Posted by $Cash$ on July 09, 2002 at 21:05:31:
Matt,
The calls your recieve when the down is $1,500 will be from the no credit, no references crowd.
Try raising the price of the down payment to say $4,000 or $5,000 down. You will get less calls however they will tend to be more serious players.
Even if you try it for one week, your place isn’t selling at present, so I don’t believe it will hurt to try it, you may be suprised.
$Cash$
finding decent tenant buyers - Posted by Matt (So IL)
Posted by Matt (So IL) on July 09, 2002 at 20:12:27:
I have been trying to sell a house now for about a month. I am offering financing, but can’t locate an even halfway decent t/b. I have probably had 50 calls on it, but they all have bad credit, no money to put down (we are asking $1500 down) and not even a good referance.
These people wouldn’t qualify for a bank loan in a million years. So they would never be able to exercise a short term l/o. I just rehabbed the place so I don’t want to have to deal with kicking someone out in a year that can’t refi and then trashes the place.
Any suggestions? Thanks, Matt
Re: finding decent tenant buyers - Posted by Rick
Posted by Rick on July 11, 2002 at 07:48:43:
Do what $Cash$ said in the post below and advertise in the “HOMES For Sale” section, NOT “Homes For Rent”.
Rick