Payments question

[joseph44]

Hi Dan,
I posted this question in the forum no responce:Question I have meet
a few savvy sellers know a little about lease/option's been asked by a few
if ten/buyer fails to pay monthly payments who will?I tell them we will make
their payment.Without letting the cat out of the bag all the way when they say you will how can I be sure you can.Also sorry 2 questions:I use home radar to do preliminary comps on property's what is the formula used to at
least be in the ball park on comps?I hate to rush you on this but I need an
answer a s a p.There is one more question but I just had a lapes of memory.
I'll post in forum when it comes back.Thanks in advanceDan I appreciate the
help.Have a good day today and tomorrow!!

[Dan Auito]

Hi Dan,
I posted this question in the forum no responce:Question I have meet
a few savvy sellers know a little about lease/option's been asked by a few
if ten/buyer fails to pay monthly payments who will?I tell them we will make
their payment.Without letting the cat out of the bag all the way when they say you will how can I be sure you can.Also sorry 2 questions:I use home radar to do preliminary comps on property's what is the formula used to at
least be in the ball park on comps?I hate to rush you on this but I need an
answer a s a p.There is one more question but I just had a lapes of memory.
I'll post in forum when it comes back.Thanks in advanceDan I appreciate the
help.Have a good day today and tomorrow!!

Joseph, if they are in serious trouble and you can make up those payments starting now then that helps build credibility, it may be that on the first few you'll just have to find those folks who won't question you, after a while a list of testimonials to how you helped by doing what you said will often do the trick. If you have a really good credit report you could use that to show them that you have always lived up to your obligations but this is generally discouraged. A healthy bank balance is also nice to show them, this let's them know you personally can take the payments on if necessary.

As far as comps, the better you know your farm area the easier it will be to recognize the completed value, there are a lot of different formulas and the online ones are usually to distant and vague to peg it! CMA's from an investor friendly real estate agent, a rough opinion of value from an appraiser who is willing to do a walk through with you, recent sales prices of similar homes in the neighborhood and your intuition can be of use.

I always recommend people take an appraisal class just for the education, it really helps you in this area.

Go to the links list in the post BRING THE WORLD WIDE WEB HOME and check out those resources for further ideas.I hope this helps! Dan

[joseph44]

Thanks Dan, for your responce I'm going to call one seller back and make him
an offer on a lease/option.As far as comps I guess I'll go to the courthouse.
Thanks again and have a good day!!

Just a couple more resources here Joe.
www.electronicappraiser.com (general valuations)
www.domania.com/sitemap.jsp (valuation tools)
www.camerondirect.com/compsources.shtml (comparable data providers)