Posted by Justin-IL on January 27, 2000 at 18:15:20:
No doubt man! I feel sorry for his clients; you know they’re getting ripped off too…
Not going with the Realtor…(update) - Posted by Justin-IL
Posted by Justin-IL on January 27, 2000 at 17:50:13:
For those of you following along:
The Realtor calls me this morning and left a message on my machine. He says that the mortgage broker couldn’t fund the buyers on a conventional loan (5% down). He said they’d have to go FHA.
I don’t think so.
I’m not even going to bother with these people anymore, they don’t even have 4K to put down on the house. And I definitely DO NOT want to bother with FHA standards. The house does need some updates. Plus the Realtor was shady about the commission thing.
I’m going to reject the offer, and keep marketing. I have a showing in 40 minutes–we have 3 people scheduled to show.
Back to the hustle…
Justin
Get your own Mortgage Broker - Posted by Bill K. - FL
Posted by Bill K. - FL on January 30, 2000 at 16:43:29:
Justin,
If you are planning on selling any more homes do yourself a favor and establish a relationship with a good lender who does FHa/Va ,conv, b and c credit loans. What I do is have my mtg broker qualify anyone interested in buying a property from me. If you have alot of Spanish speaking buyers find an office with at least one Spanish speaking loan officer in house. I don’t take anyones word about financing except the professionals I have had experience with. Also, selling FHA is no big deal and allows more people to qualify. Don’t worry what kind of loan they get just know what your net will be.
Re: Try a mortgage broker - Posted by Tim Jensen
Posted by Tim Jensen on January 27, 2000 at 21:30:17:
Justin,
I know someone that may be able to get some people financed. My brother, Malcolm has turned me on to him. Call me if you want his number.
Tim
Re: Not going with the Realtor…(update) - Posted by Paris
Posted by Paris on January 27, 2000 at 18:37:29:
Justin,
This is just a suggestion that has worked for me. When I am seeing one of my properties and trying to get retail, I target the most productive Realtor firm in my market. The agent with the most listings in a given area usually has their finger on the pulse of the area.
I have called the agent or agents directly and tell them I will pay 3% or what ever you negotiate, if they bring me a qulifyed buyer. Being a good busy agent, they will not waste their time on an unqualifyed buyer. IT has worked well for me.
Hope this helps.
BTW I am also a Realtor.
Paris
Re: Not going with the Realtor…(update) - Posted by phil fernandez
Posted by phil fernandez on January 27, 2000 at 18:08:40:
Justin,
A classic case of realtor throwing mud against the wall, hoping some of it will stick. The realtor brought you an unqualified buyer. He either doesn’t know how to do his job or doesn’t care how he does his job. And he wanted a 6% commission. LOL