Remove Development Remove Earnest money deposit Remove Proof of funds
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Are HUD Homes a Good Deal? How to Tell If the Properties Are a Fit

HomeLight

The name comes from the US Department of Housing and Urban Development (HUD). 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.

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Find Cash Home Buyers in Houston for a Fast, Simple Sale

HomeLight

Ramcharitar advises asking for proof of funds such as a bank statement to ensure the buyer has enough resources to cover the price of the home. Play it safe with a non-refundable earnest money deposit While no loan approval or appraisal makes cash sales less risky, there’s still a chance that the investor could back out.

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

The Close

These mortgages were developed in the 1980s in an era of double-digit interest rates when borrowers were hopeful that the rates wouldn’t rise much more. Cost of funds index (COFI). Earnest money deposit. Planned unit development (PUD). Proof of funds. Related Article. Purchase agreement.