Alan Burke

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Know Your Customer

May 25, 2012 by Alan Burke

There are several steps you can take to become more cost effective in cash flow management. One of the easiest—and sometimes most overlooked—is to know your customer, and to update their information continually. Many customers who are behind on their account habitually make promises and guarantee dates and times for payment, but regularly fail to deliver on their promises and guarantees.

To help prevent what is commonly referred to as fraud by the customer, take the following steps to know your customer: [Read more…]

Land Contracts: How They Work, and Why They Can Be Good for You

May 17, 2012 by Alan Burke

In an environment where it is difficult for some buyers to qualify for financing with a traditional mortgage, a land contract may be a viable option. A land contract is also called a Contract for Deed, or an Installment Land Contract. Regardless, they all work the same.

The way a land contract works is that the seller retains legal title to the property and the buyer acquires what is called equitable title. This means that the buyer has the legal right to possess and use the property for their own purposes as they fulfill their obligations under the land contract. [Read more…]