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How Long Can a House Be Under Contract?

Norada Real Estate

Additionally, the type of financing being used, such as FHA or VA loans, can also impact the length of the under-contract period. It's important for buyers and sellers to have a clear understanding of the expected duration of the under-contract period and to communicate any concerns or issues with their real estate agent.

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51 Brilliant Real Estate Tips for Buyers to Edge Past the Competition

HomeLight

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Hiring an agent. Hiring an agent is a big deal. First things first: Don’t skip hiring an agent!

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How Long Does It Take to Close on a House From Start to Finish?

HomeLight

Conventional loan. The seller’s portion of closing day usually takes one to two hours , according to Sherry Wiggs , a top real estate agent in Westchester County, New York. Big banks typically have a lot more internal red tape to deal with before they’re able to fund a loan and write a check. Appraisal (23% of delays).

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When Is a House Down Payment Due and How Much Do I Need?

HomeLight

As we mentioned, your lender will need to see that you do actually have the money as part of your loan approval process — a current bank statement will usually suffice — but you won’t need to transfer it out until closing day. Real Estate Agent. Real Estate Agent at Berkshire Hathaway HomeServices, PenFed Realty Texas.

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Your Top 11 Questions About Down Payments, Answered (Including: What’s an Average Down Payment?)

HomeLight

Agents say the ongoing demand for houses is being heavily driven by people fleeing more expensive areas of the country. While most people have heard that 20% down is some kind of standard, many are unaware that it is possible to buy a home with as little as 3% down — or even no money down, depending on the loan requirements.

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How to Buy a House in the Bay Area: 14 Steps to Close the Sale

HomeLight

With the help of top Bay Area agent Carl Medford , who has 22 years of experience and specializes in helping first-time homebuyers, we’ve put together a comprehensive guide that breaks down all the ins and outs of buying a house in the Bay Area. Find the FHA loan limit for homes in the county you are looking to purchase here.

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Your Ultimate Guide to Buying a Home in Connecticut in 14 Steps

HomeLight

With the help of top agent David Landau , who works with 68% more single-family homes than the average agent in Newtown, Connecticut , we’ve put together a comprehensive guide that breaks down all the ins and outs of buying a house in the Constitution State. VA loans : For veterans, service members, and surviving spouses.