at the time she went to list the home, that it had once belonged to a person who was in jail for producing methamphetamine on site! The revelation also obligated the homeowner to take the necessary steps of decontaminating the home and ensuring it was fit for resale, costing her a whopping $16,000 in the process.
Pre-closing Error: Large Bank Deposit Causing Delay
A couple buying a seller’s 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, and it was “dinged,” as it required a gift letter. The father had just gone to Michigan for a hunting/fishing trip, and no one could reach him. This delayed the closing by two weeks. A good Realtor (buyer or seller agent) can prevent most if not all of these events from happening by doing their do-diligence.
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