HomeLight

OCTOBER 5, 2020

In areas with a lot of residential demand, flippers or future landlords may crowd foreclosure auctions hoping to snag a deal — just like you. For the best chances at a winning bid, you’ll need to have cash in hand — or at least a cashier’s check that includes a significant earnest money deposit ready to be paid out that day.

Due diligence 55

Due diligence Earnest money deposit Banks Inspection 55

HomeLight

OCTOBER 29, 2020

If you’re obtaining traditional financing, waiving the financing contingency can put your earnest money deposit at risk. Short sale or bank approval contingencies. Plus, you’ll want to include a financing contingency in your purchase contract which states that the home loan has to clear before the deal can close.

Purchase and sale agreement 80

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 80

HomeLight

JULY 31, 2021

Although it’s not as sure of a bet, you could also attract a regular residential buyer who has enough liquid assets to buy a house outright. Earnest money deposit. Some investors are starting to sneak the closing costs back in, so their purchase price appears to be higher than their competitors,” he says.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

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. This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. Short sale.

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Purchase and sale agreement Title Proof of funds Pre-approval 98