FOR SALE BY OWNER - FSBO

If you are selling your property by yourself, we can help you.

There are questions of concern you should answer.

• You are saving 6% to 7% by selling your property on your own. Do you plan to split any of  your savings with the buyer?
• Has your property been listed with a realtor? If so, what price did you ask?
• Are many people looking at your property because of curb appeal, sign in your yard and ads in the local newspaper?
• Do you have an answering machine for missed phone calls – or are calls forwarded to your cell phone?
• What do you do when someone comes to look at your house? Do you let just anyone into your home?
• Do you get these prospective buyers’ names, phone numbers, addresses and car tag number as they drive off?
• If they like your house – do you help them make a decision?
• Do you have a blank purchase contract to give them or to write up if they want to buy your house?
• The price you are asking is  $___________ How did you determine this price? $______
• How much do you owe on the property? $___________
• If the buyer’s financing is difficult to arrange are you willing to allow the buyer to pay the down payment to you over the next few years and still use the property as collateral?

FINANCING will be the looker’s (buyer’s) biggest problem. 

Let me suggest a service offered by Mortgage Makers Lending Corp. We have found that buyers need to be encouraged and even pushed to view property and make an offer on property even when they like a house and want to buy it.

The buyer typically wants to offer you far less than you are asking for your house. You need to have options in which you can offer them, such as:

We have found that people who are looking at FSBO properties do not have their financing approved and are hoping the seller might finance the purchase. If they like your house, you should immediately talk about financing and not how much lower you will sell. They may be embarrassed to talk to you about their financial condition,but they will talk to us.

You, the “For Sale By Owner” seller, have a problem here, because if you ask if the buyer has financing approved, they usually say ”yes,” but chances are you will never see them again. Your best tactic is to assume they have no financing (real estate agents require a letter of approval from the buyer’s financing source) and explain to them that you have a contingent loan approval on your house with Mortgage Makers Lending Corp. who can get their loan approved quickly, then if necessary you and Mortgage Makers can offer the buyers a creative financing method by which they can purchase your house.

If the buyer is serious, the “QUICK QUAL” form can be completed and faxed  or called into our office. We will run the approval while they are still at your house and if we can approve them, you can write up the sales contract that we feel will work for the purchase of your home, NOW!

Real Estate Assistance Program

“Home Loans For Everyone”

In effort to assist the Real Estate Professionals, Brokers, Sales Associates and your prospective Buyers and to make sure you are not wasting your time with buyers that cannot get their loan approved we will now Pre-Qualify your buyers. This verification of financing is free and will be supplied within your required time frame.

Mortgage Makers Lending Corp.is now offering “QUICK-QUAL”  a quick view of  your buyers with our Pre Qualification program so that you can be reasonably assured that your buyers will be able to get financing. This approval will also give your buyer the assurance that they can buy a house and will feel comfortable about making an offer on the property of their choice. If your buyer does not want to get Pre-Qualified now you might have them call us later or if they like we can contact them at a later time.

Our rates are usually lower than banks with buyers that meet the conforming guidelines, have perfect credit and 10% to 20% down. We specialize in 100% financing for conforming, non-conforming and sub-prime buyers by searching over 70 of our approved lenders, even with repos, judgments, bankruptcy, limited credit and low credit scores. If required we will process a buyer through our “Credit Score Improvement Program” to assist them in increasing their credit scores so  they can get 100% financing for the purchase of a home. When you are writing the purchase contract, please call us so we can explain the terms of the contract so the buyer’s financing will work once the purchase contract is accepted. If necessary we will talk with your buyer to determine how to structure their loan based upon their special circumstances, such as:

2.      How much money do they have for down payment and loan costs $____________

3.       Gross monthly Income $__________and time on job ____ total monthly payments $__________

4.      If self employed, what is their yearly net income $____________________ (stated income)

5.      If moving to a new area will the type of employment be the same._____ and same income $_________

6.      What monthly payment do they anticipate $__________ and what price property $ _____________

7.      What type property do they desire _______________ Where do they plan to live ________________.

With the basic information sent to us on the QUICK-QUAL - LOAN REQUEST INFO. Form (attached), one of our experienced loan officers will run the buyers credit, will review the buyers information for loan pre-qualification based upon our knowledge of all our conforming (A) and non-conforming (B&C) lenders and within your required time frame we will fax or call the approval or comments about their loan approval. Please complete as much information as possible on the attached Form and fax to 918-786-8891. We will call and/or fax our findings to you on the FOLLOW UP – LOAN STATUS REPORT form within thirty minutes to twenty four hours based upon your requirements. Please give me, or one of our eleven loan officers a call.

QUICK-QUAL -- LOAN REQUEST INFO.

NEED REPORT ____ Faxed ____ Called to me BY (date/time)_________________________

======================================================

NAME:

Borrower:Last_____________________________________ First _____________________ Middle _____________     Social Security # _________________________________age (DOB) ________________

Co Borrower: Last__________________________________ First ____________________ Middle _____________    Social Security # _________________________________age (DOB) _______________

 Address: ___________________________ City __________________ State______ Zip ________Own/Rent_____

 Phone: (Res.)_____________________ (Work)______________________ (Cell) ______________________

 Marital Status:       Married _____  Single _____  Divorced ______  Dependent children _______ 

EMPLOYMENT:

 Borrower _____________________ Length of Emp._____ Income: Hourly Rate $________ Salary $___________

 Co Borrower__________________  Length of Emp._____ Income: Hourly Rate $________ Salary $___________

If either Self Employed - How Long_______ Net income  Last year $_______________Previous $____________    

PRE-APPROVAL OR  PURCHASE (if a contract has been accepted-Fax copy):

 Address: ___________________________City ____________­­­____ Does buyer now own property? ________

Desired price of  property $______________  Area _________ SFR ___Second Home___ Rural____ Investment ___

DOWN PAYMENT:  Amount for down & fees $______________ Savings___ Gift___ Seller Carry __Other __ CREDIT: Good__ Bad___ None___; Bankruptcy dismissed_________ Foreclosure___Repo___ Judgements___ MORTGAGE OR RENT PAYMENT: Ever 30 days Late____ Pay by: Check ___ Money order___ Cash__

Borrower’s Signature Authorization:  I (we) authorize  Mortgage Makers Lending Corp. their Loan Officers, Lenders  or assigns in association with this Real Estate Company and their Associates  to  order a consumer credit report and verify other credit information, any asset records or balances, including past and present mortgage and landlord references. It is understood that a copy of this form will also serve as authorization. The information obtained by Mortgage Makers Lending Corp. is only to be used in the processing of my pre-qualification application for a mortgage loan. The qualification and conditions of this loan approval can be discussed with this Real Estate Company and its Associates as referenced above.

Borrower’s Signature _____________________________________________________________________________  Date _____________________

Co Borrower’s Signature  __________________________________________________________________________  Date _____________________

Any questions or comments should be directed to  MORTGAGE MAKERS LENDING CORP. Phone 918-786-7777 -  888-500-0000 FAX 918-786-8891