CT Homes

MAY 29, 2020

Contingency periods should not be unnecessarily long, and should fall in the range of 3 to 10 days depending on the complexity of any necessary due diligence. The earnest money deposit should be substantial and submitted to escrow within 72 hours of offer acceptance or sooner.

Proof of funds 101

Proof of funds Earnest money deposit Due diligence Investor 101

HomeLight

APRIL 30, 2021

Buyers using financing and putting down 20% or more. Buyers using financing and putting down between 10% and 19%. A cash offer simply means you have all the money you need to buy the home in cash. If you’re using cash, you’ll have to show proof of funds with your offer. FHA and VA buyers with low down payments.

Due diligence 99

Due diligence Finance Proof of funds Earnest money deposit 99

HomeLight

JULY 31, 2021

Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy. A 10-day closing translates as getting your home sold around five times faster than with a buyer who needs financing in today’s market.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

MARCH 16, 2023

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. Rather than invest a great deal of time and money to update your home, you can leave this up to someone else while you begin the next chapter of your life.

Sales 64

Sales Purchase and sale agreement Earnest money deposit Investor 64

HomeLight

MAY 24, 2022

Everyone involved will need time to perform their due diligence. The seller needs to verify that the cash buyer has the money to buy the house: 24 to 48 hours. Without a lender to verify funds, the seller will likely request proof of funds and earnest money from the buyer.

Purchase and sale agreement 102

Purchase and sale agreement Closing Title search Title 102

The Close

DECEMBER 29, 2022

A short-term loan that covers the cost to build a property until the owner can secure long-term financing. After a good look at their finances, a nice long chat with their financial advisers, and an extensive application with a mortgage lender, they might finally have an answer. Due diligence period. Construction loan.

Purchase and sale agreement 98

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