Pulling Credit Reports for Buyer Prospects? - Posted by Ron

Posted by PatrickMD on April 24, 2000 at 09:18:22:

Hi, Tom. Could you please forward information on how to contact your company about interpreting the qualification of a prospect from the credit report and to discuss ideas on how to make the deal work for both the buyer and the investor? Thanks. Pat Page.

Pulling Credit Reports for Buyer Prospects? - Posted by Ron

Posted by Ron on April 17, 2000 at 20:19:14:

I’ve resolved to not show my rehabs to prospects who have not been pre-qualified. I thought buyers would resist giving me the info before they could even look at a house, but it hasn’t been a problem.

I want to “strike while the iron is hot” when interested prospects call. This means quickly checking them out (the same day, if possible), so I can get them into one of my remodeled homes. Unfortunately, I’ve been relying on lenders to pull credit reports and the buyer and I are left waiting for them to get back.

I’m thinking I should pull the credit report myself. It would cost several dollars, but it would be more or less immediate. The non-monetary downside is that I’m not a lender and I’m much less authoritative in interpreting the qualification of a prospect from the credit report.

What do you do? I continue to struggle to find a great lender that lives up to my high expectations.

Thanks.

Ron Guy

Re: Pulling Credit Reports for Buyer Prospects? - Posted by Tom-Pa

Posted by Tom-Pa on April 17, 2000 at 20:47:41:

First, I’m a mortgage broker. I also invest, and I’m on the board of directors for our local real estate investment group. One of the services I offer the investors that do business with me is a just what your talking about. I also offer ideas on how to make the deal work for both the buyer and the investor.

If you belong to a local investment group, you could find brokers that would offer this service to you just to get your business. Good Luck. Tom