Potential tenant buyers need to be handled with care. In order to ensure that you get quality people, you need to do your research. That begins with a credit check.

A company can pay for a service that permits a credit check right in the office. Such a service can save valuable time and money. It's useless to expend a great deal of effort working with a potential client who, in the end, does not have an appropriate credit history.

It's important to involve loan officers early on in the process. You should have spoken to a couple of different loan experts from the very beginning to find out what an applicant needs to do in order to qualify for a home loan. Since the loan officers are the ones who will eventually provide the applicant with the cash, it makes sense to have the applicants pre-approved from the start. Such a technique can streamline the process, making the deal run smoothly.

The loan officer will know whether the applicant needs to improve a credit score or get a trade line established. A trade line is a revolving line of credit. It can be a signature loan at a bank or credit union or a credit card. Local banks and credit unions can be very helpful in enabling people who don't have credit to obtain a secured line of credit.

You may be wondering how often you should contact a tenant buyer. That depends entirely on the individual buyer, since each may have a different level of motivation. In some cases, a potential buyer may need a 12-month history of on-time payments before he or she can purchase a house. As a result, when the 12 months are nearly up, you may be contacting the would-be tenant buyer more often.

If you cannot reach a tenant buyer by phone, you might want to go to his or her home and leave a note. You may have to do this more than once. Or you may want to mail the potential client some information to motivate him or her to contact you directly.

When you are searching for potential tenant buyers, you may get a number of leads. But it is important to narrow your list down so that you are dealing with only those who have a reasonable hope in succeeding in obtaining a home loan. Otherwise, you are wasting your time-and time is a precious commodity in the real estate world.