Point2Homes

SEPTEMBER 30, 2021

Essentially, this is a method used by scammers to defraud the lender and can land both you and the buyer in jail. 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.

Pre-approval 98

Pre-approval Proof of funds Inspection contingency Due diligence 98

HomeLight

AUGUST 31, 2021

Ask for proof of funds: You should always obtain documentation that a person or company is who they say they are and actually has the funds and abilities to complete a transaction of this size. Even if you’re selling “as is”, an inspection could still be required. Ask for proof of funds and EMD.

Proof of funds 144

Proof of funds Investor Due diligence Closing 144

HomeLight

APRIL 30, 2021

If you’re using cash, you’ll have to show proof of funds with your offer. Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction. but without the mortgage.

Due diligence 100

Due diligence Finance Proof of funds Earnest money deposit 100

HomeLight

JULY 31, 2021

When looking for properties to buy, he focuses on single- and multi-family homes rather than vacant land or mobile homes because they allow for “value-add.”. Beyond doing your due diligence online, it’s also a good idea to pick up the phone and put a voice to the business. Verification of funds. Inspection period.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

DECEMBER 8, 2022

FSBO sellers might want to hire a home inspector for a pre-listing inspection to ferret out any major issues, such as a tired roof, then fix those items before going to market, she adds. The average inspection costs about $325 , depending on your home’s size. Usable land is key.”. This gives them time to handle minor repairs.

MLS 86

MLS Agents Sales Closing 86

HomeLight

DECEMBER 6, 2022

Yet after the home inspection, they’ll ask the seller to fix the items even though the price reduction took them into account. So your due diligence should include contacting the lender to ask about the type of financing and whether the buyer has the qualifications to be approved for a loan. Require everything in writing.

Purchase and sale agreement 78

Purchase and sale agreement MLS Pre-approval Agents 78

The Close

DECEMBER 29, 2022

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. Don’t you love it when the co-borrower is the client’s dad who comes along on the inspection and is suddenly an expert on chimney engineering? Due diligence period. Home inspection.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97