As-is Banks Due diligence Earnest money deposit 
The Residential Specialist
FEBRUARY 27, 2024
Do some digging: “You have to be very careful and do your due diligence when you’re contacted,” says Dallison Veach, CRS, owner of Veach Realty Group in Springfield, Virginia. She also personally experienced an attempt to pull a bait-and-switch with deposits. Further, certain transactions may be more likely to entice crooks.
Redfin
MARCH 12, 2021
As you close in on making an offer on a home, your real estate agent – or the seller’s agent – will ask about “earnest money.” Earnest money is a type of security deposit, also known as a “good faith” deposit, offered to show the seller of a home that you’re serious about purchasing the property.
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Realty Biz
FEBRUARY 20, 2021
Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. Appraisal Contingency: You are waiting for a valuation and getting your loan from the bank. Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works?
HomeLight
OCTOBER 5, 2020
You definitely don’t want to overpay, especially considering you might need to pour a lot of money into repairs and other problems once the home is yours. Also remember that, although you may be hoping for a discount, the bank is trying to recoup as much of the appraised value as possible.
Realty Biz
SEPTEMBER 14, 2023
Lenders Lenders, such as banks or mortgage companies, may also engage real estate attorneys to represent their interests in a transaction. Their responsibilities vary depending on the buyer, seller, or lender involved, as well as state requirements and complexities of the transaction. Now, we will focus on buyers.
HomeLight
JUNE 23, 2022
If you need assistance navigating the legalities of keeping earnest money from a real estate transaction, HomeLight always encourages you to reach out to your own advisor. What is earnest money? Earnest money is often referred to as a “good faith” deposit. 5k for a $500K home).
HomeLight
APRIL 19, 2021
to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits. It’s no surprise that in a city with more millionaires than any other place in the world , the most desirable properties can go to contract in a matter of days.
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