Often when a home is sold as REO or forclosed property, the bank may require proof of funds in order to verify how legit the offer is before accepting it. Providing proof of funds is normally a request when there is an all cash offer on the table. A current balance can be submitted with the account #"s being blacked out and it should be satisfactory.... more
A firm commitment letter is generated by the lender after the borrower's and the property (ie appraisal) reivew is completed positively by underwriting. It sometimes/often has remaining conditions to be satisfied prior to close, but that commitment letter generally satisifes the mortgage contingency of a contract.
The seller of the home you are considering is likely looking for the assurance that the bank, assuming no material changes, will come through with the loan.
Good luck to you,
Unwavering Commitment to Service, Unsurpassed Results... more
It really depends on any paperwork you and/or the owner signed with the Realtor. You may want to look over the forms and see if there is an extended period of time stated for the sale, after the end of the lease. The owner may also want to review everything with his or her Real Estate Attorney. The Lawyer would be the most qualified professional to give the correct advice.... more
It is absolutely a reasonable request. The Broker previewing properties for his or her clients saves everyone time. It allows the broker to give a personal evaluation on the home to the client and I feel that walking through homes that the agent has already seen, avoids any surprises for the client good or bad.... more
Hi Karen - I am a Realtor who has a listing in Plainview - If you would like some informaiton about it go to www.49ShermanAve.com on this site you will see school information as well as neighborhood information. I grew up in Plianview so if you need more information feel free to contact me;
Good luck in your home search & if you need hlep I am available.
Lisa Albinowski CBR, SRES
Liscensed Associate Broker
Reatly Connect USA