Real Estate Horror Stories - The Long Game - Ep. #109

What would you do if your financing contingency passed and your $10,000 deposit went with it? In this episode of The Long Game Podcast, Ryan shares three real stories from the past year to mark Halloween: a buyer who lost an earnest money deposit, a near miss with vacant land fraud, and an investor stretched too thin. The goal is practical lessons you can use before the same thing happens to you. What You'll Learn: Why an underwriting-backed pre-approval protects you in ways a quick online pre-approval can’t What a financing contingency is, why the date matters, and how to protect your deposit if you’re not ready to commit Why your lender should flag your commitment dates before they arrive, and what to ask yours up front The warning signs of vacant land fraud, including a listing agent who has never spoken with the seller How to verify wire instructions by phone, and why the first 30 minutes after sending a wire matter most Why your numbers need to hold up in the worst case, not just the best case How much liquidity to keep on hand as an investor, and what one bad month looks like when an eviction, a boiler, and legal fees stack up If you’re buying a home, wiring money for a closing, or building a rental portfolio, this episode will help you spot the costly mistakes before they happen. Interested in connecting? HOST Ryan Richards | Branch Manager, Northpoint Mortgage | NMLS 1987735 [email protected] | www.financewithteamrichards.com  204 Turnpike Rd, Westborough, MA 01581 Licensed in CT, FL, MA, ME, NH, RI, NC, PA, TN, VT Follow us on Instagram @financewithteamrichards @the.longgamepodcast #TheLongGamePodcast #FinanceWithTeamRichards Chapters: 00:00 Halloween Money Nightmares 00:37 Preapproval Gone Wrong 02:06 Protect Your Deposit 03:23 Vacant Land Scam 05:00 Wire Fraud Warning 06:52 Overleveraged Investors 08:35 Stress Test Your Rentals 10:03 Get Help Early 10:35 Final Halloween Sendoff