1,457,769
My clients appreciate that what's good for one is good for all! If they think they deserve special treatment, they're not that special after all
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Julius Schoenherr
Daytona Beach, FL
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Allie Angeloni
Oro Valley, AZ
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Amanda Christiansen
Fort Wayne, IN
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Susan Emo
Kingston, ON
7,869,077
Yes. Treat every client the same.
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Eric Kodner
La Pointe, WI
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Allie Angeloni
Oro Valley, AZ
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Richard Weeks
Dallas, TX
2,221,927
all offers will be accompany with a pre qualification letter from a lender of proof of funds, no exeptions.
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
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Anthony Acosta - ALLAT...
Atlanta, GA
2,785,156
Yes and absolutely. Why? They hide money, are creative and not liquid. Furthermore, they may liens, lawsuits and wage attachments. Pre-approve!
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
3,416,038
Always, if i am representing the seller, they would want me to do my job no matter who the buyer
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
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Scott Godzyk
Manchester, NH
4,904,820
If you ask for a pre-approval from one buyer and not another would that not be a violation of fair housing laws? You are providing different levels of service.
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Nina Hollander, Broker
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
5,115,152
Yes, I do. Income is one thing. Credit viability is another and those two don't necessarily go hand in hand.
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Pete Xavier
Pacific Palisades, CA
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Richard Weeks
Dallas, TX
1,728,556
We sure do; I don't care who the person is making the offer. Too many celebrities have gone 'belly-up'
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Richard Weeks
Dallas, TX
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Nina Hollander, Broker
Charlotte, NC
4,800,132
I haven't had the opportunity, yet.
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Nina Hollander, Broker
Charlotte, NC
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Richard Weeks
Dallas, TX
613,494
Years ago I had a professional athlete who made $2.2 Million a year...the wife was an accountant, so I did not ask the hard questions.
He only wanted to buy a home for less than $1M...and could not qualify.
Aside from crappy credit, he owned 5 other homes and had 6 cars.
I learned a lesson.
Eve
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Nina Hollander, Broker
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
5,772,593
Richard,
We always verbally pre-qualified. The financials in leasing to major execs were only revealed to the landlords after an offer was accepted. This was done through their banks, accountants and attorneys. We deal with letters of credit and other financial instruments that were appropriate.
We had a group of developers we worked with who paid all cash in 30 days, and we never asked them for a pre-approval or proof of funds. It would have really offended them. One of our clients works in one of the wealthiest communities in the world, she does not ask, she knows. It really depends in my opinion. A
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Richard Weeks
Dallas, TX
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Richard Robibero, e-Pr...
Toronto, ON
3,350,289
Why not? No exceptions. Income is not a measure of the amount of debt.
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
108,016
Escpecially for a public figure....
My worst lending experiences have been with celebrty types. They often have sources of income that have been closed by a judge to the public (spousal, child support etc. which kills the deal whether they are receiving it or paying it) and make it impossible to verify contiuance...
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Nina Hollander, Broker
Charlotte, NC
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Richard Robibero, e-Pr...
Toronto, ON
658,340
I don't ask for a prequal letter. I just ask for their bankers info.
Why work with a millionaire when you can work with someone who handles dozens of them. You will still need a letter for the seller, there could be multiple people with the same name as your client.
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
921,504
These folks have funding options not available to the 97%.
I inquire how they have sold real estate in the past.
Without exception they report they want buyers who have been vetted.
I suggest ways to cloak identify, if needed, and get the docs needed.
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Allie Angeloni
Oro Valley, AZ
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Richard Robibero, e-Pr...
Toronto, ON
1,466,257
Richard Robibero, ABR, SRS Yes, I would. Why should they be treated any differently?
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Nina Hollander, Broker
Charlotte, NC
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Richard Weeks
Dallas, TX
3,071,489
Always. Period.
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
5,031,788
Always!
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
4,583,484
Why not?
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
1,847,471
Just ask for a pre-approval which is standard protocol. Get financing in position first should be your reply.
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Nina Hollander, Broker
Charlotte, NC
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Richard Weeks
Dallas, TX
1,389,005
Yes I do. Everyone gets treated the same.
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Julius Schoenherr
Daytona Beach, FL
582,106
Professional athletes are notoriously bad with money. I wouldn't make an exception for anyone when it comes to providing proof of financial capacity.
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Nina Hollander, Broker
Charlotte, NC
4,319,773
Richard Robibero, ABR, SRS never worked with public figure as yet. However, they all need to have the pre-approval soon once we start working together.
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Nina Hollander, Broker
Charlotte, NC
6,422,088
I did get a state lawmaker who wanted to rent for me once, she had to fill out an application just like anyone else.
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Nina Hollander, Broker
Charlotte, NC
3,988,013
Yes I treat them the same and they actually could be heavier in debt and not qualify.
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Richard Weeks
Dallas, TX
1,078,251
I think a preapproval should be obtained in this case --- there are plenty of people that make plenty of money and have either crap for credit, or spend 10X what they make.
If they're relying on financing, they need to be preapproved.
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Nina Hollander, Broker
Charlotte, NC
1,525,616
I would ask them how they intend to pay and if they are paying in cash I tell them our office requires verification of funds.
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Nina Hollander, Broker
Charlotte, NC
1,506,613
Just because a sports star gets "5 million/yr" doesn't mean they don't blow it all on cars, parties and women. I know of some Football players who make several mill/yr and live off of $65k to invest the rest. Others make 5 times that and don't have a penny to their name. Look at Kanye West begging for money from his fans 'cuz he broke.
Yeah, I don't care if you're Jesus Christ, God, Allah, Buddah, The Flying Spaghetti Monster, or "The Dude" I'm still asking for proof of funds.
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Nina Hollander, Broker
Charlotte, NC
4,964,616
1,624,953
No doubt:) In my experience, all entertainment related figures have credit issues, at the same time, most of them have LLC, trusts, and other sort of entities they want to use.
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Nina Hollander, Broker
Charlotte, NC
956,722
3,743,307
I have done it both ways in the past. But hig income doesn't necessarily translate into being qualified to purchase a particular property. And most DC celebrities are politicians, and with those I do request a pre-approval letter or other documentation.
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Nina Hollander, Broker
Charlotte, NC
290,969
My thought would be 'yes', because they may have name recognition but they may not actually have funds due to debts. I would think of this as part of my job as a professional and would not think it was offensive. Who knows what their finances are in reality, as I would not be basing my process on their reputation, since anyone can have issues. Just a thought from a newbie Richard Robibero, ABR, SRS - I will check other's comments!
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Nina Hollander, Broker
Charlotte, NC
1,209,215
We've had clients that were surgeons, CEOs, and independently wealthy business owners paying cash for $500,000 homes. (That's high end in our area) We've always gently asked if it's a cash purchase or can we recommend a fantastic mortgage banker for them.
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Nina Hollander, Broker
Charlotte, NC
98,823
Yes. Salary does not equate to an ability to purchase.
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Nina Hollander, Broker
Charlotte, NC
1,057,254
It may depend on how rich and famous the seller or landlord is ;) and what THEY ask for . . .
but as a rule, big guys have offices and CFOs to easily provide info if needed.
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Allie Angeloni
Oro Valley, AZ
823,679
Yes, personal information is more reliable than the public information.
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Nina Hollander, Broker
Charlotte, NC
469,510
I would not necessary ask them for a pre-approval letter before spending time with them or showing them homes, but I would let them know we are going to need one to submit with their offer.
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Fred Griffin Florida R...
Tallahassee, FL
1,513,143
I would want it as look at how many have lost their fortunes!
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Nina Hollander, Broker
Charlotte, NC
5,878,935
32,857
Yes because just because their a public figure does not mean that the media isnt lying or that they can even be qualified to get a home. pre-approval letters always save you in the long run from doing a lot of hard work for nothing.
5,243,218
My only experience was an athlete that just signed a huge contract! Income verification was not an issue! Yearly income exceeded the purchase price!
3,168,114
Yes I ask, but not in an offensive way. Of course I also am gentle with that request from any buyer and explain the whys of having it ready to go.
2,458,263
Making lots of money isn't the same thing as having lots of money.
I would want to know whether it was a cash purchase or a mortgage purchase, and would let them know the seller would need proof of funds/mortgage pre-approval when making an offer.
637,484
Nope. But there are ways I can look up stuff on them and I do. However, when we make an offer, I need "proof of funds" to go with it. It's usually a cash deal. If it were with a loan then, yes, I would need a pre-qual.
2,684,769
Not when showing. But when presenting an offer, I will attach a POF letter.