RIS Media
OCTOBER 22, 2020
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. Bolin suggests that the higher earnest money deposit your client makes, the more the offer may stand out.
CT Homes
MAY 29, 2020
The earnest money deposit should be substantial and submitted to escrow within 72 hours of offer acceptance or sooner. One of the basic items investors should provide when submitting an offer is a proof of funds letter. However, you shouldn’t give this a quick once over and assume everything is ok.
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HomeLight
SEPTEMBER 30, 2020
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. Next, explore financing options. of the purchase price.
CT Homes
OCTOBER 30, 2020
If they are offering cash make sure they submit an updated proof of funds letter. Earnest Money Deposit. On every contract there is a line where an Earnest Money Deposit (EMD) amount is indicated. It is easy to get seduced by the price, but there are other important factors to review.
The Residential Specialist
FEBRUARY 27, 2024
She also personally experienced an attempt to pull a bait-and-switch with deposits. In encountering the aforementioned scam, Veach had asked for and received bank statements, identification and proof of funds. Fortunately, the title company verified the check before depositing it, uncovering the fraud.
Realtor.com
APRIL 30, 2021
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.”.
HomeLight
JULY 31, 2021
Harvell also suggests getting concrete proof that the buyer has purchased properties in their name as part of the vetting process. I’m not talking about a ‘proof of funds’ letter — those are easily manipulated,” he says. “If Verification of funds. Earnest money deposit. Verify past sales.
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