"Unqualified buyers" refer to individuals or entities who do not have the appropriate qualifications or criteria to make a purchase or investment. They may lack the necessary financial resources, creditworthiness, knowledge, or experience to engage in a particular transaction.
Full definition
Simply put, people typically want to sell their home as quickly as possible and don't want to waste their time considering offers
from unqualified buyers.
These no money down programs
encouraged unqualified buyers to apply for home loans, and they made it easier for sub-prime lenders to push through loan approvals for people who, unfortunately, shouldn't have been buying homes at that time.
The main reason was government granted way too many people cash and incentives to people who had no way to make long term payments and thus people who had NO business buying a property were bidding up the prices on property when they were
artificial unqualified buyers!
Crazy Guy tracks down phantom assistant, who says he / she quit because of dirty / misleading tricks used by Mortgage Guy to write mortgages
for unqualified buyers, often by doing what was done to me, and by then shoe - horning them into less - than - satisfactory situations under threat of being sued for breach of contract.
Regulators have cracked down since the housing boom free - for - all,
when unqualified buyers and borrowers got or refinanced mortgages they couldn't actually afford.
maybe not but the sellers time must be worth something... especially if his property is tied up with offers that fall through because
of unqualified buyers.
The banks and mortgage brokers, however, knew these were
unqualified buyers, as their inside jokes about liar loans and Ninja loans (no income, no job or assets) attest.
We don't want to waste our time or our client's time by introducing a purchaser that is not qualified and we do not want
an unqualified buyer to get on a property that they should not otherwise have access to.
Their use of social networks, how they chose their Realtor, what they didn't like — registering in order to get information and
unqualified buyers — was enlightening.
I've also found that
unqualified buyers — those with bad credit, no credit, no downpayment — think they can get around their money problems by pursuing FSBOs.
Let's face it: When your house goes on the market, you're not only opening the door to prospective buyers, but also sometimes to unknown vendors and na?ve or
unqualified buyers.
You will waste less time showing your home to
unqualified buyers, because most buyers who look during the holidays are serious about buying.
This meant lenders could sell the loans to
unqualified buyers and then dump them on Fannie and the taxpayers.
No Fees, No Commissions,
No Unqualified Buyers and No Hassle.
REGULATIONS forced lenders to give mortgage loans to
unqualified buyers.
Here are the top 10 reasons why you should list your home during the Holidays: 1) You will waste less time showing your home to
unqualified buyers, because buyers who look during the...