As a private real estate investor in tx, what co pull credit reports for my buyers - i owner finance the homes
Answer:
You need to bite the bullet, get licensed if necessary and sign up for the program if you want to be a lender. That is simply the cost to do business and if you don't want to pay for the information, then you need to make alternate arrangements. The credit reports without fail are billed back to the borrower by the lender who collects that fee at the time of the application and is non-refundable.
You probalby could not do it on your own because of Confidentiality agreements with financial/lending institutions, etc.
You need the buyers social security numbers, etc. to pull a credit report. And I am pretty sure you have to be bonded.
If it was easy for someone, an individual, there would be a lot more identity theft.
Try contacting equifax.com they are one of the largest credit reporting agencies in the U.S. If they will not allow you, as an individual, to obtain the reports, maybe they can at least point you in the right direction.
But from past experience working with a real estate agent, each request had to be "justified" in the event of an "audit". Even the 'independent' real estate could not pull/obtain credit reports without going through a bank, mortgage company, etc.
As part of your agreement with the buyers on the purchase form and on your real estate/land contract simply have the buyer's provide you with your required credit reports, the buyers can then go to their local credit bureau and order them and supply them to you to satisfy that contingency prior to closing.
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