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September 2015 Archives

Post possession occupancy is increasingly common - How can a buyer protect themselves?

Homeowners are almost always faced with a dilemma when coordinating the timing of their sale with their new purchase. If they are able to close on their new purchase first, they can then take some time to move into their new home before they close on their sale. However, most buyers will need the money from their sale to close on their new purchase. Also, the new lender may require proof they have received the funds from their sale. The lender may also require proof that the mortgage from their old home has been paid off. 

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