how to qualify buyers - Posted by Sonia (ID)

Posted by Steve-WA on August 04, 2003 at 14:25:50:

You need to do a prescreening - ask those kinds of questions - some obvious, some not so - that will tell you if this is a bullshi++er or a serious potential buyer.

“Do you want credit, or are you interested in a cash purchase?”

“You will need money for rent and deposit on your space, insurance, and a downpayment. How much do you have set aside for these costs?”

“Where do you work? Your spouse/partner/bf/gf? What is your approximate take-home every month?”

“How’s your credit? (often they will say, “Bad.”) As a result of what?”

“Ever been evicted? What’s the circumstances?”

“Will anything show up in a criminal background check?”

“Your application will cost $xx to process - when can you meet me with the money and fill out the app?” Sometimes, you can simply refer them to the PM for this part. Sometimes, they say they don’t have money for an app. That’s a good indicator that they are a bs’er.
I use an agency that does it all for $35 - their $35. I share that info with the PM, but easier is if the PM does it and shares the info with me. It just depends on who meets the person first.

how to qualify buyers - Posted by Sonia (ID)

Posted by Sonia (ID) on August 04, 2003 at 13:57:45:

Okay, I’ve read DOW (several times now) and have some questions about qualifying buyers:

When they first call, what do you do to eliminate the ones you don’t want to deal with? At what point in the process do you start calling references and doing a credit check? How does one actually do a credit check? I looked in the phone book under ‘credit reports’ and found a company called ‘Landlords Ink’ – is that the kind of service to use, or can I go more direct?