The Close

DECEMBER 29, 2022

Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients. It might feel stressful, but handling contingencies well is actually a time when you, as the agent, can really shine.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

SEPTEMBER 30, 2021

Most of my sellers have a mortgage,” echoes Rebecca Carter, a top real estate agent in Knoxville, Tennessee. Here are the quick points to know on how to sell a house with a mortgage: You’ll use the proceeds from the sale of your home to pay off your existing mortgage balance. Subtract) agent commission fees (an average 5.8%

Mortgages 95

Mortgages Debt-to-income ratio Equity Closing costs 95

HomeLight

JULY 29, 2022

“One big thing that could delay closing is if, say, someone goes out two weeks before they close and they buy a car — or they buy all new furniture,” explains Pete Veres , a top-selling agent with 19 years of experience in Albuquerque, New Mexico. This can radically alter their debt-to-income ratio and jeopardize the whole deal.

Closing 102

Closing Purchase and sale agreement Title Home sale contingency 102

HomeLight

AUGUST 31, 2020

The trend is very, very, significantly rising,” shares Taylor Cresswell , a top real estate agent who sells 86% more properties than the average agent in Tampa, Florida. If you purpose the ADU as a rental and provide proof of tenancy, you can claim 75% of the monthly rental price as income. Settle in for the building period.

Debt-to-income ratio 93

Debt-to-income ratio Construction Loans Equity 93