Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? As Realtors, we had to think creatively to help our sellers sell their homes. To think outside the box, some Realtors began using seller concessions. You are certainly not alone. In some areas of the U.S., In some areas of the U.S.,

Seller concession 72

Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown? How does a 2/1 rate buydown work?

Seller concession 433

Seller concession Loan Officer Closing costs Mortgages 433

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. I’ll explain later.) Rate buy-downs are another option I recommend in this market.

Agents 394

Agents Seller concession Closing costs Mortgages 394

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month.

Mortgages 393

Mortgages Seller concession Fixed-rate mortgage Loans 393

Housing Wire

FEBRUARY 9, 2021

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. In this situation, your lender approves your loan amount without much hassle. When this happens, your lender will only loan you up to the appraised value.

Earnest money deposit 450

Earnest money deposit Seller concession Loans Lending 450

HomeLight

FEBRUARY 16, 2024

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. The most experienced agents know how to safeguard your earnest money and time. Here’s how you can beat a contingent offer and move one step closer to securing your future home.

Pre-qualification 98

Pre-qualification Seller concession Pre-approval Closing costs 98

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. a loan officer in Washington noted.

Mortgages 319

Mortgages Loan Officer Marketing Seller concession 319

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers.

Marketing 464

Marketing Loan Officer Seller concession Loans 464

HomeLight

MARCH 5, 2024

In this post, we’ll provide clear insights and examples to help you decide if requesting a seller assist is the right strategy for your home purchase. A Top Agent Can Find the Right Deal For You HomeLight can connect you with a top-performing, trusted agent who has the experience to find you the right house at the right price.

Seller concession 64

Seller concession Closing costs Title Closing 64

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown? How does a 2/1 rate buydown work?

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

Real Trends

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. I’ll explain later.) Rate buy-downs are another option I recommend in this market.

Agents 99

Agents Seller concession Closing costs Mortgages 99

HomeLight

JUNE 16, 2022

It’s usually easier to sell a home when you partner with a reliable agent. A top real estate agent from California, Robert Lopez, who’s an agent with Team Z , explains the value a real estate agent brings to your home sale, “Your agent takes on photography and marketing. Seller concessions.

Seller concession 90

Seller concession Closing costs Inspection Agents 90

HomeLight

JUNE 14, 2022

Real Estate Agent. Real Estate Agent at Compass. The average DOM in Chicago suggests a stable market for buyers and sellers. Santiago Valdez is a HomeLight Elite Agent who sells homes more than 56% quicker than the average Chicago agent. Seller concessions. Buyer’s agent fee $10,950 (3%).

Seller concession 95

Seller concession Purchase and sale agreement Closing costs Title 95

HomeLight

DECEMBER 2, 2021

We detail what costs you’re likely to incur and what sellers pay on average. Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Seller concessions.

Seller concession 115

Seller concession Staging Inspection Renovation 115

Realty Biz

JULY 31, 2023

Improve Your Credit to Lower Your Down Payment All lenders price their loans based on perceived risk. Consider a secured credit card (which holds a little cash as collateral), or a “credit builder loan” (essentially a loan to yourself, held in escrow by the “lender,” who reports your monthly payments as if they’re for a regular loan).

Seller concession 80

Seller concession Closing costs Renovation Equity 80

HomeLight

JUNE 14, 2022

What are common expenses for home sellers in Seattle? Ann Nordling , a top real estate agent from Seattle who works with over 70% more single-family homes than the average area agent, notes the cost to sell a house in Seattle will vary on a case-by-case basis within a changing market. Buyer’s agent fee: $22,127-$26,553.

Seller concession 106

Seller concession Closing costs Agents Closing 106

Housing Wire

JANUARY 13, 2023

Training LOs and getting on sales calls with real estate agents, insurance agents and wealth managers are what Cohen is prioritizing to drum up sales in a market where he expects rates to be in the 5% levels. Kim: So would you say it’s a seller’s market right now? Kim: Are you optimistic for a better year with rates going down?

Pre-approval 383

Pre-approval Marketing Seller concession Mortgages 383

HomeLight

MAY 31, 2022

Next, we did some research and spoke with Jesse Allen , a top agent who sells over 50% more quickly than the average Jeffersonville , Indiana, agent, in order to break down how to calculate how much money you might walk away with after selling your home. Real estate agent commissions or fees: Averaging 5.8% Input Address.

Seller concession 120

Seller concession Closing costs Staging Sales 120

HomeLight

MAY 3, 2023

“Depending on the price range of the home, I tell my clients that they need to be ready to spend 9%–10% of the sale price on selling costs, including the real estate agent commission and closing costs,” says Joanne McCoy , a top-selling real estate agent in Lincoln, Nebraska. It’s customary for the seller to pay both.)

Seller concession 107

Seller concession Purchase and sale agreement Inspection Title 107

HomeLight

JANUARY 29, 2021

Additional closing costs may include any seller concessions, attorney fees, and the buyer’s agent’s commission. Beyond these closing costs, FSBO sellers cover expenses normally included in a listing agent’s commission, such as marketing costs. You’re still likely on the hook for the buyer’s agent commission.

Closing costs 98

Closing costs Closing Seller concession Title search 98

HomeLight

NOVEMBER 1, 2021

To explore the potential drawbacks of paying for buyer closing costs as the seller, we spoke with Tara Limbird , an Arkansas-based agent who heads a team of real estate pros that was nationally ranked at the top one half of 1% of Realtors®. Loan fees, including the origination fee and discount points. Loan payoff amount.

Closing costs 83

Closing costs Closing Seller concession Purchase and sale agreement 83

HomeLight

SEPTEMBER 27, 2022

Nevertheless, Gina Candelario , a top agent who works with 78% more single-family homes than the average San Antonio, Texas, agent, says sales are good and it’s still a seller’s market. To illustrate, if you sold your Texas Craftsman home for $325,000, the seller’s costs could range from $22,750 to $26,000.

Seller concession 73

Seller concession Closing costs Homeowner’s association Title 73

HomeLight

APRIL 14, 2023

A Top California Agent Can Reduce Your Costs Partner with a top California buyer’s agent who can help you navigate your homebuying journey and reduce the final amount you’ll pay at closing. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.

Closing costs 96

Closing costs Closing Purchase and sale agreement Title 96

HomeLight

NOVEMBER 30, 2022

With this shifting landscape in mind, arguably the most important first step in your homebuying journey is knowing how to pick a real estate agent. According to a National Association of Realtors report, 86% of buyers said their agent was a useful source of information when navigating the homebuying process. Get Started.

Agents 107

Agents Purchase and sale agreement Technology Seller concession 107

HomeLight

APRIL 17, 2024

They also estimate 1% in seller concessions if you list with them, but there’s no cancellation fee. In normal home sales, many real estate agents are negotiating rent-back periods for home sellers. You can both apply for a mortgage loan for a new purchase and refinance an existing mortgage. Trustpilot : 4.6

Seller concession 103

Seller concession Inspection Rent back Closing 103

HomeLight

MARCH 31, 2021

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Seller credits are money the seller gives the buyer at closing.

Closing 95

Closing Seller concession Sales Closing costs 95

HomeLight

JULY 12, 2022

Besides your mortgage payoff, homeowners typically incur a number of costs in selling a home — whether they work with an agent or offer the property for sale by owner (FSBO). Real Estate Agent. Real Estate Agent at Compass. Research shows sellers usually recoup about 50% to 70% spent on major renovations. Michael Kennedy.

Seller concession 101

Seller concession Closing costs Renovation Title search 101

HomeLight

JUNE 24, 2022

Contacting a local agent in your market is the most effective way of finding a true market evaluation,” says Marissa Papa , a Connecticut real estate agent with 18 years of experience. It’s a very prudent part of the process as an experienced agent can provide a comparative market analysis.”. Agent commission.

Seller concession 86

Seller concession Closing costs Inspection Homeowner’s association 86

Realty Biz

JANUARY 19, 2024

Interviewing and selecting a buyer's agent and choosing a mortgage lender and real estate attorney are vital steps. Research different types of mortgages available, such as conventional, FHA, or VA loans. This will give you a better understanding of the loan amount you qualify for and the potential monthly payments.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

Lighter Side of Real Estate

DECEMBER 13, 2023

They’re often willing to pay more for the house, and expect to raise their offer, but when they come in too low it can get a seller so angry that they won’t budge as much as they would have, or even respond at all sometimes.

Seller concession 107

Seller concession Home sale contingency Closing Closing costs 107

HomeLight

OCTOBER 20, 2022

Together with local expert and HomeLight network real estate agent Hillary Smith , we’ll look at some of the quirks of the local market. Smith, who has sold 100% of her listings and does so more than 43% faster than the average Austin agent, knows what it takes to get the job done. Partner With a Top-performing Austin Agent.

Seller concession 94

Seller concession Purchase and sale agreement Closing costs Inspection 94

Windemere Selling

JANUARY 19, 2022

Lenders will require an appraisal to double-check that the value of the property matches your mortgage loan amount, which will typically cost you a few hundred dollars. Working with a Buyer’s Agent will help you stay organized as you navigate through these crucial final steps of your home purchase.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

HomeLight

NOVEMBER 7, 2022

Together with local expert and HomeLight network real estate agent Shawn Manderscheid , we’ll look at some of the quirks of the local market. Manderscheid, who sells properties more than 56% quicker than the average agent in the Houston market, knows how to close the deal efficiently. Real Estate Agent. Find Agent.

Seller concession 87

Seller concession Purchase and sale agreement Closing costs Inspection 87

RIS Media

FEBRUARY 28, 2022

According to the report, consumers gained an advantage when working with a Power Buyer versus using a traditional mortgage with a loan contingency. Flyhomes launched a national expansion as ‘Flyhomes for Agents,’ rolling out in several states.”. Using a Cash Offers program, homebuyers averaged just 1.1

Seller concession 94

Seller concession Loan contingency Mortgages Loans 94

Realty Biz

MARCH 27, 2022

If you want to give yourself a better chance of having your offer accepted, making it as clean and straightforward as possible will appeal to the seller. Any proposal full of contingencies or seller concessions isn’t going to look as good. Consulting with your real estate agent on what has been typical will be crucial.

Purchase and sale agreement 116

Purchase and sale agreement Earnest money deposit Seller concession Finance 116

HomeLight

APRIL 29, 2021

We’ll break down seller closing costs with insight from Peggy Centrella , a top Delaware real estate agent ranked in the top 5% of real estate agents in her market area. Loan payoff amount. Loan payoff includes the remaining principal and interest owed up until closing. Real estate agent commission.

Closing costs 62

Closing costs Closing Seller concession Homeowner’s association 62

Realtor.com

DECEMBER 1, 2022

High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front. “Demand is low,” says Brandy Aguirre , a real estate agent at Home Key Realty in the metro Phoenix area.

Mortgages 120

Mortgages Seller concession Closing costs Sales 120