HomeLight

MARCH 31, 2022

Financing contingency: Even if you are preapproved for a mortgage loan, you may run into a problem getting a loan approved for a specific property. Or you could run into issues because something major changes with your finances during the loan approval process, such as losing your job or needing to take on a car loan.

Home sale contingency 85

Home sale contingency Sales Purchase and sale agreement Inspection contingency 85

HomeLight

AUGUST 31, 2021

The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. There’s no financing contingency.

Due diligence 79

Due diligence Inspection Pre-approval Pre-qualification 79

RIS Media

JULY 8, 2021

Agents can help buyers write the very best initial offer by contacting the listing agent to find out their preferred terms for closing dates and occupancy, rent backs if necessary, financing or cash options, so that they can put the best terms in their initial offer. Be relentless and resourceful.

Marketing 105

Marketing MLS Agents Rent back 105

Real Trends

JULY 15, 2022

This could involve a quick settlement, a rent-back offer, a home inspection without repairs, or doing away with other contingencies. A good lender will assure that appraisals are done on time, the financing commitment is done correctly, and that all the boxes are checked so you won’t have an issue with the financing.

Loan Officer 52

Loan Officer Agents Rent back Finance 52

The Close

FEBRUARY 6, 2024

The less your buyers need to finance, the less likely the deal will fall through. 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. Offer Rent Back The possession date is often a point of negotiation in any sale.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

Redfin

MAY 7, 2021

Another option to consider is gap financing such as a Home Equity Line of Credit (HELOC) or a Bridge Loan. You can also consider requesting a rent-back agreement from potential homebuyers. A rent-back agreement means that the homebuyer purchases your home and you rent it from them for a specified period of time.

Purchase and sale agreement 79

Purchase and sale agreement Marketing Equity Loans 79

HomeLight

APRIL 29, 2021

Federal Housing Financing Agency (FHFA). For example, in 2017, a competitive housing market in Western Washington prompted “serious buyers” to waive home inspections and financing contingencies. That competition between buyers pushes bid prices up, leading to higher home values. Homes sell faster.

Marketing 109

Marketing Sales Agents Construction 109

Redfin

FEBRUARY 2, 2021

If you don’t have to use a lender, there’s no financing contingency, which shows the sellers that you will most likely not pull out of the deal due to financial issues. A rent-back agreement is a great option for buyers to purchase the home and then rent it back to the seller to give them time to find a new place to live.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

HomeLight

JUNE 30, 2021

A financing contingency — which says that if your lender can’t close the mortgage on your home, you can back out — will protect you if you need to sell your current home to get the money to qualify for your new loan. Ask for a rent-back clause. In hot markets, many sellers are asking for — and getting — rent-backs.

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

HomeLight

APRIL 19, 2021

Being able to afford a home in this swanky NYC borough means enjoying unparalleled access to the world’s preeminent nexus of culture, cuisine, architecture, and finance. If you’re ready to buy a house in Manhattan, congratulations! A top agent will help you remain competitive even in a cash market. Flood zones in the city?

Earnest money deposit 63

Earnest money deposit Inspection Due diligence Agents 63

HomeLight

JANUARY 4, 2022

According to a Q3 2021 study by ATTOM Data Solutions, all-cash home sales are at their highest level since the first quarter of 2015, with 34% of all single-family homes and condos purchased without financing. “In Who’s paying cash for houses? Reasons to sell your house for cash.

Investor 98

Investor Finance Inspection Sales 98

First Team Real Estate

MAY 21, 2021

Offer to Rent Back to the Sellers. A great way to sweeten your offer without crushing your finances is to offer the home seller a month of free “rent” so they have time to find a new home before moving out. Run the numbers and make the offer ASAP. Don’t let fear slow you down. Shop Off-Market Listings.

Purchase and sale agreement 98

Purchase and sale agreement Rent back Marketing Agents 98

HomeLight

JULY 29, 2022

Financing is simple: You can use the cash from your sale as a sizeable down payment. Transition via rent back. Although rare these days, bridge loans allow you to finance the purchase of your new home by borrowing against the equity of your current home. The upsides. How to make it work. Opt for a bridge loan.

Debt-to-income ratio 109

Debt-to-income ratio Loans Rent back Equity 109

HomeLight

JANUARY 7, 2022

Close on your new home (4 to 8 weeks): The exact timeline for your closing will vary, depending on what contingencies you have and if there are any delays with financing. When you go this route, you don’t have to worry about the challenges of temporarily financing two homes or buying with a contingency, says Boyer, our Utah real estate agent.

Equity 104

Equity Loans Debt-to-income ratio Closing 104

HomeLight

FEBRUARY 28, 2022

As Ruiz states above, it’s not uncommon these days for a seller to ask for either a rent-back option, where they rent the property back from the buyers for a period of time, or to make it a condition of the sale that they have 30 or more days after closing to actually vacate the house. Figure out your finances.

Equity 121

Equity Debt-to-income ratio Closing Loans 121

HomeLight

OCTOBER 1, 2020

Are you able to offer the seller more time to stay in the home, or suggest a rent-back agreement? With a rent-back agreement , the seller stays in the home post-closing, giving them more time and giving you leverage.). Can you offer a rent-back agreement to the seller? And can you use it to your advantage?

Purchase and sale agreement 89

Purchase and sale agreement Short sale Rent back Sales 89

HomeLight

MAY 24, 2021

Since sellers always want to choose the strongest offer possible, they want to feel confident the deal won’t fall through if the buyer can’t secure appropriate financing. If this is the case, you can offer a rent-back arrangement , allowing the seller to stay in the home as a renter for a specified timeframe after closing.

Pre-qualification 106

Pre-qualification Pre-approval Purchase and sale agreement Loans 106

Realtor.com

OCTOBER 29, 2020

If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting your earnest money deposit , says Bishoi Nageh , president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ. Review your closing disclosure.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

AUGUST 16, 2022

Sellers aren’t always driven by the sales price alone — including a rent-back opportunity or a quick closing date could be the difference between a seller saying “no thanks” and choosing to take a closer look. Even with current market conditions, Hester doesn’t recommend that buyers try to wait out rising interest rates.

Mortgages 134

Mortgages Fixed-rate mortgage Agents Rent back 134

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. One solution might be a rent-back that would financially compensate a patient buyer if the seller needs more time to transition after the sale.

Inspection contingency 107

Inspection contingency Home sale contingency Pre-approval Agents 107

HomeLight

MARCH 20, 2023

Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. Appraisal Contingency: If the appraisal fails to meet or exceed the purchase price, the buyer can back out of the contract (or, more often, renegotiate the purchase price). Offer to accept a rent-back agreement.

Home sale contingency 94

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 94

HomeLight

SEPTEMBER 11, 2020

Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? A financing or mortgage contingency , which states that the buyer can back out of the deal if they can’t obtain financing to complete the purchase.

Earnest money deposit 86

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 86

HomeLight

MARCH 28, 2022

Also known as a seller rent-back agreement or a holdover , this allows you to stay in your home for a designated period ?of Essentially, it makes the buyer your landlord so you have time to rent or buy a new home and arrange for the movers to collect your belongings. of time after you sell.

Purchase and sale agreement 114

Purchase and sale agreement Equity Agents Staging 114

HomeLight

MAY 24, 2022

If you’re planning to finance your next home, securing a lower mortgage rate now might save you money in the long run and make your house more affordable to potential buyers. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process. Sell Fast With an All-Cash Offer.

Pre-approval 98

Pre-approval Equity Agents Closing costs 98

HomeLight

SEPTEMBER 23, 2021

When interest rates are lower , buyers are more inclined to purchase and finance a home. “So we do a lot of contingencies , rent-backs, and long escrows to try to make two transactions happen at the same time.” Interest rates are another critical factor to take into consideration when deciding when to sell your home.

Rent back 82

Rent back Home sale contingency Agents Sales 82

HomeLight

JANUARY 28, 2022

These are some common contingencies in a traditional offer: Financing contingency : The buyer can leave the deal if they can’t obtain financing. Appraisal contingency : The buyer can back out if the home appraisal comes in lower than the offer amount (an appraisal lower than offer can also cause financing to fall through).

Purchase and sale agreement 109

Purchase and sale agreement Investor Agents Sales 109

HomeLight

MARCH 2, 2023

My Home California Down Payment Assistance : California Housing Finance Agency (CalHFA), offers first-time homebuyers deferred payment loans through both FHA and conventional programs, to assist with down payment and/or closing costs. Do they need to do a rent-back on the house, or do they want a quick close? Closing time!

Closing 96

Closing Earnest money deposit Sales Inspection 96

Realtor.com

SEPTEMBER 18, 2020

Other home-rental operations have also sold nearly $6 billion of rent-backed bonds, including three deals presently in the market, according to Akshay Maheshwari of Kroll Bond Rating Agency. American Homes 4 Rent is still buying properties off the open market. Beyond that, investment firms Blackstone Group Inc.,

Investor 104

Investor Equity Rent back Commercial 104

HomeLight

MARCH 31, 2021

Along with increasing the offer price, buyers in competitive markets may sweeten the deal with other favorable terms — such as shortening or waiving contingencies and offering cash instead of financing for a faster close. Consider negotiating a rent back when you sell to give you extra time to find your new home.

Marketing 88

Marketing Banks Land Sales 88

HomeLight

DECEMBER 14, 2021

a multiple offer situation, Mattes says that sellers need an agent who can help them sort it all out in a way that makes sense — helping them narrow it down if they want government financing, a cash deal, or no inspections. It could be the close date, repairs, or a rent back period. Has a network of professionals.

Pre-qualification 105

Pre-qualification Earnest money deposit Agents Days on market 105

HomeLight

DECEMBER 14, 2021

a multiple offer situation, Mattes says that sellers need an agent who can help them sort it all out in a way that makes sense — helping them narrow it down if they want government financing, a cash deal, or no inspections. It could be the close date, repairs, or a rent back period. Has a network of professionals.

Earnest money deposit 96

Earnest money deposit Agents Days on market Sales 96

HomeLight

FEBRUARY 28, 2021

Waive appraisal and finance contingencies. Offer a rent-back clause to the seller. Work with a local lender who understands Arlington. Waive home inspection contingencies — but NOT the home inspection. You still need to uncover and understand any issues with the home. Write a letter to the seller introducing yourself.

Earnest money deposit 98

Earnest money deposit Land Residential Inspection contingency 98

Realty Biz

MAY 16, 2022

Remove Your Mortgage Financing Contingency. If you truly love a home and are a gambler, removing your financing contingency is the way to go. Removing the financing contingency is similar to offering cash, so it is extremely appealing to a seller. Give The Seller Their Closing and Agree to a Rent Back if Needed.

Earnest money deposit 95

Earnest money deposit Purchase and sale agreement Rent back Inspection 95

HomeLight

DECEMBER 15, 2022

Mahan explains that in 2021’s hot seller’s market, “for some sellers looking at over 20 offers that were all very similar financing-wise and similar as far as net dollar amount, sometimes the offer letter would make them stand out one way or another and help them visualize a different person in their home.”.

Inspection 92

Inspection Closing Rent back Agents 92