Rochester Real Estate

NOVEMBER 5, 2015

A mortgage lender will check your credit score and financial history to decide how much they can lend to you. A pre-approval letter must be included, and proof of funds can also help in a seller’s market. If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit.

Purchase and sale agreement

HomeLight

SEPTEMBER 30, 2020

The HUD Home bid package includes a sales contract , an addendum regarding lead-based paints, an earnest money deposit of 5% through cash, cashier’s check, money order, or letter of credit, and a forfeiture of earnest money deposits document. Next, explore financing options. of the purchase price.

Earnest money deposit

Redfin

AUGUST 29, 2024

The offer letter will include details like your name, address, the price you want to pay, contingencies, and possibly, your earnest money deposit. What’s an earnest money deposit? An earnest money deposit is usually 1-3% of the purchase price but can vary by market. on your close date.

Earnest money deposit

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. The two most common mortgage contingencies include: Financing contingency : The buyer’s finances need to check out to lend them the money.

Due diligence

The Close

DECEMBER 29, 2022

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. The borrower isn’t taking money out based on the equity of the property as they would in a cash-out refinance. Proof of funds.

Purchase and sale agreement