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 the UP of Michigan for a hunting/fishing trip and no one could reach him. This delayed the closing by two weeks.
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