The credit challenged buyer. Though there are still some loan programs and remedies for less than perfect credit, not every buyer that may want to buy your home is going to be able to do so within the time period you want. Furthermore, since the rules are changing almost daily, there is a distinct possibility that a person with credit dings approved today, might not be approved tomorrow.
It is very important to have an understanding of the purchaser's ability to get financing for your home, before even accepting the terms of the contract. Then it is equally important to make sure that the buyer proceeds to get financing as soon as possible after the contract is written, to insure that you do not tie the home up with someone that ultimately can't purchase.
There are two sides to most issues, and this is no exception. Qualifying is best done by an objective professional third party. One who is experienced, stays on top of the changes and is reliable. Otherwise you risk alienating the buyer and losing the contract on a qualified prospect.
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