Buyer Objections

Card Set Information

Author:
styles3000
ID:
182680
Filename:
Buyer Objections
Updated:
2012-11-09 14:02:01
Tags:
Buyer Objections
Folders:

Description:
These are the typical Objections you'll get from a buyer.
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user styles3000 on FreezingBlue Flashcards. What would you like to do?


  1. Why are
    you selling this deal if is so good?
    • That is an excellent
    • question. We wouldn’t be selling the home if we had more time to
    • work on the project. Right now we have a couple other projects going
    • on and can’t possibly take on another one right now so that is why
    • we are wholesaling it.


    • Other Reasons you
    • Could Use: Lack of capital or the house is far away. These can be
    • used depending on the property and the situation.
  2. What do
    you have the property under contract for?
    • If you have a small
    • spread you should answer the question. If you have a very large
    • spread you don’t necessarily want to answer the question nor do you
    • have to.


    • I got the property
    • at a pretty good price. I do know there is also plenty of profit left
    • in the deal for you and in fact some of the comps I can give to you
    • will blow you away. I estimate that if you turn this property you
    • could make _____X______. In fact, I am going to email you the comps
    • right now so you can look at them. What is your email address again?
  3. I do
    not want to give you ____x_____ for a deposit. That is too much.
    • I understand your
    • concern, however I won’t settle for less and that is because I have
    • a promise to the seller right now that I will close in ___X___ days
    • and I would never want to be in a spot where the buyer who is buying
    • it from me decides not to close. I am not suggesting this is you by
    • any means, however if you are serious about working with me and
    • buying this property you would do the same thing if you were in my
    • shoes.


    • What I really need
    • to know is that you are serious about buying investment property
    • because all other buyers we work with have never questioned the
    • deposit amount.
  4. Here is
    my low offer and that is the best I can do?
    • I appreciate you
    • submitting an offer, however I know that amount will not be
    • sufficient. In fact, it is much lower than what I know other people
    • will bring to the table so you will have to be more flexible on your
    • price and raise your offer. I assume this is something you have the
    • wherewithal to do…
  5. Retail
    Buyer:

    How can
    I buy a house through your company?
    • That is a great
    • question and frankly it is actually pretty easy and straightforward.
    • What we do is set up a time for you to speak with our mortgage broker
    • because every buyer needs to figure out what price range the
  6. Retail
    Buyer:
    I am
    just getting started in the home buying process.
    • I understand
    • completely and can appreciate the fact that you are just getting
    • started. Have you been pre-approved by a mortgage broker yet?


    • Great, are you
    • presently working with a Realtor or has a Realtor shown you any homes
    • yet?


    • What I will tell you
    • about our company is that we help you in a variety of different ways
    • depending on your needs. First, and foremost we consistently have
    • some of the best real estate deals in the area and so when you buy a
    • home through us you know you will be getting a deal as opposed to
    • paying market value or worse…paying above market value.


    • We also work with
    • you every step of the way from the mortgage process to the closing to
    • make sure that you have the best possible experience with our
    • company. In fact, many first time homebuyers who have bought homes
    • through us have also come back and bought multiple investment
    • properties as well. Our goal is to make you a client for life and
    • that has been our companies MO from day one.
  7. Retail
    Buyer:

    I am
    already working with a Realtor?
    • Excellent. I am glad
    • to hear that and something I believe is a very wise choice. Tell me
    • who is the Realtor you’re working with presently?


    • How many homes have
    • you looked at?


    • Excellent, and what
    • price range are you looking to buy in?


    • Great. Well, here is
    • how I can help you. What we do is buy a number of under market value
    • homes and then we work to match those homes up with buyers like you
    • who are looking to buy a property and get a good deal on it. What I
    • will do is just gather some basic information from you and that way I
    • can get a better feel for what type of property might be a good
    • match. Sound good?
  8. Retail
    Buyer:
    I am
    already working with a Mortgage Broker?
    • Excellent. I am glad
    • to hear that and something I believe is a very wise choice. Tell me
    • who is the mortgage broker you’re working with presently? Did you
    • shop around for mortgages or have you only talked to __________.


    • Excellent, and what
    • is the maximum that you qualify for to purchase right now?


    • Is that the price
    • range you are looking to buy in as well?


    • Great. Well, here is
    • how I can help you. What we do is buy a number of under market value
    • homes and then we work to match those homes up with buyers like you
    • who are looking to buy a property and get a good deal on it. What I
    • will do is just gather some basic information from you and that way I
    • can get a better feel for what type of property might be a good
    • match. Sound good?
  9. The
    house down the street is being offered for less?
    • Well, I don’t
    • doubt there are properties in this neighborhood selling for less and
    • properties that are selling for more. In real estate there are a lot
    • of factors that will determine the asking price of a property.


    • First, what property
    • are you referring too?


    • Well, what I do know
    • is that we looked at six other houses before we decided on the final
    • asking price which is considerably less than what we think we can get
    • for the property. Let me ask you this…besides the price is this
    • home something you can envision yourself living in?
  10. There
    is just one thing I don’t like about the property?
    • Well, that’s good
    • news because if it were 10 things I would be worried. Tell me, what
    • don’t you like about the property?


    • Okay…well let me
    • ask you this. If would change that one thing would you put in an
    • offer today?
  11. We are
    just looking?
    • I understand
    • completely and can appreciate the fact that you are shopping around.
    • What I will tell you about this property is that it is one of the few
    • in the area that is priced below market and as a result it will sell
    • very quickly. The reason is that a lot of the comparable properties
    • you might be looking at are priced at least 5 to 10% higher.


    • Let me ask you
    • this…is there something holding you back from buying at this
    • moment?
  12. I want
    to make a lower offer?
    • I understand and can
    • appreciate the fact that you are looking to buy a property that has
    • some equity. What I will tell you is that the house you are looking
    • at is already priced below market value. In fact, most of the houses
    • in this area are priced much higher. The reason I know this is
    • because the level of interest we have seen in this property. We have
    • had a tremendous number of calls and showings on the property which
    • indicates it was priced lower than market value.


    • You are of course
    • welcome to submit any offer you want, however if you truly want the
    • house I know that there may be offers that come in higher than yours.
  13. I want
    to see more homes.
    • I understand
    • completely and can appreciate the fact that you are shopping around.
    • What I will tell you about this property is that it is one of the few
    • in the area that is priced below market and as a result it will sell
    • very quickly. The reason is that a lot of the comparable properties
    • you might be looking at are priced at least 5 to 10% higher.


    • Let me ask you
    • this…is there something holding you back from buying at this
    • moment?
  14. The
    market is going to come down some more.
    • I understand
    • completely and can appreciate the fact that you are conservatively
    • looking to buy at the bottom of the market. What I will tell you is
    • that the market has stabilized in this area and we are pretty much at
    • the bottom of the market. I also assume that you are looking to get
    • the best possible deal on a property and that is why I think you
    • might want to really look at this house we have for sale.


    • This property is one
    • of the few in the area that is priced below market and as a result it
    • will sell very quickly. The reason is that a lot of the comparable
    • properties you might be looking at are priced at least 5 to 10%
    • higher.


    • Let me ask you
    • this…is there something holding you back from buying at this moment
    • besides the market?
  15. I would
    like to put less money down?
    • I understand as I
    • would say the same thing if I was in your shoes. We all would like to
    • put less down. What I will tell you is that in today’s lending
    • environment you will most likely not find a lender who is willing to
    • loan you more money than what you have already been quoted.


    • The great thing is
    • that your monthly payment will be significantly lower when you put
    • more money down. I would hate to see you lose this opportunity to buy
    • this property because of just a couple thousand dollar difference in
    • what you want to put down and what the bank is quoting you.
  16. I don’t
    want to write a check for such a large down payment?
    • I understand you
    • concern, however anyone selling a property expects a down payment. It
    • is normal for us to collect upwards of 5% down on the property. This
    • demonstrates your seriousness as we will be taking the property off
    • the market as you commence the closing.


    • We know you are very
    • serious, however we have had buyers in the past who were not and that
    • is why we require a larger down payment. We have no interest in your
    • deposit…we only have an interest in making sure that the
    • transaction gets closed. It is our company’s policy.
  17. I would
    like a longer inspection period?
    • I understand you
    • wanting longer, however we will taking the property off the market
    • for you so we expect things to move rather quickly. Most of the time
    • you can get an inspector out here to the property within two days so
    • 7 days should be more than adequate time for you to get an inspection
    • done.
  18. You
    bought this house for nothing and now you expect me to overpay?
    • We have put a
    • significant amount of money into this property in order to repair and
    • update this property. You are buying quality craftsmanship here. Let
    • me ask you this…can you see yourself in this property?
  19. Contractor:
    The
    repair cost is more than your estimate?
    • I understand your
    • concern, however every number we have down is based on a contractor
    • estimate we received. In fact, we would be happy to refer to you some
    • of our top contractors so you can get this job done in a timely
    • manner. These are guys we have worked with for years and they are
    • experts at what they do. They also give us wholesale pricing because
    • we are investors. If you treat them with respect they can be an asset
    • to your business for years to come.
  20. Contractor:
    I am
    not ready to tie up all of my capital on this deal.
    • I understand
    • completely as I am an investor myself. Don’t miss out on a deal
    • though because of a lack of capital. What I will do is get you in
    • touch with the hard money lender that we work with and they can get
    • you set up for funding for these types of projects. In fact, what
    • time tomorrow are you available so I can set up a conversation.

What would you like to do?

Home > Flashcards > Print Preview