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Answers (6)
- John Souerbry, "John Souerbry"
- Contributions:67
Make sure the bank statement is within the latest reporting period for that account, or reflects the balance within a few days before the offer. It's also a good idea to request a larger than usual deposit with cash deals, even additional deposits if escrow is longer than 2 weeks, perhaps an additional deposit on the day the inspection contigency expires.
Have the Buyer provide you with a proof of funds from their bank showing that they have sufficient funds to close the transaction. I would recommend requesting this information prior to accepting their offer. If you have already accepted their offer and have an executed purchase agreement it should be provided to the Seller within 5 days of acceptance.
Hope this helps!
Hope this helps!
If I am selling a property and the buyer is not using an established realty firm's agent, I will consult with an Real Estate Attorney and follow his advice. (even if he is, I will still want to consult, unless it is standard practice in your area)
Always better to be on the safe side.
Always better to be on the safe side.
- Kimberlee Quarles, "Kimberleesellshomes"
- Contributions:174
Here in San Diego it is typically a copy of the buyer's bank statement to show they have the necessary funds to cover the sales price and the closing costs.
- Pat Pribisko, "Pat Pribisko"
- Contributions:1426
I am a Realtor & an Attorney (30yrs), licensed for both only in Ohio, so I cannot & do not represent you. Therefore, what I write here is only my personal opinion. You really need to retain an attorney who handles residential real estate matters in your specific area. Cash transaction can pose some specific issues, as you (as a Seller) need to make sure there are sufficent, liquid funds available to pay the purchase price & all of the Buyers closing costs. There are other issues as well....
- Bob Brandt, "BobBrandtRealtor"
- Contributions:1019
In our area, it is customary to see a bank statement or some proof that satisfies you-maybe a letter from the bank.
Sometimes it is done during attorney approval, if you do that there.
Sometimes it is done during attorney approval, if you do that there.
When entering into a contract with a CASH OFFER. What should the SELLER request for documentation?
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