Re: Tenant/Buyer follow through on Lease/Purchase contract? - Posted by Bud Branstetter
Posted by Bud Branstetter on April 30, 1999 at 11:39:50:
The question would have to be broken down into catagories. Below 60K, 60-80K 100-150K 150K and above. Also how much down-less than 3%, 3-5%, more than 5%. actual cash- less than 3K, 3-6K, 6-10K, more than 10K.
Whether you run the tenant by the mortage broker and know what it will take to get him qualified or whether you just put them in there because he has some cash and promises to pay each month.
So the rule become the more money you get and the more qualified they are the more likely they are to carry through. But then if I have a bunch of their money and the back end by that consideration is small, what do I care if I have to collect more from the next tenant.