When you present your offer, you will need to show 'proof of funds'. This can be a bank statement or letter from your bank to show you have the funds on hand to close.
With cash offers, banks will often require a shorter closing window as you won't need bank approval. This can work in your favor if the bank wants to unload the property. You will just need to make sure your title company can close within the time period allotted by the bank.
Once your offer has been accepted you often will need to have the signed purchase agreement and earnest money check (in the form of a cashiers check - no personal checks) sent in within as little as 24 hours.
Just make sure you request an inspection (even if the home is sold 'as is') Foreclosed homes are usually in tough shape and will have years of neglect. And always buy title insurance to protect your investment. Often cash buyers neglect title insurance as there is no bank to require it be purchased. This will protect your investment should it be determined there was outstanding liens or title errors discovered after closing. Without title insurance, YOU are liable for any losses.
Source: http://www.zillow.com/advice-thread/what-is-process-of-buying-a-foreclosed-home-with-cash/475317/
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