Financing Issues

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Fraud Alert – Seller Carry Back Loans

Be aware of this pattern, typically with residential homes priced from $2 million to $3 million. Here’s how the scam works . . . There’s a request from the buyer for the seller to carry back a loan on a residential property. The deal seems straightforward: Full price cash offer Quick close However, there areRead More

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When to Be Wary of Cash Buyers of Real Estate

Sometimes you may come across wealthy clients that want to pay cash for a property. In the United States, only around 23% of property sales are cash transactions. Typically, buyers purchasing for investment purposes and foreign clients are more likely to pay cash than other home buyers. But, when should you be concerned about aRead More

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Mortgage Fraud in Real Estate & Mortgage Brokering

As a real estate professional, you may come across mortgage fraud at some point during your career. Mortgage fraud can be defined as fraud related to property mortgages or equities. Typically, this involves a “mortgage fraud for housing” situation, where buyers misrepresent or purposely omit information in their loan application to secure a larger mortgageRead More

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Blockchain, Cryptocurrency and Your Real Estate Business

Blockchain is changing the way we gather, store and use information.  And it’s now being tested and used for some real estate transactions. As of February 2018, New York and Arizona have started accepting blockchain contracts and cryptocurrency as legal tender. (Check with your state to see what current regulations are in place.) You shouldRead More

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Educate Your Home Sellers on FHA Loans to Reduce Your Risk of A Real Estate Lawsuit

Federal Housing Authority loans (FHA loans) have even higher loan limits for 2018 in many counties, which should make them an attractive option for a larger range of buyers.  But, there are risks that sellers’ agents should be aware of when dealing with FHA buyers. It’s critical that you inform your clients of potential issuesRead More

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How to Prepare your Real Estate Clients for the Appraisal: What Appraisers Want You to Know

Real estate appraisers do a complicated job in an exacting, precise manner. When they create an appraisal, they have nothing to gain or lose from the final number—with the notable exception of their reputations and therefore, their livelihoods. And while most appraisers are tight-lipped and focused, they do have quite a few points they wantRead More

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What is a Seller Carryback? How to Protect the Seller and Yourself in a Seller Carryback Transaction

Seller carryback financing is when the seller of a given property acts as a lender for a buyer on the seller’s property. The end result is that the buyer signs a promissory note to the seller, for the amount of the carryback with a set interest rate, set monthly payments, and a set time forRead More

Here are 3 reasons why real estate agents shouldn’t make representations about permits and how to more safely handl… Are you using home warranties that include the Seller's Protection Plan? The CRES Advantage Fidelity National 13-Mo…