Realty Biz

AUGUST 3, 2020

With home buyers facing tougher competition this year amid ongoing housing shortages, some are trying to gain an edge by waiving contingencies to make their offers look more enticing. Redfin said this week that almost 20% of successful offers submitted by its agents in June in select U.S. who did so in June 2019. In addition, 20.6%

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Windemere Buying

APRIL 12, 2023

Real Estate Agent You’ll be represented by a buyer’s agent throughout the home buying process. When searching for a real estate agent, ask questions to gain an understanding of their professional expertise as well as their personality. Mortgage Lender You need financing to buy a home.

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HomeLight

JANUARY 3, 2024

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

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HomeLight

DECEMBER 29, 2023

In this brief guide, we’ll provide an overview of what it means to make a non-contingent offer, its benefits, risks, and when it might be the right strategy for you. Partner With a Top Buyer’s Agent to Guide You HomeLight can connect you with a top-rated local real estate agent familiar with non-contingent offers.

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Redfin

AUGUST 4, 2021

Keeping track of the differences between a listing agent, selling agent, seller’s agent, and even buyer’s agent can be a bit challenging, so learning to quickly recognize what these terms refer to in real estate can help you move forward confidently with buying or selling your home. What is a listing agent?

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Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. Mortgage Financing Clause.

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HomeLight

MARCH 23, 2021

You may wonder, what does a real estate agent even do? According to the National Association of Realtors®, 88% of homebuyers purchased their home in 2020 through a real estate agent , and for good reason. Real estate agents are essential advocates through the homebuying process. What is a real estate agent?

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Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? If agents can get the seller to agree to cover closing costs, the buyer is more inclined to seal the deal and can then focus on other important tasks that go into buying a home. You are certainly not alone. In some areas of the U.S.,

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HomeLight

SEPTEMBER 9, 2020

Buying a house with cash has plenty of benefits — for one thing, you’ll be mortgage-free, which means you won’t be beholden to a monthly mortgage payment (sounds pretty nice!). That’s because “a buyer purchasing a home with a mortgage loan could still lose their financing, even with a solid preapproval letter. Find your house.

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RIS Media

MAY 19, 2021

When your real estate agent puts your home in the multiple listing service, it will have an “Active” status. ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Financing or Mortgage Contingencies.

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Realty Biz

MARCH 13, 2024

While rising prices and mortgage rates present challenges, it’s still possible to find your dream home with the right strategy. 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.

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HomeLight

FEBRUARY 14, 2024

From cash offers to working with top real estate agents, we’ll cover the essentials to help you confidently move forward. Unlike conventional sales that often involve mortgages and can be bogged down by lender-required inspections and appraisals, a cash sale moves quickly.

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Realty Biz

SEPTEMBER 2, 2021

Since selling your home can be a lengthy process that involves choosing an agent, estimating costs, preparing your home , setting the price, and finally finding the right buyer, the consequences of a mistake along the way can have wide-ranging implications. . Choosing the Wrong Agent. Most agents’ commission is negotiable.

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Point2Homes

DECEMBER 23, 2021

An escrow agent will oversee this account, releasing the funds to go toward paying for the home if everything goes according to plan. Often, a title company or real estate agent might act as the escrow agent responsible for managing the funds as agreed upon in the contract. Buyers Escrow. Escrow & Lenders.

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Realty Biz

DECEMBER 5, 2022

Let's look at what you need to know about home inspection negotiations. How to Negotiate Problems Found at a House Inspection. What Will Happen After a Home Inspection? The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues.

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RIS Media

APRIL 12, 2021

Buyers usually have a house inspected before they proceed with a purchase. The exact language related to a home inspection contingency can vary from one contract to another. In some cases, a contingency gives the buyer the option to request repairs, a repair credit or simply walk away.

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Realty Biz

FEBRUARY 20, 2021

Most buyers will have a home inspection contingency in their contract. In extreme seller’s real estate markets, it is not uncommon for buyers to waive a home inspection as a way of sweetening their offer. Real Estate Contingencies Explained. Home sale contingencies are often frowned upon due to their risky nature.

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Realty Biz

DECEMBER 31, 2020

There will be another important snag for people that are on-the-edge of being able to qualify for a mortgage. Because limited inventory means lenders will be approving a limited number of mortgages, lenders will be able to cherry-pick the ones they approve. You should think long and hard before waving the inspection contingency.

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HomeLight

JUNE 29, 2021

Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. A cash offer won’t always be the best deal,” says Enas Latif , a top real estate agent who sells homes 62% quicker than the average Harris Hill, New York agent. “A Source: ( Pexels / Pixabay ).

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Realty Biz

JULY 7, 2021

There may be rare local circumstances where this will work but it should only be based on the advice of a trusted real estate agent. Before you write up your offer, have your agent contact the selling agent to learn if there are other offers on the house. Minimal or no contingency clauses.

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HomeLight

JULY 31, 2020

With the help of Brad Graves , a top real estate agent in San Antonio, Texas , and some recent national home purchase data, we’ll examine the pros and cons of all-cash offers. To be clear, an all-cash offer means you won’t be getting a mortgage loan for any portion of the sale. Pro #1: Limited contingencies.

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HomeLight

NOVEMBER 29, 2021

These are called contingencies, and they’re very common in a real estate sales contract. They’re basically in every purchase agreement ,” says Rick Ruiz , a top real estate agent in Las Vegas, Nevada , who completes 15% more sales than the average Las Vegas. Financing contingency. Inspection contingency.

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Windemere Selling

MARCH 14, 2022

When selling your home, a buyer may make their offer with contingencies attached. Here are some common contingencies you might see in a buyer’s offer and what they mean for you. Even if a buyer is pre-approved for their mortgage , they may not be able to obtain the right loan for the home.

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Realty Biz

JANUARY 9, 2024

From experience, many potential sellers need the guidance of skilled agents. Working with an experienced real estate agent can significantly ease the selling process. The difference between having a good and lousy real estate agent is monumental. Never underestimate the importance of how your home stacks up to the competition.

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Point2Homes

DECEMBER 7, 2020

If your ability to afford the mortgage payments on the home you want to buy is causing you concern, buying a foreclosure home may make a lot of sense. If a homeowner fails to keep up with their mortgage payments, the lender can begin foreclosure proceedings, and the sale of foreclosed homes can sometimes be a bargain to home buyers.

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The Close

FEBRUARY 6, 2024

I contacted the listing agent only to learn that all offers were due by 5:00 p.m. Offer Above Asking Price When your buyers are competing with others in a multiple-offer situation, and the listing agent is asking for the “highest and best” offer, it’s a good idea to suggest offering more than the asking price.

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Realty Biz

JULY 6, 2022

Real Estate agents need to be proactive and set proper expectations with the seller clients. A real estate agent should always be cognizant about over promising and under delivering. One of the statistics real estate agents often talk about is the list price to sale price ratio. Not doing so can lead to severe disappointment.

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Realty Biz

OCTOBER 19, 2022

Sometimes the lender requires a home inspection to be completed, which shouldn't be confused with a home appraisal which is almost always required. Even if the lender doesn't require the home inspection, it is recommended. If the home was built before 1978 and you have children under the agent of six, it is wise to test for lead paint.

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Redfin

JANUARY 25, 2021

Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider. 1) Home inspection contingency. As the buyer you should always order a home inspection. 2) Appraisal contingency. 3) Financing contingency. 4) Home sale contingency.

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HomeLight

AUGUST 29, 2022

Another plus is that Texas doesn’t have state income tax, according to Rach Potter, who sells homes 44% quicker than the average agent in Dallas, Texas. If you plan on applying for a mortgage, your lender will want to see at least two years of steady employment or business ownership if you’re self employed.

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First Team Real Estate

AUGUST 8, 2021

The only way around re-listing is to accept backup offers, so during the planning phase of your home sale, talk to your listing agent about the pros and cons of backup offers. Approximately 25% of all escrows fall through because of inspection contingencies, lending hiccups, appraisal surprises, and more.

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Windemere Selling

JANUARY 19, 2022

Closing Costs for Buyers Typical mortgage-related closing costs for buyers include an application fee, an underwriting fee, and prepaid interest (the accrued interest cost between your settlement date and first monthly payment). Two main property-related closing costs for buyers are the appraisal and the home inspection.

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HomeLight

MARCH 31, 2022

To succeed in getting a seller to consider your offer, you need to work in advance with your real estate agent to assess the best bargaining tools to entice the seller to move your offer to the top of the list. For instance, getting preapproved for a mortgage is imperative in the 2022 tight market. Here are some pathways to consider.

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Realty Biz

AUGUST 22, 2022

In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. I didn’t even include an inspection contingency. Ask your agent or lawyer to point out the cancellation clauses. You don’t want two mortgage payments. Now I have buyer’s regret.

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HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. We tapped the expertise of top Illinois real estate agent Jen Ortman , who walked us through some of her best advice for buyers. Hiring an agent. Hiring an agent is a big deal.

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Redfin

JULY 30, 2020

Redfin agents cite health concerns around the pandemic and competition fueled by a worsening housing shortage as reasons more buyers are bidding on homes before visiting them. They sent a Seattle-based relative to attend an in-person showing and the pre-inspection, submitted an offer at 6:20 p.m.

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Windemere Buying

AUGUST 31, 2022

Common Real Estate Contingencies. Home Inspection Contingency. If they discover issues with the property, this contingency allows you and your agent to present the seller with a new offer that accounts for the home’s lessened condition, or to cancel the contract entirely. Financing Contingency.

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