Hello all,
My wife and I are trying to sell our house ourselves, I have 1 question hopefully some of you can help me out with.
What steps to take?
What information do I need?
Wold requiring this push potential buyers away?
Thanks in advance for your responses.
Build a relationship with a mortgage consulant. Just let the potential buyer know that you work with a professional in the mortgage industry and you would prefer that they check with them, even if it’s only for a 2nd opinion.
one thing you can require from your potential buyers is a pre qualification certificate from their mortgage company, and if they dont supply you with one you can always check references yourself as if you were a landlord, i.e rental history and employment history. those 2 things will be the second banana to a credit score anyhow and will give you a good idea as to how their credit will be (most of the time). if they are reluctant to furnish this, it most likely means that they know they dont qualify and are wasting your time
Pink…a prequalification letter is only means you quailfy for A mortgage…Does not mean you will get that mortgage for the home you find…
You can tell all buyer all offers will be accepted provided they have a loan committment letter stating the offer amount. Generally with a committment letter, the broker already ran there credit, crunched numbers with income and debt…
Now if you really want to get personal, then tell them no offer will be accepted without proof of funds, a current tri-merged credit report and recent pay stubbs so you can crunch numbers to see if they quailfy…
Most buyers fail to close the deal b/c of income these days. Also check with them on there rental history…Ask if its over 2yrs old, or you may have some headaches if they have an inexperienced broker…
100% correct there PRE QUAL!!
and MARKET MARKET MARKET! Be creative!