Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

Seller concession 72

Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

Housing Wire

JANUARY 17, 2024

For real estate professionals, this option presents an opportunity to capture more sales. They own the home with their name on the title, as with any mortgage, traditional or reverse. But the fact is, most people simply don’t know that a new home can be purchased with a reverse mortgage. What is reverse purchase financing?

Finance 437

Finance Seller concession Loan Officer Loans 437

Broke Agent Media

MAY 31, 2023

of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% While sellers in some parts of the U.S. While sellers in some parts of the U.S. Seller concessions hit a record in February, with 45.6% and nearly double the 25.5%

Seller concession 52

Seller concession Closing costs Sales Mortgages 52

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 393

Mortgages Seller concession Fixed-rate mortgage Loans 393

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 447

VA loan Agents Seller concession FHA loan 447

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

Mortgages 328

Mortgages Loan Officer Marketing Seller concession 328

Housing Wire

JUNE 10, 2021

From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. 5 reasons to refinance your mortgage right now. To attract potential buyers, sellers have to make sure their home is aesthetically pleasing. Seller Concessions. Staging Costs.

Seller concession 546

Seller concession Closing costs Staging Inspection 546

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgages 391

Mortgages Equity Loans Seller concession 391

Housing Wire

NOVEMBER 20, 2023

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. If this is to happen, buyer agents and mortgage companies will be forced to adapt. Matthew VanFossen is the CEO of Absolute Home Mortgage and the vice president of Community Home Lenders of America.

Pre-approval 407

Pre-approval Agents Loan Officer Seller concession 407

Housing Wire

NOVEMBER 16, 2022

Mortgage lender NewRez added the temporary rate buydown feature to its “Smart Series” non-QM products to leverage the growing group of non-traditional borrowers. Other options, such as the 2-1, and 1-0 rate buydowns are also available for non-QM mortgage products. Caliber was acquired by NewRez in a deal closed in August 2021.)

Seller concession 349

Seller concession Mortgages Lending Loans 349

Housing Wire

MARCH 27, 2023

But with the tech sector in turmoil, a looming recession, and consistently elevated mortgage rates, that trend is now making an about-face. In Austin, the total supply of for-sale homes rose 140% year over year in February — the second-biggest increase in the U.S., Pending sales also dropped by 40%.

Industrial 355

Industrial Marketing Seller concession Sales 355

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. 5 reasons to refinance your mortgage right now. This leaves you with three options if you want to move forward with the sale. Ask for seller concessions to make up for the increased price. The purpose?

Earnest money deposit 450

Earnest money deposit Seller concession Loans Lending 450

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

Pre-qualification 92

Pre-qualification Seller concession Pre-approval Closing costs 92

Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. With rates around 6.9% versus a 6.5%

Loan Officer 382

Loan Officer Loans Seller concession Pre-approval 382

Broke Agent Media

MARCH 18, 2023

banking system, from the initial SVB collapse and additional banks in trouble to how it’s affecting the stock market and mortgage rates , and how it could affect the Fed’s meeting next week. Seller Concessions While it’s still a strong seller’s market, Redfin reported that seller concessions are on the rise.

Seller concession 98

Seller concession Banks Mortgages Industrial 98

Realtor.com

DECEMBER 1, 2022

High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front. After the COVID-19 pandemic-fueled homebuying rush reduced the number of homes for sale to all-time lows, the inventory of housing has since rebounded.

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. Because homeowners are unwilling to let go of low mortgage rates, they’re not listing homes for sale. In turn, home sales remain low. High mortgage rates.

Seller concession 98

Seller concession Marketing Sales Industrial 98

Realty Biz

JULY 6, 2023

The seller credits can help alleviate the buyer's financial burden during home-buying. Seller credits at closing can sometimes be the difference whether a buyer can purchase a home. It is worth noting that a seller credit can be the same thing as a seller concession. Often these terms are used interchangeably.

Closing costs 86

Closing costs Closing Purchase and sale agreement Seller concession 86

Real Trends

JULY 11, 2022

They need to understand: What earnest money is and what happens to it if the sale falls through (and if it doesn’t) How long the seller has to respond to an offer Who is responsible for an inspection What happens if an inspection reveals significant problems that require repair. Concessions. Private mortgage insurance.

Seller concession 79

Seller concession Closing costs Inspection Title search 79

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

Realty Biz

APRIL 20, 2022

When the home inspection finds some problems, the seller might agree to cover the cost and have the problem fixed. The language in the offer to purchase will allow you to escape the sale with your money back. You can’t decide to let the seller know you’re backing out after the inspection clause expires.

Purchase and sale agreement 106

Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

Real Trends

JANUARY 2, 2023

If the interest rates do drop and get closer to 5%, agents can expect a mini-boom in which the low rates will re-inspire housing demand significantly and boost overall sales. You can remind your clients that paying rent is still paying a mortgage —just someone else’s.

Seller concession 99

Seller concession Agents Mortgages Equity 99

RIS Media

FEBRUARY 28, 2022

Buy Before You Sell, Sale Leaseback and especially Cash Offer options for homebuyers catapulted the growth of Power Buyers and their accessibility to consumers. According to the report, consumers gained an advantage when working with a Power Buyer versus using a traditional mortgage with a loan contingency.

Seller concession 90

Seller concession Loan contingency Mortgages Loans 90

RIS Media

FEBRUARY 17, 2022

The report noted, “It’s time to stop questioning whether iBuying is good or bad and start asking if an instant offer is a good option for your next home sale.”. Buy before you sell, sale leaseback, and especially cash offer options for home buyers catapulted the growth of Power Buyers and their accessibility to consumers.

Seller concession 96

Seller concession Loan contingency Mortgages Loans 96

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. So, what are closing costs in Delaware?

Closing costs 61

Closing costs Closing Seller concession Homeowner’s association 61

Realty Biz

DECEMBER 5, 2022

The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues. Most of the time, the problems are not significant enough for a buyer to terminate but to either negotiate the price or ask the seller to complete repairs. How to Negotiate Problems Found at a House Inspection.

Inspection 137

Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 137

Redfin

JULY 26, 2021

The average cost of selling a home in the US is approximately 10 – 15 percent of your home’s sale price. Though not mandatory, the presale inspection provides insight into what might need to be repaired and what may hinder a sale or cause it to fall through altogether. Almost always, the seller pays the total commission cost.

Seller concession 70

Seller concession Closing costs Inspection Staging 70

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. Option 5: Pay more for the house. Which option is best for me?

Pre-approval 94

Pre-approval Seller concession Finance Banks 94

Realty Biz

JUNE 26, 2023

You can transact Bitcoin directly with the seller, qualify for a mortgage, or convert your crypto holdings into cash. If the seller believes the cryptocurrency market will experience an upward price movement, they might offer a discount on the home. Use Your Bitcoin as Collateral for A Mortgage.

Seller concession 77

Seller concession Technology Investor As-is 77

HomeLight

MARCH 31, 2021

The last thing you want is sticker shock when you review these subtractions in your seller’s settlement statement. The Georgia Association of Realtors reports that closing costs in Georgia typically range 5% to 10% of the home’s sale price. Seller’s closing costs in Georgia. We often encourage [sellers] to keep an eye on that.

Closing costs 96

Closing costs Closing Purchase and sale agreement Title search 96

Realty Biz

MAY 20, 2021

At the beginning of 2021, median home prices were up 10% across most of the nation, the fastest rising pace since 2006, fueled by low mortgage rates and high demand. Mortgage rates are low … for now. Record-low mortgage rates have hovered below 3% for a 30-year fixed-rate mortgage since October 2020, which is good for buyers.

Marketing 79

Marketing Seller concession Fixed-rate mortgage Mortgages 79

The Close

FEBRUARY 20, 2024

Preparation and presentation: Sellers should focus on depersonalizing and decluttering their homes to appeal to a wide range of buyers. This phenomenon means there are fewer buyers than there are homes for sale. What Is a Seller’s Market? Key Takeaways: Sellers’ advantage: Sellers have the upper hand due to limited supply.

Marketing 91

Marketing Debt-to-income ratio MLS Pre-approval 91

Realty Biz

MARCH 27, 2022

If you want to give yourself a better chance of having your offer accepted, making it as clean and straightforward as possible will appeal to the seller. Any proposal full of contingencies or seller concessions isn’t going to look as good. Don’t Ask the Seller to Include Excluded Items.

Purchase and sale agreement 117

Purchase and sale agreement Earnest money deposit Seller concession Finance 117

Windemere Buying

JUNE 22, 2022

It means the seller has accepted an offer and there’s a good chance the deal will go through, but because the sale is not yet final, the property is technically not off the table. In return, the seller agrees to take the home off the market. When the sale closes, the money goes toward the down payment or closing costs.

Purchase and sale agreement 52

Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

HomeLight

OCTOBER 30, 2020

you’ve likely missed several months of mortgage payments or may be already incurring the lender’s attorney fees for your continued delinquency. Whatever stage you’re in, it’s natural to feel paralyzed with disappointment, sadness, and a sense of panic when those overdue notices and warnings come from your mortgage company.

Short sale 104

Short sale Banks Equity Mortgages 104

HomeLight

NOVEMBER 10, 2021

The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. If a buyer uses an agent, a seller may also be asked to pay all or part of the buyer’s agent commission. For reference, on a $250,000 home sale, that amounts to $15,000 in commission fees.

Closing costs 99

Closing costs Closing Title Title search 99

Realtor.com

DECEMBER 10, 2020

But it’s not the only negotiable part of the sale—there are plenty of other ways to haggle aside from list price. “In In most parts of the country, sellers often have multiple bids right now,” says Danielle Samalin , CEO of Framework Homeownership. “In Just remember: It’s not a given that the sellers will be willing to budge.

Closing costs 142

Closing costs Inspection Closing Rent back 142