For today's real estate investor, good credit is critical to enact a sale of your property to a buyer.
But there are alot of factors that can harm your buyer's credit and they may not even know it.
For example, an identity thief could steal your personal data and social security number to get credit cards without your permission or knowledge. Or a past due phone bill that doesn't even belong to your buyer may pop up on your credit. It has happened to our buyers more often than I care to admit.
Many of these inaccuracies prevent our buyer from closing a purchase. So in that case, we sell to them with a 12-24 month lease-purchase agreement. Before we move our buyer into the property, we make sure they are aware of the credit problems that need to be fixed, and give them a plan to take care of these items.
This keeps the buyers happy because they feel more in control and empowered, and this keeps us happy because we know our lease-options will cash out sooner when the buyer obtains new financing.
Many of my buyers are shocked to find some of the inaccuracies on their credit report. Fortunately there is a simple solution to empower our buyers. We encourage them to check their credit once a year just to see their progress.
Fortunately, there is a FREE way, that doesn't cost a single dime that lets you check credit every 12 months at no cost. There is no excuse not to check your credit in this manner.Click AnnualCreditReport.com to go straight to the source.
Beware of imitation sites - to the best of my knowledge and research this is one of the only few truly authentic sites.
I agree with you completely. Having a good credit report is must for buying a home, but maintaining it properly and safely is primarily thing to do. I think you are providing a great service to your clients and this is definitely going to build your credibility in the market.
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