Due diligence Earnest money deposit Proof of funds Short sale 
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. Verify past sales. 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.
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.
The Close
DECEMBER 29, 2022
Due diligence period. What if your clients are asking about their due diligence period? Earnest money deposit. Also known as a “good faith deposit,” it’s the amount of money a buyer puts in escrow to show their commitment to purchase a property. Proof of funds.
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