Point2Homes

SEPTEMBER 30, 2021

It’s used by buyers who already have a home they’re looking to sell to finance buying another one. You can protect yourself from potential cash buyer scams by requesting ‘Proof of Funds’ documentation and asking for a non-refundable deposit that’s at least 5% of the selling price. If not, the deal falls through.

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HomeLight

APRIL 30, 2021

Buyers using financing and putting down 20% or more. Buyers using financing and putting down between 10% and 19%. 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.

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Due diligence Finance Proof of funds Earnest money deposit 101

HomeLight

MARCH 13, 2023

Insurance companies may not insure homes with aluminum wiring or Federal Pacific Stab-Lok electrical panels due to the greater risk of fire. You are either replumbing the house, rewiring the house, or putting a new roof on the house prior to closing so that a financed buyer can get insurance.

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HomeLight

AUGUST 24, 2022

However, this buyer needs a mortgage to finance the deal, and that can take months. Do your due diligence. Before signing an offer, ask for proof of funds. The serious, professional, reliable home buyers will gladly show you legitimate proof of funds.”. Skip the appraisal. Property investors.

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Purchase and sale agreement Title search Proof of funds Title 106

HomeLight

JANUARY 5, 2022

For example, if you offer your friend a discount on your home – intentionally or not – it may be considered a “gift of equity” subject to gift taxes. That way, you can provide documentation to your tax advisor to determine if you made a gift of equity to your friend. Source: (Christina @ wocintechchat.com / Unsplash).

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Pre-approval Purchase and sale agreement Title search Title 107

HomeLight

MARCH 13, 2023

These include: Out-of-state buyers flocking to Austin – particularly California sellers who cashed out the equity in their expensive homes and can afford to pay cash in Austin. You don’t have to deal with negotiating offers, low appraisals, or the risk of a buyer’s financing falling through. iBuyers see opportunity in Austin.

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Sales Investor House Flipping Pre-approval 70

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. Value-add is the process of remodeling a home or complex to increase the value and add equity,” Shipwash explains. “In Motivated sellers.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98