When I send my buyers a list of properties from the Navica MLS system,
they see lots of information about the property. If it is about a house, here
is some of the information that will be shown:
TERMS: How the property can be purchased, such as with cash, a
conventional loan, or an FHA or VA loan. Some properties that have been
foreclosed are in such bad shape that they can only be purchased with cash.
Also sometimes an owner will provide the financing to make it easier to buy the
house, so it will say “owner carry.”
EM DEP and EM HOLDER: How much is required by the seller to show that a
buyer is serious about purchasing the property. It is usually around 1 percent.
The earnest money holder is the person who holds the deposit between making the
office to buy and the closing. At the closing, the buyer’s earnest money counts
towards the amount the buyer brings to the closing table.
TITLE CO: The title company is the one who is going to issue the title
insurance on the property when it is transferred to the new owner. The seller
pays for the insurance so that a “good title” can be given to the new buyer.
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