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Navigating Bidding Wars During a Hot Real Estate Market

RIS Media

– Coming Soon: Homes that are listed as coming soon in your MLS are technically not allowed to be shown but can accept offers prior to showing. Your client should also come prepared with a few other things: a pre-approval letter, earnest money deposit and, if they are paying cash, a proof of funds document.

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11 Homeselling Myths, Debunked

The Close

After all, a new listing on the MLS gets the most attention in the first week. Selling a home is the same—it’s not just a sign in the yard and a posting on the MLS. If it’s a cash buyer, ask to see the pre-approval letter or proof of funds—and even if they have the contact information for their lender or banker.

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Are HUD Homes a Good Deal? How to Tell If the Properties Are a Fit

HomeLight

The HUD Home Store site is updated more frequently, while you may still see HUD properties on the MLS that are no longer available. The forfeiture of earnest money deposits document means that HUD can retain your 5% deposit if you do not fulfill your end of the sales contract for some reason not already outlined in the contract.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

Simply put, this measures the number of days a property is for sale, from the day it is listed on the multiple listing service (MLS) to the day a buyer and seller are under contract. Earnest money deposit. Multiple listing service (MLS). Proof of funds. Which is why she’s calling you before breakfast.