The seller's agent claimed "I don't think they ever really understood why, but they did comply".
FRAUDULENT BUYERS
A real estate agent was working for sellers whose house had sat unsold for several months. They were thrilled to get a cash offer for their $400,000 asking price from a couple. The buyers offered a proof-of-funds letter from a brokerage firm. The buyers extended family turned out for the home inspection. It was like a holiday open house. Later, the brokerage informed the agent that the proof-of-funds letter had a forged signature. The would-be buyers vanished. The agent now makes sure she verifies proof-of-funds letters.
PRE-CLOSING ERROR: LARGE BANK DEPOSIT CAUSING DELAY
A couple buying their first home deposited $8,000 in cash into their checking account three days before closing. Their father had given them money to buy new furniture and appliances for the house. Their mortgage company checked balances the day before settlement, and it was "dinged" as it required a gift letter. The father had just gone to Michigan for a hunting and fishing trip, and no one could reach him. This delayed the closing by two weeks.
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