Remove appraisal-contingency
article thumbnail

Preparing to Get Pre-Approved For a Mortgage

Realty Biz

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week.

article thumbnail

How to negotiate your home purchase offer

Housing Wire

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process. When it comes to using this third negotiating tool, Bryher said appraisal gaps must be considered carefully.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Vital Information About Buying a House Before Selling My Existing Property

Realty Biz

However, you can minimize this risk by obtaining a second loan or securing a contingency clause in your purchase agreement that allows you to delay the closing until your current home sells. Another option is to hire an appraiser to estimate the value of your property based on various factors such as location, size, and recent sales data.

article thumbnail

What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. Kaczor , a top-selling agent from Illinois with 30 years of experience. “It

article thumbnail

What Does Contingent Mean in Real Estate?

HomeLight

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

article thumbnail

Insights Into The Maryland Housing Market: Trends And Forecasts For 2024

Realty Biz

Getting Pre-Approved For A Mortgage In a seller’s market like Maryland, getting pre-approved for a mortgage loan should be one of the first steps for hopeful buyers. Pre-approval provides a significant advantage by showing sellers you are a serious buyer with the financing ready to make a purchase.

article thumbnail

How knowing your buyers can improve your negotiation strategies

Real Trends

Powerful negotiation skills are essential for real estate agents, and knowing about the buyer’s priorities is a great way to improve your negotiation strategies. If they’re financing, call the lender and review the lender’s approval letter. You should also find out if they have any contingencies.