Every Sunday, I answer my viewers’ questions about property and business. If you have a question for me, please leave a comment on this week’s video and I will do my absolute best to answer it next week. This week, I got a really good question from Robert about how to book viewings as a deal sourcer if you are asked for proof of funds or a mortgage in principle. This is happening more than it used to, so I thought it would be worth covering this question and my answer in a blog post.
Robert Lundie said…
Hi Samuel, I am an aspiring deal sourcer and have booked onto your deal selling masterclass. One question I have is I have found it tricky booking viewings, as I’ve had multiple agents ask for a mortgage in principle before they can book for a viewing. Is there any way around this? Many thanks, Robert
Robert Lundie, first thing I’m going to say is this: when you ring up to book a viewing they will always ask you is if you are buying mortgage or cash? They’ll always ask you what’s the purpose of the purchase? What they mean by that is residential or buy-to-let, namely are you going to live in it or is it an investment. They’ll always ask you for your address and your email so they can just fill out a form and put you on the system.
So, when they ask you those questions rather than thinking, “oh my gosh, um” and freaking out, just answer them. Just say it’s going to be investment purposes. If they ask about how you’re going to be financing it, you could say cash or mortgage whatever the answer is. If you’re going to be buying this property on behalf of somebody else, then answer it on behalf of them.
So just say, “my name is Robert Lundie. Yeah, I’ll be purchasing it with a mortgage, it’s all in place it’s all sorted” because you might not be buying it but the person that you’re looking for is. Also if you’ve got investors that you’re trying to source for, you can use the investors’ proof of funds and mortgage in principle to show the estate agent.
It’s definitely a popping market right now, so there’s a lot of people wanting to buy properties. Therefore, estate agents right now in 2021 might try and sometimes weed out the non-serious by asking some questions up front. Just be honest and tell them whether it’s cash or mortgage, tell them your situation. They don’t like deal sourcers because deal sourcers are mostly time wasters. Deal sourcers are often window shoppers that find a property and then can’t even sell it or aren’t actually working with any serious investors. Of course, for you Robert Lundie, that’s not going to be the case because you’re working with me on the training soon. So I hope that helps, if it doesn’t help ask another question or ask me a slightly different way. I look forward to working with you real soon!
If you would like to see all the questions and answers from this week’s video, please check out the full video here.