buyer defaults on home purchase

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Home Buying: What does it mean for a buyer to default. – What does it mean for a buyer to default? Asked by InettA, Battle Creek, MI Mon Nov 14, 2011. My husband and I were going to build a new home in a subdivision in our area. We signed papers in June stating that in March we would have the down payment and we could begin construction at this time.

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Seller's Remedies When Buyer Defaults – Realty Times – Buyer Default. If the buyer defaults, generally the seller has three alternative remedies: Keep the earnest money deposit. A potential buyer who signs a real estate contract generally gives the title attorney or the real estate agent between 5 and 10 percent of the purchase price. This is referred to as the "earnest money deposit".

Emerging Fraud Trends: Short Payoff Fraud – Freddie Mac – Emerging Fraud Trends: Short Payoff Fraud. Given increased defaults and declining property values in certain locations, the mortgage industry is experiencing an.

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Does a home seller have to notify me before cashing my. – My offer to buy a new home was just accepted by the seller a week ago. The contract stated that I was to put up $3,000 in earnest money. After the seller accepted the offer, my real estate agent delivered a check for $3,000 to the seller as my earnest money and to show my good faith. I was shocked.

what is a good ltv What Is a Good Loan to Value Ratio? | Sapling.com – A good LTV shows you have equity in your home. While the benchmark standard for a conventional loan is 80 percent, a good LTV can be as high as 100.

If Your Buyer Defaults, What Are Your Rights? – Realty Times – If Your Buyer Defaults, What Are Your Rights?. Answer: Your sales contract should spell out what rights and remedies you have if your buyer is in default. But first, you have to make absolutely sure that there is a default.. or getting a favorable home inspection report. While the buyer is.

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