Realty Times - Short-Sale Pre-Foreclosure Investing

Realty Times - Short-Sale Pre-Foreclosure Investing: "Bent-Twyford: First, we don't want to be doing any sprucing. Remember, I'm trying to get the bank to take less than what's owed. We don't want anyone to be painting and sprucing and making it look any better. I want it to look as bad as possible. The gist of it is when we put a package together, we actually put together and prepare three offers. On the $200,000 house, again as an example, I know I'm going to offer $80,000. I may come back on my second offer and raise it to $92,000.
Then, with my third offer, I really want to try and buy this house so I offer $100,000. I'm going to raise my offer a couple times, so I'm leaving room to negotiate and appear flexible. I'm going to actually present three independent packages, each one from a different point of view. My first package is going to be all about the homeowner, their distress, what's happening in their lives, any disrepair their house might have and anything that might help build an emotional attachment between the bank rep and my homeowner. Then when they come back with a counter offer, I'm going to talk about the area, the market, all the things on the news, the bailout and all the bad things. Then when they come back and I go in for my final offer, I'm going to say this is my last offer and present to them a timeline that lays out how much money they are losing since the very first missed payment."

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