HomeLight

AUGUST 31, 2021

A divorce, job move, or low bank account can all be strong motivators to go for the speed and convenience of a cash sale. Ask for proof of funds: You should always obtain documentation that a person or company is who they say they are and actually has the funds and abilities to complete a transaction of this size.

Proof of funds 144

Proof of funds Investor Due diligence Closing 144

HomeLight

MAY 24, 2022

Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. Everyone involved will need time to perform their due diligence. With a mortgage, the bank verifies that the buyer has the down payment available to close.

Purchase and sale agreement 101

Purchase and sale agreement Closing Title search Title 101

HomeLight

JULY 31, 2021

turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. Beyond doing your due diligence online, it’s also a good idea to pick up the phone and put a voice to the business. Inspection period. Step 6: Pass the inspection.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

The Close

DECEMBER 29, 2022

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. Don’t you love it when the co-borrower is the client’s dad who comes along on the inspection and is suddenly an expert on chimney engineering? Due diligence period. Co-borrower.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

MARCH 16, 2023

There are just not enough buyers who have a good credit rating and can get bank underwriting,” he says. He adds that negotiations and home inspection issues could further reduce the price by 10%. With a cash home buyer, there are usually no financing or inspection contingencies typically found in traditional real estate contracts.

Sales 65

Sales Purchase and sale agreement Earnest money deposit Investor 65

HomeLight

MARCH 13, 2023

You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises. Reiner advises asking for proof of funds such as a bank statement to ensure the buyer has sufficient resources to close the deal. Due diligence for a cash buyer is mostly title related.

Sales 79

Sales Investor Due diligence Renovation 79