Remove Brokerage Remove Earnest money deposit Remove Proof of funds
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Meet the Software Engineer Who Used Crypto to Buy His $650,000 Dream Home

Realtor.com

To afford the $650,000 home, Leonard opted to use his cryptocurrency investments to cover a down payment and as proof of funds for the mortgage he took out to buy the home — he opted for a mortgage, rather than buying the home outright, because of the low interest-rate environment. And I’m ready to pull the trigger right now.”.

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11 Homeselling Myths, Debunked

The Close

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. Plus, my clients nearly lost their earnest money deposit due to the delays. Fact : Sometimes buyers can be pushy about this.

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

The Close

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. It could also refer to the managing broker in a brokerage, or the individual who’s ultimately legally responsible for overseeing transactions.