From the course: Real Estate: Navigating the Multiple Listing Service (MLS)
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Understand offer requirements
From the course: Real Estate: Navigating the Multiple Listing Service (MLS)
Understand offer requirements
- [Instructor] Know the different requirements for submitting offers depending on the type of listing. REOs or bank owned, short sales, government, or private sellers may have different offer requirements. When submitting offers to agents for MLS properties, you will need to write an earnest money deposit check. Usually, you can scan and send them a digital copy of the check made out to the title company or to the real estate brokerage trust fund. Never make your earnest money check payable to the seller. Generally, you will also need a proof of funds or pre-approval letter to accompany your cash offer. For hard money lender funding, you can get a proof of funds from the hard money company. For private money lending, you can complete a simple proof of funds letter signed by your lender. Remember to create a template for this.
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