HomeLight

OCTOBER 5, 2020

If the home is being foreclosed on, it’s likely because the owner couldn’t make the loan payments — not just once, but typically for about 120 consecutive days, or four months in a row — whether due to overwhelming debt, job loss, medical payments, or other reasons. And if so, how much of a discount can you expect?

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HomeLight

MAY 26, 2021

According to the National Association of Realtors®, only 22% of residential sales are cash sales, so it’s likely that you’re taking out a mortgage to finance your home purchase. This due diligence protects the lender in case you default and they need to recover their costs. Now it’s all about preparing for your closing.

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HomeLight

JUNE 18, 2021

Closing costs are a collection of fees related to buying a house, which are due on the official date of purchase (also known as closing). Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. We’re going to find out. Source: (S O C I A L.

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HomeLight

DECEMBER 31, 2020

The buyer’s financing with a lender. Most buyers will add a number of contingencies to the contract, such as the home inspection, appraisal, and financing contingency. What does “sale pending” mean? The sale pending period is one of three listing phases that your home will go through. You’re locked into the contract once you sign.

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HomeLight

JUNE 23, 2022

In this guide, we’ll outline the scenarios where you’re vulnerable as a seller, where you’re in the right to claim the earnest money due to the buyer failing to uphold their end of the contract, and what things you can do to protect yourself against the risk of a buyer pulling out at the last moment. What is earnest money?

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Housing Wire

MARCH 28, 2024

Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae. In 2022, the industry paid more than $596.1 million in claims. This is up from $474.4

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Housing Wire

APRIL 30, 2024

Additionally, the CFPB has shortsightedly questioned the benefits and cost of title insurance. It’s uncertain whether federal regulators are purposefully misleading Americans about the potential savings or just don’t understand how title insurance works. Title insurance is significantly different from other lines of insurance.

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HomeLight

APRIL 11, 2023

Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Santa Barbara area “we buy houses” companies should not be considered an endorsement. HomeLight always recommends doing your own research to determine which selling option is best for your situation.

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HomeLight

AUGUST 24, 2022

Disclaimer : This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of companies in this post do not constitute an endorsement. HomeLight always recommends doing your own research to determine which selling option is best for your situation. Request Offer.

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HomeLight

MAY 28, 2021

However, it’s vital to do your due diligence before buying a home as-is to protect yourself or you might just end up wasting your investment on a money pit. A seller may lack the resources or finances to complete repairs at the moment and doesn’t want to have that contingency to sell the home. Source: (Max Murauer / Unsplash).

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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

JUNE 4, 2023

The biggest business industry, real estate, is going digital at a rapid pace. Investors, brokerage firms, builders, and in fact, modern-day buyers or sellers, mostly millennials, prefer using online routes to manage and close transactions. This is where real estate digital data rooms come in handy. What is a virtual data room? Let's find out!

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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

AUGUST 16, 2021

There are also tax auctions , wherein the IRS has seized a home due to unpaid property taxes and is now attempting to recover losses. But if you’ll need financing, now is the time to talk with a lender. Many home auctions require full payment at the time of purchase, while others may allow a short grace period to finalize financing.

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HomeLight

JANUARY 5, 2022

Whether you have a mountain cabin, beach bungalow, ski slope condo, or beautiful home anywhere in the country, you’ve probably heard more than one visitor exclaim: “Wow! This place is gorgeous! If you ever decide to sell, please let me know.”. Well, that day has come. And, it turns out your friend is serious about buying your home. Find Agent.

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HomeLight

MARCH 13, 2023

Looking for cash home buyers in Orlando? Perhaps your Metro West resort-style condo isn’t bringing in the revenue you expected as a vacation rental and you don’t want to invest more money to list it on the market. Need to Sell Your House Fast in Orlando? Receive your offer within a week and close in as little as 10 days. million people by 2030.

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HomeLight

AUGUST 24, 2022

However, this buyer needs a mortgage to finance the deal, and that can take months. Do your due diligence. Disclaimer: A friendly reminder, information in this blog post is meant to be used for educational purposes only, not as a substitute for professional tax or legal advice. Sell Your Home As-Is With a Competitive Cash Offer.

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HomeLight

MARCH 22, 2022

I have some clients currently searching in the $200,000 range, and that seems to be a pretty modest budget, depending on location. There’s a house for everyone if you get creative in the searching process.”. North Carolina continues to stand out as a top destination for homebuyers. Real Estate. “I Source: (Gene Gallin / Unsplash).

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HomeLight

FEBRUARY 14, 2022

It’s not terribly common to rent-to-own because most of the people who are in the rental situation are those who, for whatever reason, can’t get financing the conventional way through a bank. Or, maybe the idea sounds so far-fetched you wonder if rent-to-own homes are even real in the first place — totally fair! Margaret Labus. Transactions.

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HomeLight

AUGUST 31, 2021

Clear title: The cash buyer will require a title search to make sure that you can convey the property free and clear of any clouds or judgments against the property, such as mechanic’s liens, unpaid taxes, or boundary encroachments. Plus, you’ll save money on things like commissions, repairs, and closing costs.”.

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HomeLight

MAY 24, 2022

He speculates that this is likely due to “the competition we’re facing now. Everyone involved will need time to perform their due diligence. Many companies combine title and escrow services under one roof, as their functions are closely interrelated. Why pay cash for a home? Why does it take this long?

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HomeLight

OCTOBER 29, 2020

Choosing a qualified agent and searching for the perfect home in terms of ideal size, location, price, and condition can already feel like a journey, but making an offer on a property is when the challenge really begins. Is it an understatement to say that buying a house can be a complicated process? Source: (JJ Badenhorst / Unsplash).

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HomeLight

MAY 27, 2021

Step 1: Prepare your finances. Before you can get a mortgage, you have to have your finances in line. But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. We’ve prepared this simple guide to lead you through the process, step-by-step. Source: (Matthew Henry / Burst).

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HomeLight

JULY 26, 2022

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? No…it’s a for sale sign!!! But this sign looks different from the real estate agent signs you usually see and it lists the homeowner’s contact information. What is a FSBO home?

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HomeLight

JULY 25, 2023

Sell Your House for Cash: Request an Offer Today HomeLight provides you with a convenient, no-obligation all-cash offer to buy your home, on your timeline. No repairs, no staging, no showings — and close in as little as 10 days. Request Offer However, selling a house for cash also usually means leaving some extra money on the table.

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HomeLight

SEPTEMBER 13, 2022

Using one of these options is prudent when selling to a family member since controlled transactions are typically watched more closely by lenders and the IRS due to a higher risk of fraud. DISCLAIMER: As a friendly reminder, this blog post is meant to be used for educational purposes only, not legal or tax advice.

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HomeLight

JULY 31, 2021

San Antonio, Texas, is already the seventh-most-populated city in the country, and each day, 66 more people join the party. Many are relocating from California, likely drawn by the lower cost of living and ample job opportunities, but others come from all over the country. A mix of out-of-state buyers flock to Alamo City.

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HomeLight

MARCH 16, 2023

But he expects this number to double over the next few months due to increasing call volume. Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston?

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HomeLight

JULY 31, 2021

Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy. What you have is a house. What you need is cash. If only there were a way to — poof! Motivated sellers. Value-add’.

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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

And now we present the 131 real estate terms you need to know—and be able to define for clients—in 2023: 1031 Exchange. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. The catch is that they must sell one property and buy a similar one within a set time frame. Active contingent.

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