Point2Homes

SEPTEMBER 30, 2021

Essentially, this is a method used by scammers to defraud the lender and can land both you and the buyer in jail. You can protect yourself from potential cash buyer scams by requesting ‘Proof of Funds’ documentation and asking for a non-refundable deposit that’s at least 5% of the selling price. If not, the deal falls through.

Pre-approval 98

Pre-approval Inspection contingency Proof of funds Due diligence 98

HomeLight

JULY 31, 2021

When looking for properties to buy, he focuses on single- and multi-family homes rather than vacant land or mobile homes because they allow for “value-add.”. Harvell also suggests getting concrete proof that the buyer has purchased properties in their name as part of the vetting process. Verification of funds. Inspection period.

Earnest money deposit 98

Earnest money deposit Inspection Inspection contingency Title 98

HomeLight

SEPTEMBER 9, 2020

Once you’ve figured out where the money is coming from, it will be easier to take the next step: getting proof that you have the cash. Obtain proof of funds from the bank. Providing a proof-of-funds letter is more secure than forking over a bank statement, which contains sensitive information. Find your house.

Inspection contingency 116

Inspection contingency Inspection Title Proof of funds 116