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What are the pros and cons of buying mortgage and tax overage lists?
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Pros: Time-saving and access to potentially profitable information. Cons: Cost and the potential for inaccuracies in purchased lists.
Why is it necessary to conduct a title recheck during the surplus funds recovery process?
To ensure there are no additional hidden debts that could affect the surplus funds recovery amount.
What ethical consideration must be observed when dealing with claimants already working with other professionals?
Not poaching claimants already working with other professionals to ensure ethical dealings.
What are the initial steps required to access training materials at Surplus Funds Riches?
Visit surplusfundsriches.net, go to the 'Products' tab, sign in with your name and email, and read the 'Insiders Guide'.
Why is re-polling skip tracing information important after foreclosure?
To ensure the information is current and accurate, which is essential for successful contact and claimant verification.
What is the significance of handling deceased owners in surplus funds recovery?
Special considerations like Joint Tenants with Rights of Survivorship (JTWRS) and probate are important to determine rightful claimants.
What are the key contents of a tight buyout contract in surplus funds deals?
The contract should include the name, signature, notary, and the percentage of the upfront money based on the gross amount.
Name some recommended tools for skip tracing claimants.
IDI Data, TLO, Microbilt, and White Pages Premium.
How should you address situations where you receive return mail with forwarding address information?
Interpret the forwarding address information to update your database and attempt to contact the claimant using the new address.
What tactic can prompt a claimant to take action during negotiations?
Using a 'takeaway close' technique, which leverages the fear of loss to prompt immediate action.
Why is it important to research debt and ownership at the time of a sale when dealing with surplus funds?
Because debts have priority claims to overages, which can affect the amount of surplus funds the claimant is entitled to.
How can using attorneys enhance credibility during surplus funds recovery processes?
Attorneys can provide legal assurance to claimants, adding to the trust and legitimacy of the interaction.
What upfront payment strategy can build trust with claimants in surplus funds negotiations?
Offering a 10% upfront payment of the gross amount as a good faith deposit can build trust with claimants.
What is the advised method for contacting claimants effectively?
Use transparent and effective mailing methods like postcards, follow a rotation schedule, and use structured buyouts to overcome disbelief.
What is the importance of using local mobile notaries in surplus funds cases?
Mobile notaries are crucial for getting documents signed and notarized conveniently and efficiently in various locations.
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