The Residential Specialist
FEBRUARY 27, 2024
Agents must stay vigilant as fraud and scams become more prevalent in the residential real estate profession By Jason Henninger Anywhere there are financial transactions, the threat of fraud comes with them. In encountering the aforementioned scam, Veach had asked for and received bank statements, identification and proof of funds.
HomeLight
JUNE 29, 2021
A cash offer is an offer made by a homebuyer who wants to purchase a piece of residential real estate without borrowing money from a lender. This means that the buyer has the funds to purchase the home in full. Investors are responsible for 20% of residential real estate sales in the U.S. OK, but what exactly is a cash offer?
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Realty Biz
SEPTEMBER 28, 2022
Most buyers don’t usually have a large amount of money, so they often use their banks’ financing to help them buy homes. Most states mandate that homeowners fill out a residential disclosure form which includes specific disclosures about the roof. The home will serve as the security for the bank’s investment.
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. Although it’s not as sure of a bet, you could also attract a regular residential buyer who has enough liquid assets to buy a house outright. If only there were a way to — poof! Verify past sales.
The Close
DECEMBER 29, 2022
This is when a homeowner turns a deed over to the mortgaging bank to avoid going into foreclosure. This is the amount of a property that a person (not the bank) actually owns. A third party holds funds in escrow during the real estate transaction, releasing them at closing. Generally, this refers to earnest money funds.
HomeLight
APRIL 26, 2023
The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. A bank statement will help weed out people who are just looking around and don’t have the qualifications to purchase your house from legitimate buyers who can obtain financing. Require everything in writing. See the next step!)
HomeLight
MAY 25, 2023
Richter cautions FSBO sellers that private appraisals may differ from bank appraisals. “I Here are key considerations when considering an offer on your North Carolina home: Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds. Require everything in writing. Look for a good real estate attorney.
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