Due diligence Earnest money deposit Proof of funds Title search 
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.
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. Title search: 3 days.
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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.
HomeLight
MARCH 16, 2023
Save money on closing costs and other fees: Although you’ll probably give a discount by selling to a cash buyer, you’ll save on various costs that cut into your profit with a traditional sale such as real estate agent commission averaging 6% in Houston. The buyer does due diligence during the option period in Texas.
The Close
DECEMBER 29, 2022
Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.
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