First Timers, Buying Resale

[PrincessNelly]

We are looking at purchasing a OKW resales contract and financing through Monera.
We plan to pay it off within 6 months but I'm just unsure of how the process works.
Once we secure a contract, do we pay both the broker deposit & Monera deposit at the same time? Or does Monera not take the deposit until the contract has passed ROFR?

 

[FFMickey]

You pay the deposit to the title company. Monera will then decrease that amount from your loan amount.

 

[PrincessNelly]

You pay the deposit to the title company. Monera will then decrease that amount from your loan amount.

Awesome. Thank you

 

[DonMacGregor]

We are looking at purchasing a OKW resales contract and financing through Monera.
We plan to pay it off within 6 months but I'm just unsure of how the process works.
Once we secure a contract, do we pay both the broker deposit & Monera deposit at the same time? Or does Monera not take the deposit until the contract has passed ROFR?

You can also reach out to @Amy Krieger with any questions.