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Guest Joseph_44

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Guest Joseph_44

Hi Michale C been down to Fl to look for a retirement home we

found one in Bradenton Fl. I hope to do some l/o's there my

daughter might join me but enough of that.My question is this

Add reads rent-to own.No QUALIFYING 3,800 down 800 p/m.

 

You find a t/b who likes your terms then you run a pre qualification

check.All I want to know is should'nt they run a pre check on the

t/b at first contact rather than wait till they accept the terms?

I don't think this is a dumb question what do you think?

 

Thanks again Michale C

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Joseph_44 if you don't mind my two cents, I will ad it. If I understand you correctly, you are asking why have a person set to move in then do a credit check or back ground check. If this is correct, I will respond by saying that doing it this way will save you money buy doing needless checks on people. Also you have to remember, a good portion of the people who will be entering into a lease option with you will not have the best credit (by no means does this mean all t/b have bad credit) and you are no disqualifying them by pulling their credit and finding out it's bad. This only let's you know where they are credit wise and where they need to be in the future to get this mortgage down the road. But should something happen that they don't qualify for the mortgage down the road. Oh well you get to do the money making process all over again. I hope this helps and I hope I understood you question correctly.

Shane

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Joseph, before anyone gets into my property, I will absolutely run a check on them. They are required to complete and sign my Rental Application. From there, I review it, pull a credit report, perhaps speak with them again about a few things, and make my decision.

It makes no sense to spend time and money running background checks on someone who isn't interested in my property. If they say, "We like it. What's next?", I hand them my rental app and the process above begins.

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Guest Joseph_44

Thanks Michale C and you Shane for your replies It's clear now

just wondered what others thought.

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