How can I help buyers who have $20,000 cash for down payment - Posted by TKynett

Posted by DanM(OR) on May 17, 2000 at 14:06:01:

and want. Ask them a bunch of questions:

What kind of house they are looking for?
What area?
How much a month they can afford?
How’s their credit?
Etc.

Then go out and find them what they want and get it under contract. Flip it to them retail or lease option depending upon their credit.

Best of luck to you!

Dan Matejsek

P.S. I’d move quick before someone else finds them what they need.

How can I help buyers who have $20,000 cash for down payment - Posted by TKynett

Posted by TKynett on May 17, 2000 at 13:24:49:

Hi everybody,

I got a call from one of my I buy homes ads and it was a potential buyer who said he had 20,000 for a down payment.

Should I call a mortgage broker and see what they can qualify for then tell them to go look around?

What would you do first if you got this call?

Todd Kynett

Re: How can I help buyers who have $20,000 cash for down payment - Posted by Bill (OH)

Posted by Bill (OH) on May 18, 2000 at 08:14:33:

As a realtor, I get these calls from time to time. My first question is ‘where is the money?’ Hopefully it is in a bank—and my next question is ‘can you help me verify that the funds exist’. If they have 20,000 in the bank and that can be verified–I can find them a REO owned by a desperate bank willing to make a deal with no problem. Heck, I can usually find a listed property with a desperate seller willing to do the same. Besides, if they have that much cash—what’s so wrong with their credit?