This example serves as a cautionary tale for any homeowner preparing to sell. A real estate agent’s role is to advocate for the seller—not simply to close the deal quickly. When sellers feel pressured by their own representation, it raises serious concerns about whether their best interests are truly being protected. It’s crucial to work with an agent who prioritizes your goals, understands the market, and is willing to negotiate assertively on your behalf. The right guidance can make a substantial difference in both your selling experience and financial outcome.
Pre-Closing Error: Large Bank Deposit Causing Delay
A couple buying a home deposited $8,000 in cash into their checking account just three days before closing. The money, a gift from the buyer’s father to help furnish the new home, triggered a compliance issue when the mortgage company conducted a routine balance check the day before closing. Because the deposit lacked a required gift letter and the father had already left for a trip in Michigan, he was unreachable—delaying the closing by two weeks. This could have been avoided with proper planning. Large financial gifts intended for use in a home purchase should always be disclosed to the lender in advance. The buyers should have obtained a signed gift letter before depositing the funds. Lenders require this documentation to verify the source and confirm the money isn’t a loan, which could affect loan approval. This situation highlights how even well-intentioned financial decisions can lead to significant delays. Lenders closely examine account activity just before closing, and unexpected cash deposits can easily raise red flags. Buyers should coordinate closely with their lender throughout the process. Transparency and timing are essential to avoid delays—or worse, a failed sale.
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