* Don’t Have Missing Information – Make sure you fill in all blank spaces on the contract. Place N/A in the sections that you want to leave blank.Follow
* Instructions – Read and follow the instructions carefully. Sometimes they are managing hundreds of property at one time and they will not correct your mistakes. Don’t fax the contract if they want you to email it.
* Submit Complete Offers – If offer is cash, proof of funds is required. A letter from bank stating funds equal to or greater than purchase price are available to buyer, or a bank statement in buyer’s name are both acceptable. An earnest money deposit of a minimum of $1000 is required for most offers. In some cases, the minimum earnest money may be up to 3% of the purchase price. For cash offers, the minimum earnest money deposit is sometimes 10%.
* Use Raw Numbers – It’s easier to calculate raw numbers instead of percentages. It makes the listing agents job easier “seller to pay buyer’s recurring and non-recurring FHA closing costs not to exceed $6,000.”
* Orderly Submission – Don’t email multiple attachments. Make sure combine the files into one. Also don’t forget a cover sheet.
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