Posted by domineaux on January 15, 2000 at 08:06:31:
Make sure your buyer has some type of clear document declaring that he is indeed buying your property and his payment date is stipulated, clearly.
Keep an accurate record of his payments. If he has paid you on a timely basis as agreed many lendors will take that under consideration, along with his keeping the same job during the period of payments.
They will be looking for stability and prompt payment. You need to keep a record wherein dates can be verified (third party is best), payment envelope with postage stamped date could be as good.
The lenders may not give him a A rating, but in the current market he could get financed, if he doesn’t have a bunch of other bad credit.
Your question was how to improve the buyer’s credit on an owner carry?