Qualifiying Buyers

Truthfully, to get fully involved in qualifying a buyer it may take large amounts of time that would be best used in other methods.

I find that simply asking questions that prove their value the best method for me.

This usually includes asking these questions:
1) Where do you buy?
2) What do you buy?
3) How far below market do you need to purchase to make it worth your while?
4) Can you purchase with cash?
5) Can you tell me about the last two transactions you completed?

I qualify my Cash buyers when they say they want one of my properties. I then have them sign my non assignable contract that features a non refundable earnest money deposit. BUYER HAS BEEN QUALIFIED!!
So called buyers can provide you with all the criteria and POF in the world and never close on a deal.
I simply ad all the buyers I can find to my list. Send everyone my deal and then who ever wants the deal has to have their or their buyers money lined up in advance. They need to do all their due diligence in advance before they sign my contract. No silly weasel contingencies allowed. If they say "subject to my partners approval" I hand them my cell phone and tell them to get it before they sign my contract. NO REAL CASH BUYER EVER USES WEASEL CONTINGENCIES ANYWAY. When they put subject to financing approval on a cash deal I just laugh.

If I don't have a deal to offer or know where and how to get one then I really don't need them anyway. So I concentrate on getting good wholesale deals under contract. Put out a couple of those and you will start building a REAL buyers list.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

so much Michael, I understand now. Tammy

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