All About Texas Realty, Inc.
254-239-5408 Contact

MENU

For FSBOs: Is Your Buyer Qualified?

Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract. Ask:

1. If the buyer has been prequalified or preapproved (better) for a mortgage. Such buyers will be in a much better position to obtain a mortgage promptly.
2. Does the buyer have enough money to make a downpayment and cover closing costs? Ideally, a buyer should have 20 percent of the home’s price as a downpayment and between 2 and 7 percent of the price to cover closing costs.
3. Is the buyer’s income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total income to cover PITI (principal, interest, taxes, and insurance).
4. Does your buyer have good credit? Ask if he or she has reviewed and corrected a credit report.
5. Does the buyer have too much debt? If a buyer owes a great deal on car payments, credit cards, etc., he or she may not qualify for a mortgage.

www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.

Courtesy of All About Texas Realty Inc., REALTOR® | Click here for printer-friendly format

Contact Us

We serve Belton, Bruceville-Eddy, Little River-Academy, Moody, Morgans Point Resort, New Braunfels, Rogers, Salado, San Antonio, San Marcos, Seguin, Temple, and Troy real estate buyers and sellers, and we do a lot of referral business. However, if you haven't been recommended to us, we can't show you our five star service unless you contact us!

Your Contact Info * Required fields are blue

First Name Last Name

E-mail

Phone

What Are You Looking For?

Property Type Choose one Single-family Multifamily Town-Home Condo Land Commercial Investment Residential Patio-Home Price Range Choose min $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000  to  Choose max $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000

Desirable Towns or Communities

Bedrooms Choose one 1+ 2+ 3+ 4+ 5+ any Bathrooms Choose one 1+ 1+ 2+ 3+ 4+ 5+ any Square Footage any 600+ 800+ 1000+ 1200+ 1800+ 2000+ 2250+ 2500+ 2750+ 3000+ 3500+ 4000+

Time Frame Immediately Three months Six months Six to twelve months Three to six-months Twelve to twentyfour months One year

Your Address

Address City

State/Province Choose one Alabama Alaska Alberta Arizona Arkansas British Columbia California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Manitoba Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Brunswick New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Ontario Oregon Pennsylvania Puerto Rico Rhode Island Saskatchewan South Carolina South Dakota Tennessee Texas Utah Vermont Virgin Islands Virginia Washington Washington DC West Virginia Wisconsin Wyoming ZIP/Postal Code

Your Message