HomeLight

MARCH 2, 2023

With tips on everything from how to save for your down payment, specific loan programs for buyers, and what you should look for in an agent, we’ve got you covered. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

Closing 87

Closing Earnest money deposit Sales Inspection 87

The Close

FEBRUARY 6, 2024

They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. That may sound like a lot to add, but when your buyers roll it into their mortgage, it should not change their monthly payment so much that it prevents them from qualifying for their loan.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

MARCH 20, 2023

Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period. Offer to pay the seller’s closing costs. Flexibility shows good faith.

Home sale contingency 83

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 83

HomeLight

APRIL 21, 2022

Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. According to a 2021 National Association of Realtors® survey, financing difficulties were responsible for 29% of closing delays and 10% of terminated contracts.

Inspection contingency 101

Inspection contingency Home sale contingency Pre-approval Agents 101

HomeLight

AUGUST 31, 2021

A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. The inspection.

Due diligence 73

Due diligence Inspection Pre-approval Pre-qualification 73

HomeLight

OCTOBER 12, 2020

She talked about the five parts of an offer: price, earnest money, down payment, close date, and what she calls the miscellaneous bucket. That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. I’ve gonna give them free rent back.

Agents 96

Agents Inspection Inspection contingency Pre-approval 96

HomeLight

MARCH 22, 2021

She talked about the five parts of an offer: price, earnest money, down payment, close date, and what she calls the miscellaneous bucket. That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. I’ve gonna give them free rent back.

Agents 68

Agents Inspection Inspection contingency Pre-approval 68