Posted by linda on April 17, 2002 at 22:49:08:
I would think that if your t/b could get preapproved. They would be buying rather than lease optioning.
I still run a complete rental app on mine though. I check ss#, DMV, Civil/criminal litigation as well as credit.
Just my opinion,
Linda(ohio)
L/O and preapproval - Posted by Bryan (Sacramento)
Posted by Bryan (Sacramento) on April 17, 2002 at 21:50:12:
Robert Shemin says that when doing a l/o that your t/b should be preapproved for a loan. Yet I just read on here that it’s not necessary. My worry is that without preapproved t/b’s you have a high failure to follow through rate like 50% or so. Who’s right?