Shar NJ 1 Report post Posted December 2, 2011 Where is the best place from which to pull credit reports? Do you usually do a tri merge or single file? Thanks! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 2, 2011 There's no shortage of companies you can use. I like www.aaacredit.net. Share this post Link to post Share on other sites
Shar NJ 1 Report post Posted December 2, 2011 There's no shortage of companies you can use. I like www.aaacredit.net. Great, I was just checking that out. Do you charge an app fee to cover the cost? Its between $30 and $70 per applicant from aaacredit. Also really bummed because I have an appointment to meet a T/B at 1:30 to sign docs and pick up a certified check and they seem to have disappeared! I have not heard back from them since yesterday. I called the seller and he is understandable but I am wondering....should I have collected at least a deposit when they came to see the house and said they wanted it? They took an app and faxed it back to me right away, have been on board all week while I had my mortgage guy check credit, until yesterday... Share this post Link to post Share on other sites
pilot76180 51 Report post Posted December 2, 2011 I use creditplus to pull reports but it's a tri-merge mortgage report, so not everyone can get that, but I also really like advantage tenant. I charge $20 pp but looking at raising that a bit. Here is what I do, not that's its the only or best way. I get a call and discuss that it's a lease purchase, not a rental, etc. If they seem to meet my criteria, we meet at the house, I show it to them, and dazzle them with my good looks. I can either give them an application there, or they can go online and complete it. I run the app, and get back with them. If it looks good, I tell them they can secure the house with $1k earnest money (or $2k on a larger home) which is applied to the option fee. We meet for the $1k, or they just deposit it or wire it.We schedule the move in, and meet on the move in day and I get the rest of the money and 1st months rent to give the owner. I go home, look in the mirror, and admire my good looks... Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 2, 2011 Shar, yes, collect an application fee to cover your costs. $20-$30 per applicant is pretty much standard. As for the report, I get the basic one that is offered. I find that will suffice to determine the quality and character of the applicant. If you have such a feeling that a particular applicant needs to go through a body scanner, trust your instincts and find someone else. Regarding deposits, what the handsome John Jackson said below. You need to collect some amount of cash. If the applicants are serious they shouldn't mind. You want them to have something on the line to keep them in line.Keep us posted with these tenants and deal, Sharyn. I'm pulling for you! Share this post Link to post Share on other sites
Shar NJ 1 Report post Posted December 4, 2011 Great, thanks guys. It looks like everything is going to be finalized tomorrow. The buyer wanted to run the docs by her attorney as she is in the midst of a divorce and doesn't want this to affect her alimony. If not I have seven more people that want to look at it! Thanks again, S Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 4, 2011 Great, thanks guys. It looks like everything is going to be finalized tomorrow. The buyer wanted to run the docs by her attorney as she is in the midst of a divorce and doesn't want this to affect her alimony. If not I have seven more people that want to look at it! Thanks again, SWooHoo! Just in time for Christmas, Shar. I have my list and sizes in a PDF file. Shall I email it over? Share this post Link to post Share on other sites
Shar NJ 1 Report post Posted December 4, 2011 Great, thanks guys. It looks like everything is going to be finalized tomorrow. The buyer wanted to run the docs by her attorney as she is in the midst of a divorce and doesn't want this to affect her alimony. If not I have seven more people that want to look at it! Thanks again, SWooHoo! Just in time for Christmas, Shar. I have my list and sizes in a PDF file. Shall I email it over? Lol, please do! Share this post Link to post Share on other sites
