Realty Biz

JANUARY 15, 2024

It's important to note that eligibility for a bridge loan will depend on factors such as your creditworthiness and the equity in your current home. One option is obtaining a home equity line of credit (HELOC) on your current property. To do this, you can start by researching recent sales of similar properties in your area.

Pre-approval 105

Pre-approval Purchase and sale agreement Finance Equity 105

HomeLight

DECEMBER 27, 2023

Unlock Your Equity Faster With a Cash Offer Consider going through HomeLight’s Simple Sale platform to access the equity of your existing home quickly. Once you know your payoff amount, you can use this simple home sale proceeds formula to better understand how much money you’ll make at closing.

Pre-approval 107

Pre-approval Mortgages Equity Principal 107

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 103

Equity Finance Loans Closing costs 103

RIS Media

DECEMBER 14, 2020

Cyclone of Sales Activity Intensity. In central Puget Sound, the velocity of the housing market is in tight rotation, with the sales activity intensity for each new listing going under contract at a frenzy level and higher for most price ranges and areas. Mid-June: The number of sellers increased to pre-COVID seasonal levels.

Sales 98

Sales Pre-approval Equity Marketing 98

Housing Wire

APRIL 22, 2024

I would be happy to give you an equity analysis and let you know how much equity you have in your home. You’ll want to include the list price, sale price, and days on market. Your neighbors at (address) just sold their property for (sale price). I’m sure you’ve seen the for sale sign in the yard at (address).

Brokerage 374

Brokerage Investor Agents Pre-approval 374

Keeping Current Matters

JULY 13, 2021

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), inventory levels have been rising since February of this year. months’ supply of homes for sale. Getting pre-approved can show the seller you’re serious and help you know what you can afford. Currently, there’s roughly a 2.5

Marketing 262

Marketing Pre-approval Equity Agents 262

Marco Santarelli

MAY 18, 2024

Their presence in the market is increasing, making up 32% of sales in March 2024, compared to 28% the year before. The share of all-cash sales has dipped slightly in recent months, but remains significant at 28%. Existing-home sales have dipped slightly, but prices remain on the rise. Cash vs. Mortgage: Who's Buying?

Pre-approval 111

Pre-approval Investor Equity Mortgages 111

Real Trends

DECEMBER 27, 2022

How often does a pending home sale fall through? A pending sale may be referred to as “under contract” by some real estate agents. A sale is considered pending until the seller formally accepts an offer from a buyer. It should be reassuring for all real estate agents that not many home sales fall through.

Sales 60

Sales Home sale contingency Pre-approval Inspection 60

Marco Santarelli

OCTOBER 22, 2023

In the past, the down payment requirement for multi-family homes was a substantial 15%-25% of the property's sales price. Additionally, the removal of the FHA self-sufficiency test for 3-4 unit properties simplifies the pre-approval process for multifamily housing.

Loans 98

Loans Pre-approval Principal Mortgages 98

CT Homes

FEBRUARY 13, 2024

Cons : Possible need for temporary housing if there’s a gap between sales. Review your savings, equity in your current home, and your ability to manage two mortgages, if it comes to that. Prepare your home for sale by decluttering, making necessary repairs, and staging it to appeal to potential buyers.

Pre-approval 75

Pre-approval Inspection Mortgages Staging 75

Marco Santarelli

SEPTEMBER 22, 2023

According to the National Association of Realtors , home sales fell 2.2 Additional signs of a housing bubble: A decline in the inventory of homes for sale: A low inventory of homes for sale can drive up demand and contribute to a housing bubble. percent from June 2023 to July 2023, and the decline since July of last year was 16.6

Pre-approval 98

Pre-approval Fixed-rate mortgage Lending Equity 98

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.

Purchase and sale agreement 111

Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 111

Realty Biz

AUGUST 12, 2023

Equity : The difference between the current market value of your home and the amount you owe on your mortgage. As you pay down your mortgage or if the value of your home rises, your equity increases. This is usually done to get a better interest rate or to take cash out of home equity.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Marco Santarelli

MAY 2, 2024

This simple principle of supply and demand is precisely why a crash , fueled by an abundance of for-sale homes, is unlikely in 2024. The Federal Housing Finance Agency (FHFA) reports that the average credit score for a conventional mortgage in 2023 was 740, a substantial increase from the pre-crash era [FHFA].

Pre-approval 52

Pre-approval Marketing Lending Mortgages 52

Realty Biz

MARCH 30, 2023

Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Be sure to have all of your documentation in order and ready to go before starting the pre-approval process. that may help you get approved with favorable terms.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

Sales 103

Sales Purchase and sale agreement Due diligence Inspection 103

Real Trends

JUNE 8, 2023

Taylor spent more than nine years at Zillow in sales and strategy and more than three years at Modus. In February, the company launched “ Equity Unlocker ,” which allows employees to pledge vested stock equity as collateral for a down payment in a mortgage without selling their stock.

Agents 85

Agents Pre-approval Equity Mortgages 85

Realtor.com

NOVEMBER 28, 2022

The good news for home sellers is that over the past year, demand for homes has driven prices through the roof, pushing home equity to record levels. ” Still, it’s worth noting that some home sellers might be able to justify and absorb the higher interest rates since their home sale will likely bring a windfall of cash.

Marketing 119

Marketing Pre-approval Equity Finance 119

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. The fee, usually 0.3 – 1.5

Pre-approval 82

Pre-approval Pre-qualification Title search Inspection 82

RIS Media

JUNE 2, 2021

” With the expansion, John L Scott can answer for the consumer: “How much equity do I have?” ” “What can I do with the sale proceeds?” ” “Where can I get pre-approved for my next home?”

Pre-approval 97

Pre-approval Lending Loan Officer Equity 97

Point2Homes

SEPTEMBER 30, 2021

Real estate transactions often feature contingency clauses that allow both parties to back out of the sale under the circumstances stipulated in the contract. One common type you’ll encounter is a sale and settlement contingency. The Buyer Is Not Pre-approved for a Loan. Cash Purchases.

Pre-approval 98

Pre-approval Proof of funds Inspection contingency Due diligence 98

HomeLight

AUGUST 31, 2021

The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default.

Pre-approval 107

Pre-approval Short sale Banks Finance 107

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. Home Loan program.

VA loan 89

VA loan Purchase and sale agreement Short sale Pre-approval 89

Housing Wire

AUGUST 23, 2023

When asked how relevant this business will be, Garg refers to Amazon , a company that drives two-thirds of its sales from third-party sellers. “We Flávia Nunes: Better took nearly two years to go public, with Aurora’s shareholders’ merger approval extended three times. We aim for a similar mix.”

Debt-to-income ratio 366

Debt-to-income ratio Technology Mortgages Pre-approval 366

HomeLight

JULY 25, 2022

One of the world’s oldest sales maxims remains especially relevant in real estate transactions. Their findings can sometimes be the difference between an amicable sale with an on-time closing and contentious negotiation which results in the buyers walking away — after the house has been taken off the market. Caveat emptor.

Inspection 107

Inspection Pre-approval Loans Finance 107

Realtor.com

JULY 9, 2021

The couple lived in a third-floor apartment with their two children in a pre-war building they loved on Manhattan’s Upper West Side. We kept it in the pre-war style of the building, so we maintained its spirit, but everything is modern and new.”. That’s what Praneet Gill, chief strategy officer at a tech startup, and her husband did.

Pre-approval 94

Pre-approval Renovation Finance Construction 94

Realtor.com

JANUARY 2, 2023

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

New Construction 105

New Construction Construction Pre-approval Inspection 105

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction). No problem!

Pre-approval 103

Pre-approval Pre-qualification FHA loan Inspection 103

HomeLight

SEPTEMBER 30, 2021

When the appraisal comes in lower than your offer price, it’s either an opportunity for you to renegotiate the sales price with the seller — or it’s going to completely derail your home sale, and you’ll have to start over again. Updated September 30, 2021. Now, what should you do if that happens? Option 2: Find a new lender.

Pre-approval 98

Pre-approval Seller concession Finance Banks 98

HomeLight

JANUARY 29, 2021

Run a title search to surface liens or judgments attached to the property, such as unpaid taxes, a home equity line of credit, or a reverse mortgage. Because no court approval is required, you can sell the property immediately or at any time,” he comments. See what a cash buyer would offer for your home with HomeLight’s Simple Sale.

Pre-approval 107

Pre-approval Title Renovation Title search 107

HomeLight

AUGUST 25, 2020

The overarching question, as you make your way down your pre-sale checklist , is likely something along the lines of: “How long is this going to take?”. Your sale could be different. Every house, every market, and every individual sale will vary in terms of days on market and closing timelines.

Closing 117

Closing Pre-approval Inspection Days on market 117

HomeLight

DECEMBER 8, 2023

If you’re juggling the sale of your current Ohio home with the purchase of a new one, it might feel like walking a financial tightrope. You can then make a strong offer on your next home with no home sale contingency. Think of it as a temporary loan that taps into the equity of your existing home.

Equity 107

Equity Loans Debt-to-income ratio Home sale contingency 107

Windemere Buying

APRIL 11, 2022

Advocates of buying will contend that purchasing a home is an investment in equity, which can increase in value every year you live in the home, whereas if you rent a property, you’re essentially paying for someone else’s mortgage. Investigate the local sales and rental markets. Becoming a homeowner has its respective advantages.

Pre-approval 52

Pre-approval Loan Officer Loans Property Management 52

HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

Purchase and sale agreement 110

Purchase and sale agreement Inspection MLS Inspection contingency 110

Toronto Realty Blog

NOVEMBER 13, 2023

Peter tells John, “I wanted to let you know that I am going to list the condo for sale.” The property is listed for sale and ends up selling after about three weeks. From the article: …the agreement of purchase and sale (APS) that he signed is not a standard document. And what does Bob the Buyer do?

Purchase and sale agreement 107

Purchase and sale agreement Residential Closing Pre-approval 107

Redfin

JUNE 21, 2023

Learning from experienced investors can vastly build your understanding of how it works, beginning with market research and ending with either the sale or signing a tenant in your new rental. Consider area potential and long-term equity gains Buying your first investment property doesn’t necessarily mean it will be where you reside.

Due diligence 59

Due diligence Earnest money deposit Investor Inspection 59

RIS Media

MARCH 25, 2022

In Northern New England, the spring selling season typically kicks off in March, but with only 30 days of supply, there aren’t enough homes to create a seasonal sales “spike” this year. Another shift noticed by the brokers who participated in the roundtable is that people are not interested in homes requiring significant sweat equity.

Pre-approval 98

Pre-approval Inspection As-is Principal 98