"Getting The Deed - How To Close The Deal At The Seller's Kitchen Table"
“Getting The Deed – How To Close The Deal At The Seller’s Kitchen Table”
By Marko Rubel
Many times sellers in foreclosure will put their head in the sand and then when it finally hits them they are about to lose their home, finally ask you for help. Should you pass on a deal that is 2 days from a foreclosure sale?
NO! These sellers are extremely motivated and are willing to give you a HUGE discount! But the problem is that you no closing company, title company or a closing attorney will escrow a transaction on a day notice. Therefore, you must know how to ‘get the deed’ yourself and get all the proper documents properly executed.
Knowing how to effectively and safely close yourself is a skill that will make you tons of money! And it is a “must have” expertise if you are planning on playing in the foreclosure arena.
Please understand that “kitchen table” closing is not as desirable as closing with a professional closing company or attorney. So, whenever time permits, you should use their services.
However, when there is no time, it can still be done if you follow this simple process.
1. Prepare all the documents needed for closing. It is important that you understand the laws that are in effect in your state that affect this type of transaction, if any. 2. Arrange a ‘Notary On Call’ to meet you at the sellers house. Make certain that ALL title holders are present! 3. Get all documents notarized that are required. The notary will request to see identification like a driver’s license of all persons signing. Pay attention to all disclosures that are required! 4. Voice record the closing – especially have seller read the disclosure loud. 5. Get the Title Search done BEFORE you put any money into the deal (not necessarily before getting the deed)!
If you know other investors, they will probably tell you that these deals are very risky and they shy away from pursuing them, and that’s fine with me. To me, being a real estate investor means having the knowledge and experience to manage risk.
If you follow my 5 points above, especially number 5, you will have the ability to get discounts from sellers that other investors just dream about.
Keep in mind, that you can perform the “kitchen table” closing anywhere. I have done it in a fast food restaurant, in Mail Boxes Etc., at a bank conference room, in the sellers’ houses, etc.
Again, as I mentioned before, the knowledge is power and get armed! If you are able and know how to close in a day or a few hours from the time seller first called you, you will get deals and cash on the profits that your competition can only dream about.
Marko Rubel is a prolific real estate investor living and working in the Phoenix, Arizona area. He is much in demand as a speaker on real estate topics, and also offers his own seminars and home study courses for investors. To find out more, visit www.ProfitGrabber.com.
About the Author
Marko Rubel knew just a few words of English when he arrived in the United States from Croatia in 1994 with a small suitcase, $3,000, and a huge desire to become wealthy. He soon realized that a job in Corporate America is not a synonym for the American Dream and financial security. When he discovered real estate investing, he recognized that he had found the way to transform his life into one of independence and happiness.
One of Marko’s first deals took about 10 hours of work over 30 days and netted him approximately $103,000—more than he made in a year at his job. He left Corporate America and never looked back. Today after several hundred of successful transactions, his real estate holdings are estimated to be in excess of $4 to $5 million.
Inspired by those who started with nothing and created enormous wealth, Marko has built his own fortune and is now helping others do the same. In the investors’ circles, he is known as the “detail-guy” due to his tremendous attention to details and sharing them with his students. Marko believes investing concepts are great but it is hard to make money without the practical details.
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