Posted by B.L.Renfrow on May 02, 2000 at 13:29:16:
Sure, you can renegotiate. Just tell them you took another look at the numbers and you feel another approach may be more beneficial for them (and for you)…which is true, because the sooner YOU get paid, the sooner THEIR problem goes away.
About the lender having a problem with unseasoned title: Well, that is another whole bag of worms. When you have some time, do an archive search for those topics here and read some of the posts about it. Depending on where you are located, it may or may not be a problem. It’s almost always an issue with subprime lenders, but not necessarily with a good-credit buyer. And rarely with note-buyers.
For your prospects today, just act like you do it all the time! If they ask questions which you can’t answer, just say, “Well, I am not sure right now, but I will find out for you.” The absolute worst-case scenario is that they are unqualified or won’t be interested, in which case you can chalk it up to a learning experience and you’ll be more confident next time around.
I’m sure you will do fine. If you have more questions, just post them here and someone will have ideas. That’s what the site is all about!