Realty Biz

JULY 1, 2023

Depending on how far along in the escrow process you are, this can be done in a variety of ways: Providing a deposit - If you have not yet made an offer on a home, consider providing an earnest money deposit as your first step. According to Forbes Advisor, the required credit score for a mortgage depends on the type of loan you are seeking.

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

RIS Media

APRIL 8, 2022

While financing may be pre-approved, the process is complex. Something can come up (such as an unanswered financial obligation or a significant purchase before the closing that changes the debt-to-income ratio) and put a home back. . Real Estate appraisals are usually completed when homes are bought via mortgage loans.

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Debt-to-income ratio Title search Backup offer Home sale contingency 144

Realty Biz

NOVEMBER 11, 2020

Understanding how a home inspection works is essential for both buyers and sellers, given the importance of this real estate transaction phase. Home Sale Contingency. If the buyer still needs to sell their home before they can close on the new property, a home sale contingency can be put in place.

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Backup offer Sales Home sale contingency Earnest money deposit 110

HomeLight

JULY 31, 2020

These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Image Source: (Shutterstock.com/Chokniti Khongchum).

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Closing Purchase and sale agreement Title search Earnest money deposit 110

Real Trends

DECEMBER 27, 2022

Before a mortgage is approved, lenders will have a property appraisal. This ensures that the value of the deal is in sync with the sale price. Home sale contingency. I’ve shared the situations that can trigger a home inspection contingency or appraisal contingency. Asynchronous appraisal.

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Windemere Selling

MARCH 14, 2022

If the seller chooses not to make the repairs outlined in the buyer’s home inspection report, the buyer can cancel the contract. As a seller, it’s important to be transparent in listing any issues with the home. Even if a buyer is pre-approved for their mortgage , they may not be able to obtain the right loan for the home.

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Purchase and sale agreement Home sale contingency Inspection contingency Pre-approval 52

Windemere Buying

AUGUST 31, 2022

Also known as a “mortgage contingency,” a financing contingency gives the buyer a specified period of time to secure adequate financing to purchase the home. Even if you are pre-approved for your mortgage , you may not be able to obtain the right loan for the home. Home Sale Contingency.

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Home sale contingency Inspection contingency Title Pre-approval 52