What do you do when the bank says, “NO”?

by neckontheline on September 17, 2009


Got a good question from yesterday’s post about how to get the seller’s to say, “Yes!”

What if the bank rejects your offer?

Here’s a secret I share with my students; resubmit a rejected offer at a later time.

Let’s say the bank rejected your offer and the property sits on the market for a few more weeks, what do you do? What do you think the bank is doing? The bank isn’t going to play those mind games like a traditional seller would, resubmit the same offer.

I bet the bank doesn’t even remember your previous offer. They’ll only see a legitimate offer for the property. Trust me they’ll react in a positive light, I’ve seen this strategy work successfully many times.

I’ll leave you with this: a confident mind leads to a confident deal. Belief in oneself accompanied with the correct mindset make for an unstoppable real estate investor.

See for yourself how I do this during the Extreme Real Estate Challenge. It begins Monday, September 28. Who knows where I’ll be and who I’ll be working with! For more details go to www.NeckOnTheLine.com

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{ 6 comments… read them below or add one }

Jason Rodriguez YES Its ME September 21, 2009 at 5:08 pm

I’m glad you like the tips I’m here working hard to give you the BEST. I’ve made the same offer 12 times and then they called me and said YES. 70% of your Business is follow up we will be showing great follow up systems during the challenge so keep watching and posting comments PS tell a friend. :) Jason Rodriguez

Sandy Womax September 18, 2009 at 4:43 pm

I didn’t realize you could do this.
Banks are very sophisticated and are expert in harassing the hapless customer .They are absolutely not prepared to listen to their customer’s version and keep harassing them until they are coerced to do exactly as they wish.

I hope i have some luck next time.

Barbara Hoffman September 18, 2009 at 4:39 pm

I didn’t know this was even possible. I get so stuck in thinking that its one way and i don’t even act as a result. Its so debilitating sometimes to go up against these intimidating institutions that seem to have less and less interest in protecting the consumer.

Adrian Simon September 18, 2009 at 4:27 pm

I have been hearing mostly no. This is good information.

chai September 17, 2009 at 2:27 pm

I had no idea that you could go back to the banks with the same offer, what a great insider tip! I am definitely facebooking this one!

Dennis September 17, 2009 at 11:12 am

You’re good! Thanks for answering my question. And I’ll definitely be following you on your challenge.

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