Posted by Brandi_TX on January 26, 2000 at 14:09:11:
Instead of going through the expense of setting up a merchant account to accept credit cards, why not just accept a credit card convenience check from your T/B.
Just be sure that they do not move in until those funds have cleared.
Just my opinion, but why not let THEM pay the fees for using their credit card, instead of you.
Take care,
Brandi_TX
Can I take a credit card for option money from a tenant. - Posted by Brian
Posted by Brian on January 26, 2000 at 13:46:27:
Are there any laws about taking credit cards for payments of the option portion of a lease/option transaction. I know this could be risky and would only do it in the right scenario but if it were legal I could get more money down and move more houses. Might be worth the fee to get set up to accept credit cards.
Brian
Re: Can I take a credit card for option money from a tenant. - Posted by Rich
Posted by Rich on January 26, 2000 at 22:29:50:
I.have.never.run.across.a.buyer.who.wanted.to.pay.with
credit.card…but.my.philosophy.is.never.let.them.
leave.if.they.are.ready.to.buy…If.you.think.it.will
seal.some.deals.,then.get.you.a.credit.card.machine.
You.will.pay.around.2%.in.the.form.of.transaction.fee.
but.its.guaranteed.that.you.will.get.your.money…not
like.a.check…Maybe.they.don’t.have.a.convenience.
check.on.them.and.they.go.home.to.get.one.and.on.the
way.home.they.see.a.m/h.that.they.like.better.and.they
never.come.back.to.yours.???It.has.happened.before
many.times.
Re: Can I take a credit card for option money from a tenant. - Posted by Judy
Posted by Judy on January 26, 2000 at 14:29:08:
Why don’t you just let them get the cash advance. No worries about check clearing.