Posted by J. Clifton on June 29, 2001 at 20:50:29:
If the seller is throwing up a reg flag by asking for references, how do you quantify your “a pretty good chance” of closing the L/O? Did he actually accept the offer? Did any paperwork get signed? Hope for the best, but don’t be surprised if he bails. Tell the truth, that it’s your first deal, if he’s motivated enough it won’t matter. Or, if he’s stuck on the issue, come back with, “well, most other buyers out there are first-time homebuyers. I’m here right now, ready to close; would you rather wait 3 months for your next first-timer?” On your first deal, all you can do is give job and character references, plus a statement (if applicable) from your attorney affirming that HE has experience with L/O’s.