Sales script
Handling a bank decline
How to keep the buyer talking after the first lender says no.
Quick takeaways
Handling a bank decline
- Stay calm. The deal is not over yet.
- Ask what the lender saw.
- Never promise a yes.
In the moment
Do not say sorry for the bank. Do not promise the next lender will say yes. Tell the buyer there is another place that looks at deals like theirs.
Say this
“The first lender passed. That happens. We work with a broker who gives deals a second look. No promises, but they read the whole file. Want me to send it?”
Questions to ask
- What do you think the lender saw?
- What work is booked for the next 90 days?
- How much could you put down?
- Would a different machine or price work?
Never say
- “You're approved over there for sure.”
- “The rate will be the same.”
- “It'll be done today.”
Then do this
- Write down why the first lender passed, if you know.
- Send the file through the dealer portal.
- Tell the buyer a broker will contact them.