Real Estate Note Owners Biggest First Mistake • 08.19.06
The single most common mistake that a note holder makes when creating a note is that they fail to check their buyer’s Credit Report. It seems so simple, but it is worth repeating “Most people fail to check the credit report of their prospective buyers!!” Can you believe this? Just by doing this one simple step can save you a bunch of money now and in the future.
How so? First and foremost by checking your potential buyers credit score can help resolve your worries of your buyer’s ability to repay their future debt to you. Heck, I don’t know of any bank that would not check the credit score of any one of their customers seeking a mortgage. So why shouldn’t you? (more…)
