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. Everything looked completely legitimate.

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Earnest money deposit Proof of funds Due diligence Title 98

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

CT Homes

OCTOBER 30, 2020

It’s extremely important that you do your due diligence on every interested buyer that submits an offer. If they are offering cash make sure they submit an updated proof of funds letter. Earnest Money Deposit. Here’s a great checklist on what to look for in a strong cash buyer !

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Earnest money deposit Inspection Proof of funds Due diligence 78

HomeLight

APRIL 30, 2021

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. Because of the due diligence involved with issuing mortgages, it takes a lot longer to close on a home with one. Step 2: Deposit your earnest money.

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Due diligence Finance Proof of funds Earnest money deposit 100

HomeLight

MARCH 16, 2023

Ramcharitar advises asking for proof of funds such as a bank statement to ensure the buyer has enough resources to cover the price of the home. The buyer does due diligence during the option period in Texas. Krueger says the due diligence period in Houston is typically 10 days for an agent-assisted sale.

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Sales Purchase and sale agreement Earnest money deposit Investor 65

HomeLight

JULY 31, 2021

Beyond doing your due diligence online, it’s also a good idea to pick up the phone and put a voice to the business. Harvell also suggests getting concrete proof that the buyer has purchased properties in their name as part of the vetting process. Verification of funds. Earnest money deposit.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

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.

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Purchase and sale agreement Closing Title search Title 104