Doug Voss

Many First-Time-Homebuyers don't really understand what they can afford and also don't understand how their credit situation truly affects their ability to buy. I deal with quite a few lower income clients and they ALL want MORE than they can afford. They usually don't have much money saved up if any at all and they think they can buy with no money down. Some can, using special 1st Time Homebuyer incentive programs provided by the government and certain lenders.

I like to offer the idea of Lease with Option to Purchase as a method for them to own a home. If they are on the border of qualification for conventional bank financing, but not quite there, we can try to negotiate a small down payment and affordable monthly rent payments with some portion of the rent being applied to future purchase. You might be suprised how many sellers would actually accept this type of offer if presented correctly.

Each time I have one of my investment properties come available due to a tenant moving out, I advertise it and offer it For Sale - Lease Option. Even if I don't find a L/O client, I usually get better renters, that want to be owners but might not qualify for purchase. My units are taken care of better and usually, by working with these new renters, I can convert them to buyers over a relatively short period of time.

Next time you are trying to decide if you should work with a buyer that does not have bank pre-qualification, get to know them, they may be a future buyer!

Thanks for listening!

Doug Voss, KC Improved

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Doug R Voss, Real Estate Consultant for Platinum Realty of KC, 913-227-0798 x813