HomeLight

JANUARY 5, 2022

If your friend plans to pay for your home with all-cash, then you want to have your attorney verify proof of funds. A title company or real estate attorney will conduct what’s called a title search as a step in the due diligence period of a home purchase. Source: (Christina @ wocintechchat.com / Unsplash).

Pre-approval 111

Pre-approval Purchase and sale agreement Title search Title 111

HomeLight

JUNE 7, 2022

Preapproval matters because it tells you how much a lender is willing to lend you which dictates a budget for your home search. While prequalification can give you a good idea of what you could actually be approved for, it’s not a guarantee or a commitment on the part of the lender to actually lend you any money. Preapproval.

Mortgages 111

Mortgages Loans Lending Banks 111

HomeLight

APRIL 30, 2021

If you’re using cash, you’ll have to show proof of funds with your offer. Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction. Source: (John Jennings / Unsplash).

Due diligence 105

Due diligence Finance Proof of funds Earnest money deposit 105

Marco Santarelli

AUGUST 16, 2024

Factor in down payment, closing costs, renovation expenses, and a reserve fund for unexpected repairs. Explore financing options: Research mortgages, hard money loans, and private lending options. Due diligence is paramount: Thorough inspections and title searches are essential to uncover potential liens or hidden issues.

Due diligence 52

Due diligence Purchase and sale agreement Renovation Title search 52

Redfin

AUGUST 29, 2024

The underwriter will do a title search on the property to ensure the current owners actually own the property. Lenders want to ensure that they aren’t lending you more money than the home is actually worth. On your closing date, you’ll need to bring your ID, proof of funds for your closing costs, and the closing disclosure.

Earnest money deposit 63

Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

The Close

DECEMBER 29, 2022

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. A title search helps create that chain and is usually conducted by a lawyer or title company.

Purchase and sale agreement 98

Purchase and sale agreement Title Pre-approval Proof of funds 98