Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tenant Screening
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 4 months ago,

User Stats

165
Posts
102
Votes
Michael Paling
  • Rental Property Investor
  • Gwinn, MI
102
Votes |
165
Posts

Application Approval Reversal?

Michael Paling
  • Rental Property Investor
  • Gwinn, MI
Posted

Has anyone denied an application that they've already approved? Basically, reversing the approval. I have an applicant that I should have out-front denied based on income, but I approved them and tried justifying it in my head. The applicant is two people who alone don't make 3x rent, but together are fine. However, one of them said they won't move in for 5 months but will sign the lease now, even though they're still renting another place during that time. They also don't have all move-in funds available until the 18th. They do have funds for a Deposit to Hold though. 

A couple hours after I approved their application, another person that actually does qualify and has all funds available now applied. This applicant would be the clear winner between the two (better income/jobs, better credit, overall more professional). Aside from just looking like an idiot, is there any reason I can't just reverse my approval on applicant #1? Nothing has been signed and no funds have been exchanged (aside from credit report costs to TransUnion, which I'll probably refund). The decision would be based on the income situation, so I'm not worried about violating fair housing laws.

Lesson learned... I still need to learn to control my emotions better. 



Loading replies...