People! Prequalifying should be a prereq for a 5 million dollar B&B to keep the lookie lous out. I have never ever been asked to prequal to see a house that is listed, NOR A B&B! To see the FINANCIALS of the business, SURE THING, not to see it..
Joey Bloggs said:
People! Prequalifying should be a prereq for a 5 million dollar B&B to keep the lookie lous out. I have never ever been asked to prequal to see a house that is listed, NOR A B&B! To see the FINANCIALS of the business, SURE THING, not to see it.
what does the price have to do with it? there are people who can't qualify ... for any amount. they are just browsing, dreaming.
here is some FSBO info. even though it is for sale by owner, i thought it was relevant to this conversation.
'Finding qualified ... buyers is not as simple as it may seem, but with a few steps potential you can begin to distinguish the difference between buyers and browsers.
Pre-qualified is an informal process where a potential buyer obtains basic information about how much they can afford without actually applying for a loan. The lender will ask a few questions about income, current debt obligations and credit but the information hasn't been verified.
Pre-approved buyers have actually completed an application and know what they are qualified to borrow. It still doesn't guarantee an FSBO buyer will qualify to buy the house; rates, credit or employment can change quickly especially over a period of several months while searching for a home. Pre-approval is an indication of a serious buyer but there are no guarantees.'
and this is very interesting
: Get to know this type well because you will spend the majority of your time dealing with browsers - not real buyers. Some browsers are bored and enjoy spending their time "window shopping" for homes with no real intention of purchasing. Others are scoping out the amenities and price in order to compare with other listings. Of course, there are the curious neighbors from down the road who just want to peek. Browsers come in all ages, shapes and sizes but they have one thing in common...they take up a lot of your precious time.
FSBO Bargain Hunter
: The bargain hunter is on the prowl for desperate sellers. They will buy at the right price but be prepared for extremely low offers that border on insulting. Don't take it personally because most bargain hunters are simply playing a numbers game.
These potential buyers enter your clean and tidy home like a swarm of locust destroying everything in their path. They track muddy shoe prints down the recently cleaned carpet, touch everything in sight and allow the children to run loose like they already own the house. Brace yourself.
These aren't buyers at all but rather predators posing as potential FSBO buyers. They use the open house or tour to take stock of the home, find out your schedule and then later rob you blind. The ability to retain confidentiality and discretion of your private schedule is a tremendous privacy benefit of using a traditional real estate sales agent to sell your home. If you decide to go it alone then privacy and security are paramount concerns.
: Every FSBO seller should have a strong nerves before showing their home because it won't take long before you meet a sad story. These people may or may not have a real need but the end result is the same - a plea for help. It can be tempting to lower your price, take a small deposit or otherwise fall victim to their plight so establish your criteria in advance. It's for your protection as well as theirs.
: These are actual qualified buyers who are seriously contemplating a home purchase'