The Close

APRIL 28, 2022

In today’s tight inventory market, trying to help buyers with financing and limited funds feels a little like getting into a boxing match with Mike Tyson. We’ll share our strategies to improve your offer by reducing the negative aspects of financing while creatively solving some of the other concerns a seller may have.

Rent back 104

Rent back Closing costs Finance Agents 104

Realtor.com

OCTOBER 29, 2020

If something is wrong, you can request that it be fixed—or you can back out of the sale. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. That includes making a down payment on a car, boat, or similar large purchase that has to be financed.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

First Team Real Estate

MAY 21, 2021

According to recent data from NAR , home sales are receiving an average of 4 offers, and our FirstTeam agents regularly see bidding wars that capture upwards of 20 offers! Offer to Rent Back to the Sellers. With so much competition for limited inventory amid a national housing crisis , you need a seriously smart strategy.

Purchase and sale agreement 98

Purchase and sale agreement Rent back Marketing Agents 98

RIS Media

APRIL 18, 2022

Look at recent sale prices, as well as neighborhood trends. Getting rid of the mortgage financing clause in their offer. Allowing the seller to rent back for a specified amount of time. Unless you have your financing in hand, you won’t be able to make an offer on the house. This one is a biggie.

Pre-approval 112

Pre-approval Backup offer Due diligence Rent back 112

HomeLight

JANUARY 4, 2022

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market, as sellers benefit from new technologies, instant sale platforms , and a competitive housing environment that has increased the percentage of cash offers.

Investor 98

Investor Finance Inspection Sales 98

Realtor.com

JUNE 4, 2021

from a year earlier, and the number of homes for sale fell to record lows earlier this year. That scarcity has helped lift home prices to all-time highs and has started to slow down the pace of sales. Some sellers negotiate rent-back agreements, so they can stay in their home for a month or longer after selling while they house hunt.

Purchase and sale agreement 90

Purchase and sale agreement Marketing Rent back Principal 90

HomeLight

FEBRUARY 28, 2022

“The logistics include timing the purchase and the sale, negotiating with both sides on moving or possession dates, and organizing belongings to get ready for the move,” said Mike Qui, owner of Good as Sold Home Buyers. Juggling the sale of one home and the purchase of another can be stressful even under the best of circumstances.

Equity 116

Equity Debt-to-income ratio Closing Loans 116

HomeLight

JULY 29, 2022

Our Home Value Estimator tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Financing is simple: You can use the cash from your sale as a sizeable down payment. Transition via rent back.

Debt-to-income ratio 107

Debt-to-income ratio Loans Rent back Equity 107

Windemere Selling

SEPTEMBER 1, 2021

On the other hand, it creates a gap of residence, often leaving homeowners wondering where they’ll stay until they move into their new home or whether they may need to rent before they can buy again. Sellers may also negotiate a rent-back agreement with the buyers, allowing them to rent the house from the new owners before they move in.

Purchase and sale agreement 52

Purchase and sale agreement Rent back Loans Agents 52

HomeLight

APRIL 21, 2022

After listing your home for sale, you eagerly, nervously … anxiously await the news that someone wants to buy it. 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.

Inspection contingency 104

Inspection contingency Home sale contingency Pre-approval Agents 104

HomeLight

JANUARY 7, 2022

So, instead of stressing your way through two sales, you can set yourself up for success and have your bags packed for your new home in no time. They’ll also introduce you to options, such as a bridge loan or home equity line of credit, to assist in your sale if needed. Do you have a limited amount of time to complete both sales?

Equity 103

Equity Loans Debt-to-income ratio Closing 103

RIS Media

JULY 8, 2021

For best results, host a training class or have a sales meeting discussion to review the following six buyer strategies designed to provide the highest value and achieve their buyer’s objectives for purchasing a home: Over-communicate how to compete as a buyer in today’s market. Be relentless and resourceful.

Marketing 102

Marketing MLS Agents Rent back 102

Real Trends

JULY 15, 2022

The situation in today’s housing market is consistent with that of the previous two years: a lower inventory of houses available for sale than the demand. That said, although houses are still selling, sales have definitely cooled in some areas. Outside forces can have a huge impact on housing sales. Access to Data.

Loan Officer 52

Loan Officer Agents Rent back Loans 52

HomeLight

AUGUST 31, 2021

Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. 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.

Due diligence 74

Due diligence Inspection Pre-approval Pre-qualification 74

HomeLight

OCTOBER 1, 2020

If the appraiser only looked at sold listings while there are pending sales that might be more comparable to your would-be property, that’s something else that can affect a home’s appraised value. Short sales in the neighborhood . In some cases, short sales may be to blame for a low appraisal.

Purchase and sale agreement 85

Purchase and sale agreement Short sale Rent back Sales 85

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.”. Again, emotions may be high.

Inspection 87

Inspection Closing Rent back Agents 87

Realtor.com

SEPTEMBER 18, 2020

Even if there isn’t a surge in repossessed homes to buy cheaply off the courthouse steps—which led to the emergence of Wall Street’s landlords during the foreclosure crisis a decade ago—there is likely to be a lot of forced sales and new renters. “A American Homes 4 Rent is still buying properties off the open market.

Investor 104

Investor Equity Rent back Commercial 104

HomeLight

MAY 24, 2022

Sales of existing homes fell for the second consecutive month by 2.7% Sales dropped from March 2021 in all four major US regions. Prices in March 2022 were 15% higher than a year before for existing home sales. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process.

Pre-approval 98

Pre-approval Equity Agents Closing costs 98

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. But if it’s not a huge issue, encourage them to go through with the sale and work on the repairs after they move in.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

SEPTEMBER 23, 2021

The time of year and market conditions you list your home in can significantly impact your sale speed and price. Nationally, data points to November as the best month to sell if you’re looking to maximize your sales price, and July is the best month if you’re looking to sell fast. Source: (Icons8 Team / Unsplash).

Rent back 78

Rent back Home sale contingency Agents Sales 78

HomeLight

AUGUST 16, 2022

The National Association of Realtors® (NAR) reported in late July 2022 that “the housing market continues to show signs of cooling,” citing a consistent drop in home sales over the past five months. They have also shared that “home buying is now about 80% more expensive” as of June 2022 versus June 2019, pre-pandemic.

Mortgages 132

Mortgages Fixed-rate mortgage Agents Rent back 132

HomeLight

JANUARY 28, 2022

Not only do they guarantee a cash sale, but they also extend a no-obligation offer and will close on the sale within 30 days. A quick sale is a big plus to working with these buyers, but that sale could cost you in the long run. Need a quick sale? The We Buy Ugly Houses franchise model became available in 1996.

Purchase and sale agreement 105

Purchase and sale agreement Investor Agents Sales 105

HomeLight

MAY 24, 2021

Home sales have skyrocketed, and home inventory is historically low. 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. You see a house you love, and it’s listed at $300,000. Perfect match, right? Not so fast.

Pre-qualification 102

Pre-qualification Pre-approval Purchase and sale agreement Loans 102

HomeLight

MARCH 28, 2022

Simple Sale provides cash offers for homes nationwide for when a traditional listing doesn’t work. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Stressed About a Quick Job Move? Get Estimate.

Purchase and sale agreement 110

Purchase and sale agreement Equity Agents Staging 110

HomeLight

APRIL 29, 2021

An ample supply (lots of homes for sale) and limited demand (fewer buyers) leads to a buyer’s market. Conversely, lack of supply (fewer homes for sale) and abundant demand (lots of buyers) results in a seller’s market. It can affect: How you prepare your home for sale. Federal Housing Financing Agency (FHFA).

Marketing 107

Marketing Sales Agents Construction 107

Redfin

MAY 7, 2021

In a seller’s market, you may be tempted to put an offer on a home that’s contingent on the sale of your current home. 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.

Purchase and sale agreement 80

Purchase and sale agreement Marketing Equity Loans 80

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? No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency. A bigger down payment?

Earnest money deposit 81

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 81

HomeLight

DECEMBER 14, 2021

Top agent Dave Mattes , who completes 21% more sales than the average agent in Reading, Pennsylvania, thinks that “a good real estate agent is somebody that dedicates enough time to treat their customers well, and they have fast responses, market knowledge, and good communication.”. Do they have sales or listings pending?

Pre-qualification 100

Pre-qualification Earnest money deposit Agents Days on market 100

HomeLight

DECEMBER 14, 2021

Top agent Dave Mattes , who completes 21% more sales than the average agent in Reading, Pennsylvania, thinks that “a good real estate agent is somebody that dedicates enough time to treat their customers well, and they have fast responses, market knowledge, and good communication.”. Do they have sales or listings pending?

Earnest money deposit 91

Earnest money deposit Agents Days on market Sales 91

Redfin

FEBRUARY 2, 2021

A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. 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. What is a Seller’s Market?

Pre-approval 66

Pre-approval Purchase and sale agreement Marketing Inspection contingency 66

HomeLight

MARCH 31, 2021

Does a ‘Sale Pending’ sign materialize on your neighbor’s yard a few days after a “For Sale” sign appears? This competition gives sellers leverage to negotiate for a higher sales price and better offer terms, such as fewer contingencies. The best way to manage multiple offers ?

Marketing 84

Marketing Banks Land Sales 84

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. to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits.

Earnest money deposit 61

Earnest money deposit Inspection Due diligence Agents 61