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Home Buying in Ambridge : Real Estate Advice

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Activity 4
Tue Jun 2, 2015
Ron Krauch answered:
That is a question for a knowledgeable mortgage broker. I recommend you talk with David Hochberg of Townstone Financial in Chicago. He will be able to tell you how to do what you'd like to do.

David's number is: (312) 896-2111
David's Email: DavidH@Townstone.com

Website: www.Townstone.com

Good Luck!

Ron Krauch
Managing Broker
Emerald Estates Realty, Inc.
Palos Heights, IL 60463
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Sat Mar 3, 2012
Thomas Pfeifer answered:
If you went thru a Real Estate agent the agent would hold the money in escrow until closing. At closing money would be applied to sale at closing. If the deal would fall thru then agent would return money as outlined in sales agreement. Not an attorney but I see no legal reason why seller could not cash check but seller may be required to return money to buyer based on the terms of the agreement if deal falls thru. I f the agreement says the house must pass inspection or the sale can be cancelled then seller would need to return the money. Consult an attorney for additional iinfo. ... more
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Fri Mar 2, 2012
Fran and Mark Redding answered:
Hi Christine

Are there Real Estate Brokers involved in this transaction? In PA and most other states Brokers are required to adhere to strict rules regarding deposits give to them. This includes depositing those funds into an escrow account within a timely manner, which may be before the inspection period has expired. In which case it is legal. If no Brokers are involved then read your agreement as to the handeling of deposit money. The moral is always use a professional wether it is a real estate professional or attorney.

Fran and Mark Redding
Prudential Fox & Roach, Realtors
1010 stonyhill Road
Yardley, PA 19067
215-321-3307 Direct
215-208-7169 Cell
www.franandmark.com
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Mon Oct 5, 2009
Patrick Thies answered:
If you are buying a home that needs work, look into a 203K loan. This is a loan that has money built in for repairs. There are guidelines and restrictions so ask a lender for details.

If this is on an existing home, try a home equity loan or a line of credit. Again, ask your lender for details.
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