Realty Biz

DECEMBER 8, 2022

Most people need to get help from a lender to buy a home, and applying for a loan can be difficult at times. With a good credit history and a score that's above 700, you will more easily qualify for a loan and benefit from better rates and terms. We will look at the process of getting a mortgage for the first time. Build Your Credit.

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Loans Debt-to-income ratio Due diligence Title search 132

Realty Biz

JUNE 20, 2023

However, it requires a sound strategy and due diligence to find the best deals. Understanding Foreclosures Foreclosure is a legal process where a lender attempts to recover the balance of a loan from a borrower who has stopped making payments. Alternatively, you may need to consider hard money loans or cash.

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Due diligence Hard money loan Inspection Title 74

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. You think it’s almost too good to be true when you see one crucial caveat: It’s selling “as-is.” Red flags pop immediately into your head; you assume that can only be a nightmare.

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As-is Inspection Title search Inspection contingency 67

Realty Biz

OCTOBER 12, 2021

Although the immediate attention of any buyer goes towards the financial aspects, like loans and credit history, it is instrumental to thoroughly understand how to verify the history of the house you intend to buy. Real Estate agents refer to this as the due diligence period in real estate. The US Realty Records.

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Due diligence Title search Land Title 137

Realty Biz

SEPTEMBER 14, 2023

Some of their key responsibilities include: Reviewing and preparing legal documents Ensuring the clarity of title and title insurance Facilitating the transfer of funds Resolving legal disputes Importance of Hiring a Real Estate Attorney Hiring a real estate attorney is crucial to protecting a buyer's interests.

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Purchase and sale agreement Title search Title Due diligence 99

Realty Biz

JUNE 15, 2022

Performing due diligence is vital when purchasing a home. Things to Find Out Before Purchasing Land. It is even more crucial when buying a building lot. Buying land can be an exciting and profitable investment. However, it is important to ask questions and get advice before making a purchase. What to Ask Before Buying a Piece of Land.

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Land Purchase and sale agreement Due diligence Title 126

HomeLight

MAY 27, 2021

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 include advice from an agent who has worked with hundreds of new buyers, descriptions of different loans, and information about the many kinds of paperwork you’ll deal with. Source: (Matthew Henry / Burst).

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Loans Mortgages Title FHA loan 78

HomeLight

DECEMBER 23, 2021

Perhaps the biggest myth is that the title to a home is an actual document stored in a drawer somewhere. So here’s a brief overview to keep the meanings straight when you buy or sell a home: Title is an abstract concept describing someone’s right to legal ownership and use of a property, including the right to sell it. Find Agent.

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Title Title search Bankruptcy Due diligence 107

HomeLight

OCTOBER 30, 2020

Maybe you aren’t using a loan, but you can still run into cash flow issues. Real estate contract contingencies are commonly associated with getting a mortgage, as lenders tend to do their due diligence on a property before they’ll put up the money for it. But is the cash closing process always seamless? Because it’s fast.

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Closing Inspection contingency Title search Purchase and sale agreement 107

HomeLight

JULY 25, 2023

When you sell a house for cash, it simply means that you sell to a buyer who can purchase the home outright without the use of a mortgage loan. 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. What does it mean to sell a house for cash?

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Title search Staging Closing costs Title 78

Realty Biz

JANUARY 10, 2021

In a nutshell, a reverse mortgage is an excellent loan product for seniors. The home should be your main residence, and if you have a mortgage on the property, it has to be paid off from the proceeds of the reverse loan. What is a Reverse Mortgage? Are you wondering if a reverse mortgage might be right for your present circumstances?

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Mortgages Due diligence Equity Title search 110

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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Due diligence Closing costs Earnest money deposit Loans 83

HomeLight

MAY 24, 2022

He speculates that this is likely due to “the competition we’re facing now. But just how long does it take to close on a house with cash, compared to a traditional loan? Everyone involved will need time to perform their due diligence. The bulk of the time, however, is consumed by loan underwriting and processing.

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Purchase and sale agreement Closing Title search Title 99

HomeLight

APRIL 30, 2021

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. Because of the due diligence involved with issuing mortgages, it takes a lot longer to close on a home with one.

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Due diligence Finance Proof of funds Earnest money deposit 97

HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. 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). Mortgage loan costs. We’re going to find out. Here’s a breakdown.

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Closing costs Closing Mortgages Title 103

Point2Homes

DECEMBER 7, 2020

Lenders will normally look at your debt-to-income ratio to determine whether you qualify for a loan. It’s always advisable to get pre-approved for a mortgage in any home purchase so you can make sure that you can actually get the loan that you believe your income justifies. Image: Andy Dean Photography / Shutterstock.com.

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Debt-to-income ratio Pre-approval Inspection Inspection contingency 118

Redfin

MARCH 3, 2022

It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved. Most title companies and attorneys don’t accept personal checks over $500, sometimes less.

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Closing Title search Purchase and sale agreement Title 63

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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Pre-approval Purchase and sale agreement Title search Title 101

Realty Biz

SEPTEMBER 25, 2023

Risk mitigation: By conducting thorough due diligence, a real estate attorney can identify potential risks and help you make informed decisions, minimizing the chances of future legal complications. Are you looking for a real estate lawyer? These legal professionals specialize in real estate transactions, protecting your interests.

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Due diligence Purchase and sale agreement Title Title search 82

HomeLight

SEPTEMBER 13, 2022

It will determine whether or not the buyer needs to acquire a loan and/or what sort of taxes the seller may face once the deal is complete. 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.

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Purchase and sale agreement Title Title search Finance 88

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. 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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Backup offer Sales Home sale contingency Earnest money deposit 110

HomeLight

AUGUST 16, 2021

Given the various types of mortgages that are available, the auction process may differ depending on whether the loan on the house up for auction was government-backed or a conventional loan. There are also tax auctions , wherein the IRS has seized a home due to unpaid property taxes and is now attempting to recover losses.

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Title Due diligence Finance Inspection 106

HomeLight

AUGUST 31, 2021

Fast-forward to closing: Without a lender’s involvement, there will be no lender-ordered appraisal or loan processing period, which as of June 2021 averaged 51 days , according to a report from Ice Mortgage Technologies. Plus, you’ll save money on things like commissions, repairs, and closing costs.”. Are cash-for home companies legit?

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Proof of funds Investor Due diligence Closing 144

HomeLight

OCTOBER 5, 2020

When a home goes up for auction, there’s usually at least one financial claim on the house, usually by the lender who’s been trying to collect on the home loan. 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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Due diligence Earnest money deposit Banks Inspection 53

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.

Sales 77

Sales Investor Due diligence Renovation 77

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. These are often loans in the form of a second mortgage with their own interest rates and payback requirements.

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Earnest money deposit VA loan FHA loan Loans 86

HomeLight

MAY 26, 2021

That means that between the time your offer is accepted and the day you close on your home, you and your lender will be in frequent contact as they review your finances and prepare your loan. Simply put, they want to make sure your new home is worth the loan they’re providing. Now it’s all about preparing for your closing.

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Inspection Residential Due diligence Title search 89

HomeLight

FEBRUARY 14, 2022

If you’ve heard of rent-to-own homes but haven’t given them much thought, you’d be forgiven for assuming that there must be a huge catch to make the whole thing work. Or, maybe the idea sounds so far-fetched you wonder if rent-to-own homes are even real in the first place — totally fair! Currently accepting new clients. Years of Experience.

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Purchase and sale agreement Due diligence Finance Equity 78

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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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 77

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death).

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Closing Purchase and sale agreement Title Home sale contingency 102

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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Earnest money deposit Purchase and sale agreement Title Inspection 90

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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Sales Purchase and sale agreement Earnest money deposit Investor 63

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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Investor Title Due diligence Sales 100

HomeLight

DECEMBER 7, 2021

It can necessitate a lot of preparation and cause a certain amount of anxiety, but a home inspection is an important part of the process when you’re selling a home. But what’s inspected? How can you prepare? And after the home inspection, what next? Try to look for what home inspectors look for. Provide access. Clean house. Label the fuse box.

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Inspection Purchase and sale agreement Pre-approval Closing 83

HomeLight

JULY 31, 2021

What you have is a house. What you need is cash. 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. If only there were a way to — poof! Absent a magic wand, you do have the means to get cash for your home in quick order. Value-add’.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

Redfin

APRIL 13, 2022

You can also do a title search, by going through a title company , to ensure there are no extraneous liens on the property and that you’re working with the actual owner of the property deed, and that the property taxes are up to date. . As a renter, you’ve probably heard of “rent-to-own homes” or maybe “rent-to-own programs.”

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Purchase and sale agreement Equity Mortgages Due diligence 67