Down Payment
Any experience with a down payment funds boucing? For example, you are sitting with the tenant/buyer. They sign the L/O contract and give the $$ down payment usually in form of check. You signed the docs and give the keys.Should you ask for a bank certified check at paper signing for DP or do most get the down payment before this part to ensure the funds clear. As a TB I would be apprehensive about giving a check before the keys. Yes, you have screened this person, done credit & criminal checks, maybe even asked for 2 month bank records but they could have artificially gorged the account. I have seen it done with bank loans before.ANy feedback or words of wisdom?
Always ask for certified funds or money order unless you are meeting at their bank and you can verify it why you are there.
I always ask for certified funds....
Cert Check, M.O., Bank Transfer.
Will
[addsig]
As always, really appreciate the info