How do you qualify buyers? - Posted by Will

import · April 26, 1999, 7:14pm

Posted by Will on April 27, 1999 at 18:58:10:

Thanks Bill!

import · April 26, 1999, 7:14pm

Posted by Will on April 26, 1999 at 19:14:28:

Thanks for taking the time to read my post!

I`m currently developing my RE business strategy and would really like to hear from everyone on this question.Whether it be L/O, Flips, Wholesaling, Rehabs, etc. I am very interested in different methods of qualifying potential buyers.

How do you qualify buyers?

Thanks for taking the time to answer! Will

import · April 27, 1999, 10:13pm

Qualifying Lease/Purchasers - Posted by Sean

Posted by Sean on April 27, 1999 at 22:13:12:

If the person is buying on a lease-purchase you’re looking for the same things you would look for on leasing a place to the person. You want to know that they make three times the rent and they’ve never been evicted. Check with Unlawful Detainer Registry (or the equivalent) and check their income.

import · April 26, 1999, 10:25pm

Re: How do you qualify buyers? - Posted by Bill K. (AZ)

Posted by Bill K. (AZ) on April 26, 1999 at 22:25:54:

Will,

I have developed a close relationship with a mortgage broker. I let him qualify buyers for me. No matter which sales method I’m using, L/O, retail flip, etc., my broker lets me know if the potential buyer is qualified, or can qualify, in time, for a loan. He’ll also let me know what it takes to get a borderline credit risk qualified. Then, I can choose the best prospect based on his recommendation. I expect my buyer to work closely with my broker to get qualified in order to consummate the purchase.

Bottom Line: I qualify homes. My mortgage broker qualifies buyers.

I hope this helps.

Bill K. (AZ)