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Are HUD Homes a Good Deal? How to Tell If the Properties Are a Fit

HomeLight

The name comes from the US Department of Housing and Urban Development (HUD). The HUD Home bid package includes a sales contract , an addendum regarding lead-based paints, an earnest money deposit of 5% through cash, cashier’s check, money order, or letter of credit, and a forfeiture of earnest money deposits document.

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Find Cash Home Buyers in Houston for a Fast, Simple Sale

HomeLight

He adds that negotiations and home inspection issues could further reduce the price by 10%. You don’t need the added stress that comes with the risk of the buyer’s financing falling through or a home inspection turning up unpleasant surprises. Ramcharitar inspects the property and then gives a verbal offer followed by a written one.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

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? Cost of funds index (COFI). Home inspection.