakes Newbies Make
Flipping Properties for Cash Profit
Flipping Versus Holding - Which is Better?
Get That Property Out of Your Name!
Getting Started as a Real Estate Entrepreneur
How Much Cash Should an Investor Keep in Reserve?
How to Create a Real Estate Cash Cow
How to Determine Property Values in Today's Market
How to Get a Hard Money Loan
How to Save Up to 90% on Title Insurance
HUD Properties, FHA & Title Seasoning
Illegal Flipping and Lender Seasoning
Investing in a Changing Market
Investing Outside of Your Local Area
Investing Strategy - Master Lease Option for Apartments
Keep a Positive Perspective in a Negative Market
Know Your Real Estate Laws
Learn the Landlord-Tenant Rules!
Lease Option a Junker!
Lease Option Tips & Strategies
Lease/Option 101
Lease/Option vs. Contract for Deed
Lease/Options & the Equitable Interest
Mortgage Broker vs. Mortgage Banker
Non-Income Verification Loans
Owner Financing Mechanics
Personal Property Trusts
Real Estate Investing Financing 101
Real Estate Investing is Just Like Weight Loss
Reduce Taxes By Investing In Real Estate
Risks of Buying Real Estate in Emerging Markets Out of State
Scripting Common Objections from Foreclosure Sellers
Setting Your Financial Goals
Seven Ways to Flip a Property
Should the Government Bail Out People in Foreclosure?
Should You Disclose on Short Sale Flips?
Should You Do Real Estate Full-Time?
Should You Use an Attorney's Fee Clause?
Tax Issues on a Subject 2 Deal
Tax Lien Investing 101
Ten Myths Preventing People from Succeeding in Real Estate Investing
The Basics of "Short Sales"
The Bona Fide Purchaser
The Ethical Real Estate Investor
The Forgotten Owner Carry
The Mortgage Elimination
The New Limited Liability Company
The Not-So-Handy Man's Guide to Fixing and Flipping Properties
The Property Recording System
The Role of Insurance in Asset Protection Planning
The Wrong Way to Invest in Real Estate
There is No Due on Sale Jail
Top Ten Ways to Get Sued - Guaranteed!
Understanding Loan Terms
Understanding The Mortgage Loan Market
Using A Home Equity Line Of Credit To Buy Properties
Using a LLC IRA for Real Estate Investing
Using Facebook as a Real Estate Investor
Using Trusts for Personal & Business Privacy
What Every Landlord Should Know About Discrimination
What to Do if a Tenant Abandons the Property
What You Need to Ask Before Joining a Coaching Program
Where to Incorporate: The Answer May Surprise You!
You Have to Sell a House to Get it Sold
Zero In On Motivated Sellers

Author's Products

How to Create a Bulletproof Corporation

How to Create Your Own LLC and Family Limited Partnership

Step by Step Guide to Land Trusts

Ultimate Guide to Buy and Hold

Ultimate Guide to Fix and Flip

Ultimate Guide to Owner Financing

Ultimate Guide to Wholesaling

Wealth Protection Library

Wealth Protection Strategies