Foreclosure to sell question - Posted by Glenn Thomas

Posted by chris on January 22, 2000 at 02:06:41:

Hi Glenn-

What are you willing to do for your buyers? Will you assist financing of the sale? Will they be paying in full with outside financing? Are you only interested in a sale, or will you consider lease optioning to them?

If you are financing them ask how much they can pay per month and what they can put down are two things you need to know. If you are helping with any financing at all you need to speak with their previous landlord(s) and view their credit report to check their payment history.

If they are paying with outside financing see if they have been preapproved by a lender and for how much. If you have a good mortgage broker that you work with talk to him about setting up the folks who call you who need to be qualified. He can give you an idea of what they can and cannot qualify for. Make sure they will be able to handle the payments.

These are some of the things that come to mind for now. I’m sure others will be along soon.

-Chris

Foreclosure to sell question - Posted by Glenn Thomas

Posted by Glenn Thomas on January 21, 2000 at 23:36:42:

When i start to receive phone calls from prospective buyers on a rehabed house, what are some good questions to “pre-qualify” the callers?
thanks
glenn

Re: Foreclosure to sell question - Posted by chris

Posted by chris on January 22, 2000 at 04:49:20:

Glenn- One last thing. Check out this article:

-Chris

Re: Foreclosure to sell question - Posted by chris

Posted by chris on January 22, 2000 at 02:10:22:

Glenn-

I saw your subject header stating about the foreclosure. Are the payments behind now and the property is going into foreclosure or is the property a REO? Just curious, it will help others when they answer.

-Thanks, Chris