RIS Media

SEPTEMBER 21, 2020

Appraisal : An educated and well-documented valuation of a home, prepared by a licensed and certified appraiser. Value is based on data about comparable homes in the area, as well as the appraiser’s walk-through. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction.

Pre-approval 61

Pre-approval Pre-qualification Title search Inspection 61

HomeLight

JANUARY 3, 2022

In addition, the risks of a settlement cancellation or delay are higher with a traditional sale, especially if the buyer is purchasing the home with a mortgage. They also don’t want the hassle of renting out their old home or carrying two mortgages. When agents and iBuyers work together. All of this takes time.

Agents 94

Agents Title Inspection Title search 94

HomeLight

MARCH 30, 2022

Whether you’re an investor looking for a speedy sale so you can move on to your next deal or a homeowner trying to unload a property quickly to avoid financial strain, you’re in search of real estate cash buyers to purchase your house without a lengthy or uncertain process. Reduce the time it takes to close your sale.

Sales 95

Sales Investor Renovation Due diligence 95

HomeLight

SEPTEMBER 30, 2021

You’d like to sell your current home, but the mortgage isn’t paid off yet. Consider that most mortgages come with 15 or 30 year terms, while 52% of recent sellers sold before owning their home for 10 years, according to data from the National Association of Realtors. Next, find out how much you owe on your mortgage.

Mortgages 100

Mortgages Debt-to-income ratio Equity Closing costs 100

HomeLight

JUNE 23, 2023

When you’re selling property in probate, it’s especially critical to hire a listing agent with experience handling probate sales and who’s familiar with the probate processes of your state. home inspectors , contractors , residential appraisers ) who also understand the nuances of probate. Why does that matter?

Probate sale 90

Probate sale Agents Sales Closing 90

HomeLight

APRIL 15, 2022

They find this offer to be satisfactory and are able to close in days without mortgage lender involvement. If an iBuyer wants to purchase your home, they’ll offer you cash in as little as a few days and you know the deal won’t fall through due to a financing or appraisal contingency. Financing contingency.

Title 84

Title House Flipping Title search Sales 84

HomeLight

SEPTEMBER 1, 2020

When a homeowner stops making mortgage payments , eventually the bank will foreclose on their house, and the property will become bank-owned. The steps in between the first missed mortgage payment and a bank-owned foreclosure follow a pattern like this: The homeowner fails to make at least three consecutive months of mortgage payments.

Banks 78

Banks Inspection contingency Inspection FHA loan 78

HomeLight

DECEMBER 31, 2020

A Georgia home seller had fallen on hard times and missed a few mortgage payments. Statistics from the National Association of Realtors show that 30% of closings in October 2020 were delayed because of complications, including issues related to financing, appraisals, home inspections, titling, distressed property, or contract contingencies.

Title 97

Title Short sale Inspection Closing 97

HomeLight

DECEMBER 30, 2021

Not only is a home a large financial purpose, but the clauses in your purchase agreement and mortgage agreement also can greatly impact your future. In some states, you could have three attorneys involved — the buyer’s attorney, the seller’s attorney, and the mortgage lender’s attorney — in a purchase and sale. Condominiums.

Purchase and sale agreement 75

Purchase and sale agreement Title Short sale Closing 75

HomeLight

NOVEMBER 10, 2021

iBuyers leverage online appraisal technology to determine a home’s value and what they’re willing to pay. Opendoor buys homes of varying condition, but criteria like a short sale, unpermitted work, or dated materials may impact whether the company is willing and able to purchase a home. But most will allow you to sell “as is.”

Home sale contingency 95

Home sale contingency Sales Closing Short sale 95

HomeLight

AUGUST 31, 2020

A bank-owned home, also known as “real estate owned” (or REO for short), refers to properties that have been foreclosed with the ownership transferring to the bank or lender. It gets to that phase after the borrower defaults on mortgage payments for a period of time. So you’ll want to confirm that the price is fair.

Banks 93

Banks Inspection Inspection contingency Title 93

HomeLight

FEBRUARY 28, 2022

Lenders may not agree to provide financing for homes that fail to meet minimum property standards as evaluated by a home appraiser. So if your concrete driveway has become cracked due to the clay soil and dry weather, or if you have tree roots penetrating your sewer line, it could delay the sale or cause your contract to crumble.

Closing costs 78

Closing costs Closing Sales Staging 78

HomeLight

FEBRUARY 16, 2023

Perhaps you have a new job offer out of state and don’t want the stress of leaving a mortgage behind. Maybe you’ve inherited property that’s not in the best shape, and a quick sale is the simplest way to settle the debts of an estate.

Purchase and sale agreement 82

Purchase and sale agreement Closing costs Closing Sales 82

HomeLight

AUGUST 24, 2022

They specialize in short sales, so sellers who have fallen behind on mortgage payments may take extra interest in their expertise. Certainty: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. May need to lower the price if appraisal comes in low.

Closing costs 77

Closing costs Purchase and sale agreement Closing Staging 77

HomeLight

AUGUST 10, 2022

Founded in 2014 , We Buy Houses Hotlanta is a family-owned operation that advertises Creative Real Estate and Short Sale certifications on their website. It’ll also buy from sellers in any situation such as being upside down on a mortgage. May need to lower the price if appraisal comes in low. Financing contingency.

Purchase and sale agreement 77

Purchase and sale agreement Closing costs Closing Inspection 77

HomeLight

JULY 6, 2023

Let’s sort through how potential buyers and their agents view statuses such as “real estate pending” vs. “contingent,” so you can present your home accurately and still meet your selling goals. Learn More Contingent or pending, you’re under contract! Enter the difference between “contingent” and “pending.”

MLS 92

MLS Backup offer Inspection contingency Purchase and sale agreement 92

HomeLight

DECEMBER 6, 2022

They specialize in foreclosures and short sales. More certainty: With a pre-offer walk-through, a house-buying company can provide a firm cash offer that comes with few contingencies, or no contingencies at all. May need to lower your asking price if the appraisal comes in low. Financing contingency.

Purchase and sale agreement 87

Purchase and sale agreement Closing costs Closing Sales 87

HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. What on earth does active contingent mean? In this guide, we’ll take the term “active contingent listing” and break down what it means. What does active contingent mean?

Backup offer 77

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 77

HomeLight

FEBRUARY 17, 2022

Certainty: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. Less hassle: You don’t have to deal with staging, open houses, fielding offers, negotiating with picky buyers, worrying about the appraisal, or stressing about the buyer’s financing falling through. Title search.

Closing costs 74

Closing costs Closing Sales Staging 74

HomeLight

MAY 27, 2021

But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. No one daydreams about filling out mortgage applications, and the process is complicated because you have to keep track of so many details and make so many choices. Source: (Matthew Henry / Burst).

Loans 82

Loans Mortgages Title FHA loan 82

HomeLight

OCTOBER 1, 2020

But after the appraisal, the tides have turned — the price initially seemed right, but the appraiser doesn’t feel the same way. Do you know how to negotiate with a seller after a low appraisal? A low appraisal presents an opportunity for you to negotiate with the seller. Figure out why the appraisal is low.

Purchase and sale agreement 86

Purchase and sale agreement Short sale Rent back Sales 86

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death).

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

OCTOBER 29, 2020

And that’s before buyers even start thinking about steps like making a contingent offer. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies. What is a contingent offer? Negotiable contingencies.

Purchase and sale agreement 79

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

DECEMBER 30, 2021

The only thing that stands between you and a sale is the appraisal. Here’s our cheat sheet with the answers you need to ace your appraisal. Before the appraiser comes: Checklist 1 – Do your homework. Before the appraiser comes: Checklist 1 – Do your homework. Understand the role of an appraiser.

Loans 117

Loans Agents Inspection Closing 117

HomeLight

JANUARY 4, 2022

Below are some of the types of non-institutional buyers who may have the cash on hand to transact without a financing contingency: The creative buyer. HomeLight’s 2020 agent survey found that buyers who would traditionally use a mortgage are finding ways to pay cash however they can. You want certainty of the deal closing.

Investor 98

Investor Finance Inspection Sales 98

HomeLight

APRIL 21, 2022

You found your new home and want to avoid carrying two mortgages. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Contingencies : Various types of purchase contingencies can delay a sale.

Inspection contingency 106

Inspection contingency Home sale contingency Pre-approval Agents 106

HomeLight

OCTOBER 27, 2021

A home is in preforeclosure when the owner has stopped making mortgage payments for several months and their loan is delinquent or in default — so the owner is approaching foreclosure. In fact, the homeowner might even have a plan to catch up on the mortgage, and in the end, the home won’t end up in any kind of sale.).

Purchase and sale agreement 87

Purchase and sale agreement Inspection Homeowner’s association Title 87

HomeLight

AUGUST 24, 2022

However, this buyer needs a mortgage to finance the deal, and that can take months. By contrast, a cash sale can be wrapped up in as few as 7 to 10 days since the transaction doesn’t require a lender’s involvement. Skip the appraisal. mortgage process. Inside the Florida cash home buyers market.

Purchase and sale agreement 105

Purchase and sale agreement Title search Proof of funds Title 105

HomeLight

MAY 24, 2022

Mortgage interest is tax-deductible , and many homeowners appreciate the deduction. If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. With a mortgage, the bank verifies that the buyer has the down payment available to close.

Purchase and sale agreement 104

Purchase and sale agreement Closing Title search Title 104

HomeLight

MARCH 21, 2022

Generally trade-in companies will offer to buy your current home, freeing up your funds to buy a new home and removing the need for a home sale contingency. In doing so, sellers are generally able remove the home sale contingency from their offer to better compete in the market. Orchard Move First. Local investors.

Closing costs 95

Closing costs Home sale contingency Investor Closing 95

HomeLight

JANUARY 6, 2023

They provide a cash offer within 48 hours of evaluating the property and work with issues such as probate, foreclosures, short sales, tenant-occupied homes, or homes that need extensive repairs. May need to lower your asking price if the appraisal comes in low. Financing contingency. House Solutions USA. Title search.

Purchase and sale agreement 75

Purchase and sale agreement Closing costs Closing Agents 75

HomeLight

JANUARY 10, 2023

Lenders may not agree to provide financing for homes that fail to meet minimum property standards as evaluated by a home appraiser. Appraisal. A traditional appraisal is not required, but many companies will use their own analytics to come to a fair price. May need to lower the price if appraisal comes in low.

Closing costs 83

Closing costs Purchase and sale agreement Closing Sales 83

HomeLight

AUGUST 16, 2021

This means that the homeowner stopped making payments on their mortgage, and the bank seized the property to recoup the funds. Given the various types of mortgages that are available, the auction process may differ depending on whether the loan on the house up for auction was government-backed or a conventional loan. Minimum bid.

Title 108

Title Due diligence Finance Inspection 108

HomeLight

JULY 31, 2021

turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. They look for motivated sellers who want to close quickly and avoid the potential complications of financing or sale contingencies, even if it means accepting a lower offer price,” he explains.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

MARCH 19, 2022

Few (or zero) repair requests, contingencies , or seller concessions. The buyer’s financial health (mortgage pre-approval, down payment size, etc.). They do this by: Researching outlier comps to include or exclude (Foreclosures, short sales, etc.). Communicate through the inspection and appraisal.

Closing 92

Closing Due diligence Agents Staging 92

HomeLight

FEBRUARY 28, 2022

Lenders may not agree to provide financing for homes that fail to meet minimum property standards as evaluated by a home appraiser. Appraisal. A traditional appraisal is not required, but many companies will use their own analytics to come to a fair price. May need to lower the price if appraisal comes in low.

Closing costs 77

Closing costs Closing Sales Staging 77

HomeLight

JANUARY 19, 2023

In addition to the standard “We buy for cash” program, Florida Cash Home Buyers offers sellers package deals that include helping sellers with needed repairs in order to net a higher sale, with longer contingency periods and extended closing dates. They also have curated package options that cater to individual seller needs.

Purchase and sale agreement 75

Purchase and sale agreement Closing costs Closing Agents 75