Things to look out for when closing for a cash offer

[Jason Chen]

Hi, I am making a cash offer with short close time (5-7days). The seller asked for a 3k non-refundable deposit, and I only get this back if the title company cannot provide clean and clear title for us to close. Just wondering, are there anything else I should look out for closing, besides the clean and clear title? 

Thanks,

Jason

[Terry Lao]

@Jason Chen

Congrats on finding a property. 

Due to an all cash transaction, the initial risk is the deposit. Need to make sure you are wiring to a legitimate escrow company. Find all the information on escrow company and talk with the escrow officer, confirm contact information, confirm physical location. 

Second risk is the transfer of remaining funds. Make sure transfer information is correct and not at last minute changed to different instructions.

http://www.chicagotribune.com/classified/realestat...

What city did you settle on?  Last was Stockton or Las Vegas.

Terry