HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 98

Realty Biz

APRIL 17, 2023

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. It is held in escrow until closing or until the buyer or seller terminates the contract.

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HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. Average time to close. Does cash speed up closing?

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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” How it can delay closing. Easy, right? Yeah, not so much.

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Realty Biz

JANUARY 9, 2024

From preparing your home for sale to negotiating offers, these tips will ensure a successful sale. From nearly forty years experience being a Realtor, many home sellers make significant mistakes that cost them money. Sometimes it stops their sale dead in its tracks until the errors are corrected. Things have evened out.

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Point2Homes

JANUARY 31, 2023

Making an attractive offer is crucial, especially in a hot market. Finally, research the local market when you’ve found the home you want to buy. Check out comparable properties to make sure that the sale price is fair or whether there’s a little wiggle room to negotiate.

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Earnest money deposit Purchase and sale agreement Pre-approval Inspection 98

Realty Biz

JULY 11, 2022

When you set out to purchase a home as buyer you will eventually find a property you love. At that point, you’ll sit down and construct on offer to purchase. The offer will spell out all of the common terms and conditions such as the offer amount, what you’re financing, any contingencies, and the closing date.

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Realty Biz

JULY 1, 2023

Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. The National Association of Realtors (NAR) conducted a survey in October 2022, revealing that approximately 7% of deals in the preceding three months got terminated before reaching the closing stage.

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Purchase and sale agreement Earnest money deposit Title search Pre-approval 75

Realty Biz

APRIL 20, 2022

What to Know About Terms and Conditions Found in an Offer to Purchase. It will state your offer price and many other clauses that could be crucial to the success of the purchase. Common Contingencies Found in an Offer to Purchase. The language in the offer to purchase will allow you to escape the sale with your money back.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 105

Realty Biz

AUGUST 8, 2022

There will be an offer to purchase written when a buyer formally makes an offer. In seven to fourteen days a purchase and sale agreement will be signed by buyer and seller. More often than not, a real estate attorney will be heavily involved in the drafting and negotiating of the purchase and sale or P&S for short.

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Realty Biz

MARCH 27, 2022

If you are trying to buy a home in a seller’s market, offering the asking price may not be enough. Housing markets across the country have been disrupted due to a number of factors including the Covid-19 Pandemic. In a seller’s market, you are more likely to need to bid above the asking price to be successful.

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Purchase and sale agreement Earnest money deposit Seller concession Finance 116

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

SEPTEMBER 14, 2023

They have a comprehensive understanding of real estate laws and regulations, which allows them to identify any potential issues or risks associated with a property purchase. Let's explore the different parties: Buyers Real estate attorneys work closely with buyers to navigate the complex legal aspects of purchasing a property.

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Realty Biz

DECEMBER 5, 2022

The crazy hot seller's market forced many home buyers into forgoing their inspection. Things are starting to change in many real estate markets around the country. Instead of markets dramatically favoring sellers, they are becoming more balanced. The buyer can have their earnest money deposit returned when this happens.

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RIS Media

MAY 19, 2021

However, this is just the start with many things to do before the status changes to “Closed.” ” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. Not all sales will have contingencies with them, but most will.

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Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

First Team Real Estate

AUGUST 8, 2021

According to the latest National Association of REALTORS® Profile of Home Buyers and Sellers, the typical home sold last year was on the market for just three weeks. Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars.

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HomeLight

JUNE 28, 2021

Why do some offers have one price on the purchase agreement and another price on the escalation addendum? In competitive seller’s markets , some buyers will strengthen their offer with an escalation clause. But even in a strong seller’s market, mishandling offers with escalation clauses can backfire.

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Earnest money deposit Purchase and sale agreement Pre-approval Pre-qualification 68

HomeLight

NOVEMBER 29, 2021

You’ve found the house of your dreams, your offer has been accepted, and you’re ready and eager to reach the closing table. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. No worries — these are all normal parts of the process!

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 90

HomeLight

AUGUST 30, 2021

Or maybe, you signed a purchase agreement with a real estate agent and have heard nothing but crickets since. Did they suggest how to improve your home’s appearance to enhance its marketability? Does your agent have a comprehensive marketing strategy for your home? Source: (Surface / Unsplash).

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HomeLight

JANUARY 3, 2023

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Real estate transfer taxes: 0.01%.

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HomeLight

APRIL 28, 2023

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. That 6% is deducted from the seller’s proceeds at closing.

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HomeLight

SEPTEMBER 1, 2022

Once you have the purchase agreement in hand, you might think there are no more obstacles in your way, but the home still has to appraise for the amount you agreed to pay for it. Before the pandemic created a hot market, about 8% of appraisals came in lower than the offer on the home. What is a low appraisal?

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HomeLight

JANUARY 10, 2023

The median price of a California home hit $777,500 in November 2022 , which is a 3% decrease from the previous month, a sign that higher interest rates are slowing the real estate market in California. Moreover, homes are sitting on the market for longer and inventory is increasing. Average time on market: 24 days (November 2022).

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CT Homes

OCTOBER 30, 2020

In many markets property values have taken off to levels not seen in well over a decade. Depending on your financial situation and the growth of your market it may be a great time to explore cashing out and selling your home. The longer a buyer has been investing the more likely they are to close! Earnest Money Deposit.

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CT Homes

OCTOBER 30, 2020

In many markets property values have taken off to levels not seen in well over a decade. Depending on your financial situation and the growth of your market it may be a great time to explore cashing out and selling your home. The longer a buyer has been investing the more likely they are to close! Earnest Money Deposit.

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HomeLight

OCTOBER 17, 2022

HomeLight’s free Agent Match platform can connect you with a top-performing agent in your market who can help you navigate your entire home-selling journey — from disclosures to closing. Before entering into a purchase agreement, the seller must inform the buyer of any known lead-based paint hazards in the home.

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Purchase and sale agreement Due diligence Earnest money deposit Inspection 89

HomeLight

MARCH 31, 2022

The seller’s market continues to boom in Florida. Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% drop in median time on the market. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Florida. Get Started.

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Redfin

MARCH 2, 2023

Regardless of your experience, navigating the housing market can be daunting, especially when it comes to understanding the complex jargon and legalities involved in purchasing a property. When a buyer applies for a mortgage to purchase a home, the lender requires an appraisal of the property to determine its fair market value.

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Purchase and sale agreement Earnest money deposit Finance Inspection 56

HomeLight

MARCH 31, 2022

price increase , pushing median sale prices to upward of $350,000. With such impressive sales figures, some sellers may be curious about how to sell a house by owner in Arizona — a decision that could help them save on agent commissions. Median sales price: $449,900 (Feb. Average days on market : 36 (April 2022).

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Purchase and sale agreement Inspection MLS Inspection contingency 87

Redfin

MAY 26, 2021

Escrow starts with your purchase offer on a home and ends when you close on the house. This is a contractual agreement that begins after you close on your home and ends once you’ve paid off your mortgage or refinance with another lender. When you and the seller sign the contract, you put down a deposit.

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HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. You’re hesitant to put all of your proverbial eggs in one buyer’s basket when the sale might never actually happen. This is called the “home sale” contingency.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 55

Redfin

MAY 5, 2023

An overview of the Texas housing market The Texas housing market is rich in diversity, with plenty of options to suit different budgets and lifestyles. However, due to the recent hike in mortgage rates, the market has experienced a slight decline, with median sale prices dropping by 2.5%

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HomeLight

JUNE 23, 2022

In many cases, if a homebuyer wants to back out of a contract and retrieve their earnest money, they’ll be able to find a way to do so within the confines of the real estate purchase contract. The typical amount is around 1% of the purchase price (ex. $5k Is earnest money refundable? 5k for a $500K home).

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Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 107

HomeLight

AUGUST 11, 2023

Now that you have a purchase offer in hand, you’re in the home stretch, so to speak, of selling your house — but don’t sign the paperwork or pop the champagne just yet. Find a top real estate agent near you We analyze millions of home sales to find real estate agents that sell homes faster and for more money.

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Purchase and sale agreement Earnest money deposit Residential New Construction 80

HomeLight

JUNE 13, 2022

Our Summer 2022 Top Agent Insights Survey is out now, and it shows how the real estate market is changing. is not what the housing market is going through. And those of you who responded are in agreement. You’ll hear them share stories of what’s happening in their markets. Homes are getting fewer offers.

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Marketing Agents Equity Earnest money deposit 71

HomeLight

JUNE 29, 2022

Before you post the “for sale” sign in your front yard, it’s important to prepare yourself for a critical part of the home-selling process : negotiating with buyers. The good news is that with a little planning and forethought, you can sit at the closing table with confidence, knowing your best interests are represented. Transactions.

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HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent.

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Earnest money deposit Purchase and sale agreement Title Inspection 94