Keeping Current Matters

MAY 17, 2021

Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According to Trulia : “ When you close on a home, a number of fees are due. Bottom Line.

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Closing costs Closing Title Land 290

HomeLight

OCTOBER 31, 2024

In this post, we explore the question: Are closing costs tax deductible? What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

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Closing costs Closing Title search Title 111

Housing Wire

JUNE 12, 2024

VA loans are also helping to close the homeownership gap for women and minorities. The top advantages of the VA loan were ”competitive interest rates” and ”the ability to reuse the VA loan benefit,” followed by its zero-down payment feature, funding fee exemptions and limits on closing costs. It originated $17.6

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VA loan Loans As-is Mortgages 466

Housing Wire

DECEMBER 16, 2024

The family-run brokerage firm recorded some legal w ins and losses , developed new tools for agents and clients , and navigated one of the slowest years for home sales in nearly three decades. Hanna said this led the company to revamp some of its agent education. It created a buyer representation certificate for agents.

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Brokerage Agents Technology Industrial 370

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

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VA loan Agents Seller concession FHA loan 482

Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. This claim is misguided, oversimplifying a more complicated reality.

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Finance Agents FHA loan Closing costs 448

Housing Wire

JUNE 11, 2024

According to a survey published by Clever Real Estate , 67% of the general public supports the changes, while 70% of real estate agents oppose them. According to a survey published by Clever Real Estate , 67% of the general public supports the changes, while 70% of real estate agents oppose them.

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Agents Closing costs As-is Industrial 468

Housing Wire

JANUARY 18, 2021

That’s what real estate agents are here for. Almost 90% of buyers recently used a real estate agent or broker to purchase their home, according to the National Association of Realtors. Whether you’re a first-time homebuyer or this is your fifth house, it’s a good idea to use an agent to ensure you make a smart decision. .

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Agents Closing costs Closing Mortgages 545

Housing Wire

APRIL 15, 2024

Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. NAR has also reached out to the U.S.

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Agents Seller concession VA loan Finance 532

Housing Wire

APRIL 7, 2025

We need to make sure our agents are ready to help them take that next step. In our community, many first-time buyers were using those to buy down interest rates or cover closing costs. Sworn in on March 26 during NAHREPs annual Homeownership and Housing Policy conference in Washington, D.C. Our community is resilient.

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Commercial Title Closing costs Equity 370

Housing Wire

AUGUST 19, 2024

But even though O’Koniewski and her agents have spent months preparing for these changes, she said the date did not come without a sense of trepidation. “I When we got to the close of day on Friday, we were all kind of waiting to see if it was going to be a big event and then it wasn’t. I know quite a few agents it hurt.

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Purchase and sale agreement Agents MLS Seller concession 476

Housing Wire

DECEMBER 27, 2023

In the nearly two months since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, Jason Posnick has fielded a lot of questions about commissions and cooperative compensation from clients. They actually seem more on the side of the real estate agents,” Posnick said. “It

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Agents Industrial Closing costs As-is 459

Housing Wire

FEBRUARY 19, 2025

Buyers agents are not just bright smiles that open doors were the guide our clients rely on to navigate the homebuying process. Thats why having a definitive homebuying checklist is an essential part of your agent toolkit. This is when your buyers need you the most. Have you spoken to a lender?

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Closing Earnest money deposit Due diligence Pre-approval 372

Housing Wire

JUNE 10, 2021

According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. Sellers also have to pay closing costs.

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Seller concession Staging Closing costs Inspection 546

Housing Wire

OCTOBER 16, 2023

Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. It never will be. I’ll explain later.)

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Agents Seller concession Closing costs Mortgages 435

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. The original effective date as announced last fall remains in effect, which will be April 29, 2024.

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Closing costs Development Equity Closing 488

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. The lender and LO can make or break the transaction.”

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Housing Wire

FEBRUARY 28, 2024

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. Dubbed Newrez Home Rewards, buyers will be matched with a real estate agent who works with Newzip and provided booking services.

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Closing costs Loan Officer Closing Loans 448

Housing Wire

OCTOBER 20, 2023

And with millennials emerging as the largest generation of homebuyers in today’s market, comprising 28% of all homebuyers, real estate agents need to master social media or they might miss out. Sixty percent of agents surveyed believe that social media provides higher quality leads than the MLS.

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Agents Lending Renovation Staging 435

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

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Closing costs Closing Seller concession Title 56

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage.

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Closing costs Closing VA loan Seller concession 52

Housing Wire

APRIL 30, 2024

AARP concerns “FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” HUD said in its update to the policy. Certner cited fair lending concerns and the potential of undue borrower influence.

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Mortgages Closing costs Equity Construction 447

HomeLight

JANUARY 7, 2025

There is the cost of the home itself but then there are also the closing costs , HOA fees , property taxes , homeowners insurance, and paying for necessary repairs. So where do the buyers agent fees fit into this? Find An Agent To Help You Buy Your First Home Purchasing your first home? with your agent.

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Agents Closing costs Investor Closing 98

Housing Wire

JULY 26, 2024

The majority of real estate sales fall under this category and usually employ a buyer’s and seller’s agent who negotiate on behalf of their respective parties. However, an agent can help suggest a fair market value, draw up contracts, review documents, and ensure state-required protocols are followed. Establish a timeline.

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Purchase and sale agreement Finance Closing costs Closing 459

Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs.

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VA loan Closing costs MLS Loans 476

Housing Wire

DECEMBER 18, 2024

Over the weekend, broker-owner Steve Webster sent a note to his agents informing them that the brokerage was closing, according to a report by Boston 25 News. Funds placed in escrow often include things such as earnest money deposits or funds from a seller to help a buyer pay closing costs or their agents commission.

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Earnest money deposit Principal Closing costs Brokerage 390

Housing Wire

OCTOBER 4, 2022

Closing fee-related compliance tool provider LodeStar is integrating with title insurance provider Stewart , the companies said Monday. Users can also streamline cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE).

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Title Loan Officer Closing costs Closing 448

Housing Wire

FEBRUARY 19, 2021

Your lender is going to require an adequate home insurance policy before they’ll close on your loan. If you forget to secure one or your policy start date doesn’t align with your closing, it could throw things off schedule. Many lenders will re-check your credit just before closing on your loan. Home insurance hiccups.

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Loans Loan Officer Closing Closing costs 535

Housing Wire

DECEMBER 4, 2023

We’re writing today to address the unintended consequences that may result from the real estate agent commission dilemma stemming from recent lawsuits. There are multiple lawsuits challenging the prevailing structure of real estate agent commissions, and, as a result, there is no shortage of industry conversation on the topic.

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Mortgages Agents Closing costs Finance 468

Housing Wire

APRIL 12, 2024

While the slowdown has resulted in a return to pre-pandemic levels of market activity, real estate agents across the state believe that an issue far greater than 7% mortgage rates may cause the housing market to slow further. “We We have an insurance problem,” said Charlotte Johnson , a Keller Williams agent based in Mandeville.

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Debt-to-income ratio Marketing Closing costs Agents 459

Housing Wire

NOVEMBER 13, 2023

by 1% to 2% just by cutting the commission paid to buyer’s agents.” by 1% to 2% just by cutting the commission paid to buyer’s agents.” This is from the Editorial Board of The Wall Street Journal, “Ninety percent of transactions offer buyer agent commissions of exactly 3%.” of homeowner’s equity paid out in commissions.

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Closing costs Equity Agents Technology 375

HomeLight

JANUARY 31, 2025

When youre preparing to sell or buy a home, the phrase closing costs will be spoken (and written) on both sides of the transaction table. But what are closing costs? Understanding these costs upfront can help you budget properly and avoid surprises. Connect with your top agent matches today at no cost.

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Closing costs Closing Title Seller concession 104

Housing Wire

MAY 17, 2024

Increasing our Closing Guarantee to $20,000 is a reflection of our confidence in getting customers into their new home without delay.” The grant can be combined with state and local homebuyer assistance to lower the interest rate and/or reduce the closing costs and down payment.

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Lending Closing Banks Commercial 481

Housing Wire

OCTOBER 27, 2023

The free market establishes broker commission costs based on things like service quality, value for price and market conditions. Class action attorneys in this case want to take away that buyer representation or force buyers to have to pay for representation out-of-pocket on top of the cost of a down payment and closing costs.

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MLS Brokerage Agents Closing costs 488

Housing Wire

DECEMBER 26, 2022

Many in the title insurance industry reported record years in 2021, but while experts were predicting things to slow down in 2022, the suddenness at which the market cooled was unexpected, or as Jodi Ketchersid, a Destin, Florida-based Corcoran Group agent said: “It was like, ‘Holy cow! What happened to the market?’”.

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Title Industrial Closing costs Closing 505

HomeLight

AUGUST 12, 2024

When selling a home in Colorado, understanding closing costs is important. Closing costs refer to the various fees and expenses that sellers typically incur to finalize the sale of their property. These costs include things like loan payoff amounts, real estate agent commissions, and more.

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Closing costs Closing Principal Loans 111