Redfin

JULY 9, 2025

Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. Whether you’re purchasing your first home or need a refresher, understanding each step in the home buying process timeline can help you avoid surprises and feel more confident along the way.

Pre-approval

Redfin

JULY 10, 2025

After offer acceptance At the start of the due diligence period Purpose Shows buyer commitment and secures the contract Compensates seller for taking property off the market Applied to purchase? Credited toward the purchase price at closing Credited toward the purchase price if sale closes Fee amount 1-3% of the purchase price Often 0.1%

Due diligence

Redfin

JUNE 23, 2025

Earnest money is a good-faith deposit held in escrow that can be applied to closing costs or the down payment. During the due diligence period, the buyer is allowed a set amount of time, typically outlined in the purchase agreement, to fully investigate the property before finalizing the sale.

Due diligence

Redfin

MARCH 4, 2025

Of course, you may need specific paperwork depending on your situation or local laws in your area, so be sure to consult with your real estate agent or attorney during the home selling process. Particularly youll need the original purchase agreement and deed. Deed Youll need the deed to your house.

Purchase and sale agreement

Redfin

JULY 1, 2025

A seller’s credit, also known as a seller concession, is a financial agreement where the home seller agrees to cover some of the buyer’s closing costs. Rather than lowering the price of the home, the seller contributes a credit at closing to help reduce the buyer’s upfront expenses. What is a seller’s credit?

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

The commission is typically divided equally between the buyer’s and seller’s agents, based on a percentage of the sale price. While technically, the seller pays the commission; it is indirectly included in the property’s sale price, which means the buyer contributes to it.

Purchase and sale agreement

Redfin

JUNE 27, 2025

Seller concessions refer to closing costs or other fees that the seller agrees to pay on the buyer’s behalf. These concessions are negotiated during the offer process and help make the purchase more affordable for the buyer, without reducing the home’s sale price. What can seller concessions cover?

Seller concession

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Fannie Mae’s HomePath Ready Buyer Program : This offers up to 3% in closing cost assistance when purchasing a HomePath property and completing a homeownership course.

Purchase and sale agreement

Redfin

JULY 14, 2025

It’s designed to show the seller they’re serious about the purchase and typically ranges from 1% to 3% of the purchase price. The money is held in escrow and is typically applied towards the buyer’s closing costs or down payment. Moving in or storing belongings early without a formal written agreement.

Earnest money deposit

Redfin

JUNE 30, 2025

That said, laws and practices vary slightly by state, so it depends on how the title company, attorney, or escrow agent handles closings. Can sellers skip the closing appointment? Yes, sellers can often skip the in-person closing appointment. Who needs to be present at closing? appliances).

Closing

Redfin

JUNE 18, 2025

Whether you’re purchasing a brownstone in Brooklyn, NY , or selling a ranch-style home in Tucson, AZ , understanding how transfer taxes work can help you avoid unexpected costs and negotiate smarter. It’s important to review your purchase agreement and local regulations to determine who’s on the hook.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles How to Buy a House in New York Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Earnest Money and House Deposits Explained Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

Earnest money deposit

HomeLight

JULY 21, 2025

Compared to the traditional market, these companies pay below-market value in exchange for a quick and convenient sale process. A cash sale can be a practical option when you’re pressed for time, facing financial pressures, or simply want to sell your house and move on quickly. No showings, no repairs, no open houses.

Purchase and sale agreement

HomeLight

JULY 23, 2025

“The most common reason is that the home needs repairs or updating that the seller doesn’t want to do,” says Peter Derry , a leading South Carolina agent who works with over 67% more single-family homes than the average local agent. The buyer understands they’re purchasing the property in its current condition.

As-is

Redfin

AUGUST 5, 2025

Conveyance is when the property you’ve worked tirelessly to purchase becomes yours, and you’re transferred the deed and title. The conveyancer is typically the closing agent at a title company or a real estate attorney. In some cases, the conveyance tax can be charged as a flat fee in the closing costs.

Purchase and sale agreement

HomeLight

JULY 22, 2025

Compared to listing on the open market, these companies pay below-market value in exchange for a quick and easy sale process. A cash sale can be a valuable option when you’re short on time, dealing with financial pressures, or simply want to sell your house and move on. Need to sell your house quickly in Woodbridge, NJ?

Purchase and sale agreement

Redfin

AUGUST 6, 2025

Amongst all the excitement and anticipation that comes with buying a home, it’s important to keep a realistic timeline of just how long it takes to purchase a house. However, in most cases, once a seller has accepted your offer, the closing process typically takes 30 to 60 days – unless you made an all-cash offer.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

Understanding the cash sale process, weighing the pros and cons, finding a reputable cash home buyer, and preparing your house for a cash sale are all essential steps to ensure a successful transaction. (585) 704-7095 Contact Now Search Homes Home Fair Housing S.O.P. 585) 704-7095 Contact Now Search Homes Home Fair Housing S.O.P.

As-is

Rochester Real Estate

NOVEMBER 5, 2015

Here are the top frequently asked questions that home sellers ask before listing a home for sale, questions relating to home value & pricing, questions relating to contracts, and questions relating to purchase offers. Frequently Asked Questions Before Listing Their Home For Sale When is the best time to sell my home?

Purchase and sale agreement

HomeLight

JUNE 6, 2025

Compared to a traditional sale, these companies pay below-market value in exchange for a quick and convenient process. A cash sale can be a viable solution when you’re short on time, facing financial pressures, or simply want to offload your property and move on quickly. Receive your offer in 24 hours and close in as few as 10 days.

Purchase and sale agreement

Redfin

JUNE 17, 2025

Selling a house can be a long process, and it makes sense that the seller would want to know when the seller gets money after closing – especially if those funds are being used to purchase a new home. What needs to be done before settlement It typically takes between 30-60 days from accepting an offer on your home to closing a sale.

Closing

Redfin

JUNE 10, 2025

This can create a significant hurdle in real estate transactions, particularly for those navigating the market with Redfin’s platform and agents. Mortgage lenders typically base their financing on the appraised value or the purchase price , whichever is lower, directly impacting the loan amount.

Purchase and sale agreement

Redfin

JUNE 24, 2025

And if you’ve been renting a house or living in an apartment and now buying a home for the first time, the process might feel completely unfamiliar… In this Redfin article, we’ll explain each of the key closing documents and their importance to your purchase so you can grab your keys and get home quickly.

Closing

Redfin

JUNE 17, 2025

It can help you save on agent fees, offer the possibility of a gift of equity, and reduce or eliminate your down payment. A gift of equity is the difference between the fair market value and the sale price. On a $400,000 sale, that could mean saving about $20,000 in closing costs.

Purchase and sale agreement

Redfin

JUNE 9, 2025

Because lenders base loan amounts on the appraisal—not the purchase price— buyers are typically responsible for covering this difference out-of-pocket. Prices increasing fast: Prices rise quickly in hot markets but appraisals rely on older sales data that may not reflect the latest trends.

Purchase and sale agreement

Housing Wire

MAY 19, 2025

As builders struggle to close sales, resulting in declines in builder confidence and in company revenues, many have started to pile on buyer sales incentives. One-third of respondents increased some, most or all of their sales incentives. According to Webb, about 80% of his firms sales include an outside buyers agent.

Purchase and sale agreement

The Mortgage Report

JULY 22, 2025

A mortgage is a legal agreement between the lender and all borrowers. Unequal financial contributions: Alex and Leah purchased a condo while they were still dating. Refinancing comes with closing costs , which usually cost between 2% and 5% of the loan amount. In most cases, the answer is no. Time to make a move?

FHA 203k rehab loan

Redfin

JANUARY 28, 2025

Instead of applying for a new home loan with todays mortgage rates and terms, the buyer steps into the seller’s position as the borrower and continues making payments under the original loan agreement. Both the buyer and seller must work closely with the lender to ensure compliance with the loans terms and approval requirements.

Loans

Redfin

JUNE 30, 2025

Key takeaways: In most home purchases, the buyer’s agent delivers the offer to the seller’s agent, who then presents it to the seller If you don’t have an agent, you must submit the offer yourself—ideally with help from a real estate attorney. A real estate offer is a formal, written proposal to purchase a home.

Earnest money deposit

HomeLight

JULY 22, 2025

A cash sale can be a helpful option if you’re short on time, facing financial challenges, or simply ready to move on. If you’re dealing with a tight timeline or just want a straightforward sale, selling to a house-buying company could be a smart move. Receive your offer in 24 hours and close in as few as 10 days.

Purchase and sale agreement

Redfin

AUGUST 5, 2025

Home buyers can legally purchase a home from their parents or any family member. Of course, this depends entirely on the circumstances of the sale, but you’ll likely avoid a bidding war. For the sale to work out, you may need to be ready to move in at the same time your parents are ready to move out. Can I buy my parents’ house?

Purchase and sale agreement

Redfin

JULY 3, 2025

Waiting until your divorce is finalized can help prevent legal or financial complications during your purchase, ensuring a smoother path to closing. Renting a home before buying can be a practical option if you need time to adjust to a single income, rebuild your credit , or save for a down payment and closing costs.

Debt-to-income ratio

HomeLight

MAY 29, 2025

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. Start with a home value estimate A smart first step to take when estimating the costs of selling your house in Kansas is obtaining a home value estimate.

Purchase and sale agreement

The Close

JULY 1, 2025

A home is the largest purchase most people will ever make, and many buyers rely on mortgage financing. However, some will struggle with getting approved for a loan, which is something that could result in the transaction falling through for you as a real estate agent. That’s where FHA loans can save the day for everyone.

FHA loan

HomeLight

MARCH 3, 2025

The most common request I get for as-is sales, are situations where a house is in significant disrepair. A seller [that] just doesn’t want to make repairs and wants to sell the house as-is, says Connor Dowd , a top-performing Rhode Island agent with 26 years of experience. Its much more common than you might think!

As-is

Redfin

JULY 17, 2025

Savings: Decide how much each of you can contribute from your savings towards the down payment, closing costs, and moving expenses. Emergency funds: Discuss how you’ll handle unexpected costs, such as repairs or sudden loss of income. It helps prevent misunderstandings and protects both parties if your relationship changes.

Purchase and sale agreement