The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. That could be a pretty sizable chunk of money from the seller’s profit.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

AUGUST 31, 2021

The most obvious contingency with an offer that requires financing is, of course, the financing itself. submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved. Though you can (and should!)

Due diligence 102

Due diligence Inspection Pre-approval Pre-qualification 102

Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. If something is wrong, you can request that it be fixed—or you can back out of the sale. Get final mortgage approval.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. CalHFA works through approved lenders, and buyers apply for the program through their loan officer.

Closing 113

Closing Earnest money deposit Sales Inspection 113

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 107

Inspection contingency Home sale contingency Pre-approval Agents 107

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. We had the pre-approval letter. We were pretty complete.

Agents 75

Agents Inspection Inspection contingency Pre-approval 75

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. We had the pre-approval letter. We were pretty complete.

Agents 98

Agents Inspection Inspection contingency Pre-approval 98