HomeLight

JULY 31, 2020

If this problem can’t be resolved, an appraisal contingency in the contract allows the buyer to cancel the agreement and retain their earnest money deposit. Problems with the title. Additional remediation required by the title company may take more time beyond the closing date, causing a contract extension.

Closing 104

Closing Purchase and sale agreement Title search Earnest money deposit 104

HomeLight

MAY 24, 2022

A cash sale: Start to finish. Every home sale has its quirks, but in general, “a cash sale can be turned over in a week to two weeks,” according to Suz Poepke Pohl, owner and escrow agent at Cygneture Title for the past 10 years. With a cash sale, you can skip a few steps in the typical closing process.

Purchase and sale agreement 99

Purchase and sale agreement Closing Title search Title 99

HomeLight

JULY 31, 2021

Earnest money deposit. As is the case with a regular retail home purchase, a cash buyer should provide an earnest money deposit (EMD) as a show of good faith that they will indeed purchase the property. Step 7: Clear the title. Step 8: Close the deal and receive your cash.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

The Close

DECEMBER 29, 2022

Chain of title. As clients get ready for closing, they’ll hear a lot about the title. Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership.

Purchase and sale agreement 97

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

HomeLight

OCTOBER 29, 2020

If you’re obtaining traditional financing, waiving the financing contingency can put your earnest money deposit at risk. Non-negotiable contingencies, on the other hand, can derail or significantly delay a sale. Title and lien contingencies. Short sale or bank approval contingencies.

Purchase and sale agreement 77

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 77

HomeLight

OCTOBER 5, 2020

Before you bid, it’s a good idea to run a title search , which will give you an indication of any liens on the home. 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 53

Due diligence Earnest money deposit Banks Inspection 53

HomeLight

OCTOBER 1, 2020

As well, Fannie Mae was only giving them two days to overnight mail the earnest money deposit. It took six months of bargaining with the bank — which she believes had over-priced the house by $60,000 because they’d compared it to non-distressed sales — to land it for $220,000.

Purchase and sale agreement 54

Purchase and sale agreement Banks Earnest money deposit Equity 54