CT Homes

NOVEMBER 24, 2020

When a buyer submits a “Non-Contingent” offer, they are essentially forfeiting any and all of their privileges to perform due diligence on a property they’re interested in. At face value, working with cash buyers should be easy and simple. Cash, As-Is, no appraisals….easy easy peasy!

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Redfin

MARCH 12, 2021

As you close in on making an offer on a home, your real estate agent – or the seller’s agent – will ask about “earnest money.” Earnest money is a type of security deposit, also known as a “good faith” deposit, offered to show the seller of a home that you’re serious about purchasing the property.

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Realty Biz

FEBRUARY 20, 2021

Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. Obtaining financing: allows the purchaser to get the funds to buy the property from a lender of their choice. Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works?

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Redfin

JUNE 21, 2023

From relationship building to conducting due diligence, you’ll be equipped with the knowledge and strategies to enter the world of real estate investing and buy your first investment property with ease. If so, you’re in luck because this Redfin article is tailor-made just for you. Let’s get started!

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CT Homes

MAY 29, 2020

Contingency periods should not be unnecessarily long, and should fall in the range of 3 to 10 days depending on the complexity of any necessary due diligence. The earnest money deposit should be substantial and submitted to escrow within 72 hours of offer acceptance or sooner. Access to Capital.

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Realty Biz

NOVEMBER 11, 2020

They will also get their earnest money deposit back , and the home will go back on the market. Lenders don’t want to loan more money than the property is worth since this will leave them in a losing position if the home goes into foreclosure. You’ll see an explanation of both a little bit later.

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HomeLight

OCTOBER 5, 2020

You definitely don’t want to overpay, especially considering you might need to pour a lot of money into repairs and other problems once the home is yours. If you’re buying a house with cash , it makes sense to try to get as good a deal as you can — and that’s where auctions come in. And if so, how much of a discount can you expect?

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Realty Biz

SEPTEMBER 14, 2023

Their responsibilities vary depending on the buyer, seller, or lender involved, as well as state requirements and complexities of the transaction. Hiring a reliable real estate attorney is essential for a smooth and legally sound transaction. I have written about what real estate attorneys do for sellers. Now, we will focus on buyers.

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HomeLight

JUNE 23, 2022

If you need assistance navigating the legalities of keeping earnest money from a real estate transaction, HomeLight always encourages you to reach out to your own advisor. What is earnest money? Earnest money is often referred to as a “good faith” deposit. 5k for a $500K home).

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HomeLight

APRIL 19, 2021

Being able to afford a home in this swanky NYC borough means enjoying unparalleled access to the world’s preeminent nexus of culture, cuisine, architecture, and finance. to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits.

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HomeLight

JUNE 9, 2023

If a buyer asked you to front them the money to buy your house from you, you’d think they were crazy. Believe it or not, there are actually home sellers who offer to loan buyers the money to purchase their property: it’s called owner financing. Learn More What is owner financing? Step one: Talk to an expert!

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HomeLight

JULY 26, 2022

Knowing that they will save money by not paying the listing agent’s commission, a seller might list their home at a lower price than they would if they had hired an agent. You’re driving around a neighborhood you love, and then up there in the distance, you see a sign in a yard. Is it a yard sale? A political sign? A contractor’s information?

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HomeLight

AUGUST 9, 2022

With the help of real estate experts, we’re breaking down all the details for how much you should pay and when the down payment is due. When is the down payment due? But that doesn’t mean the money will leave your account just yet. To make a long story very short, your down payment is officially due at the time of closing.

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Realty Biz

SEPTEMBER 4, 2023

Wholesale Properties Another way to get started with little money is to wholesale real estate deals. What it doesn’t take is much money. You only need to put a small amount down as an earnest money deposit, and you get that money back either when the deal closes or if you put contingencies in place for it.

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HomeLight

APRIL 30, 2021

Buyers using financing and putting down 20% or more. Buyers using financing and putting down between 10% and 19%. Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction.

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HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common. Financing issues. Why do sellers love cash so much?

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Realty Biz

MAY 24, 2021

Another way to get started with little money is to wholesale real estate deals. What it doesn’t take is much money. You only need to put a small amount down as an earnest money deposit , and you get that money back either when the deal closes or if you put contingencies in place for it. Wholesale Properties.

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HomeLight

MARCH 22, 2022

North Carolina continues to stand out as a top destination for homebuyers. Who doesn’t love the charm that popular Netflix shows (we’re looking at you, Outer Banks ) make us weep to call home? But the property prices in the state may make you weep for a different reason. Real Estate. “I Source: (Gene Gallin / Unsplash).

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HomeLight

OCTOBER 29, 2020

That’s why financed offers come with appraisal contingencies — the loan can’t clear until the home has been appraised and the lender knows they’re not lending you too much for the home. Is it an understatement to say that buying a house can be a complicated process? Source: (JJ Badenhorst / Unsplash). What is a contingent offer?

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HomeLight

MARCH 16, 2023

The newbie with little experience doesn’t have the money to keep it long term. It takes a lot of money to fix the house and keep it with holding and carrying costs,” Ramcharitar points out. But he expects this number to double over the next few months due to increasing call volume. Need to Sell Your House Fast in Houston?

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HomeLight

MAY 24, 2022

If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. He speculates that this is likely due to “the competition we’re facing now. Everyone involved will need time to perform their due diligence. Why pay cash for a home?

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HomeLight

JULY 31, 2021

The bills are stacking up or perhaps you lost some income recently, and the money tied up in your home would help a ton at a time like this. turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. What you have is a house. What you need is cash.

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HomeLight

SEPTEMBER 1, 2022

Determining how much you can afford in California isn’t as easy as it is in some other states due to special considerations such as additional homeowners insurance and Mello-Roos facilities districts. Some programs available to low-to-moderate income homebuyers and first-time homebuyers include: Golden State Finance Authority (GSFA).

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The Close

DECEMBER 29, 2022

Since an ARM’s interest rate fluctuates over time depending on various market factors, there are some experts who believe they save borrowers money in the long run. And now we present the 131 real estate terms you need to know—and be able to define for clients—in 2023: 1031 Exchange. Active contingent. Sure, deals can fall apart.

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