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 87

Pre-approval Pre-qualification Title search Inspection 87

HomeLight

JANUARY 3, 2022

However, there still are some contingencies to clear before they can close, such as the home inspection , the home appraisal , and the buyer’s lender approving their mortgage. Recent sales took a median of 30 days to close , with 25% of contracts in the past three months having a delayed settlement. Financing contingency.

Agents 92

Agents Title Inspection Title search 92

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 88

Probate sale Agents Sales Closing 88

HomeLight

MARCH 30, 2022

Dan Colofranson , a top real estate agent who sells properties 47% faster than the average agent in Cape Coral, Florida, says cash buyers can eliminate uncertainty, whereas mortgage-backed home purchases can come with delays or even deal breakers, such as low appraisals. “In Reduce the time it takes to close your sale.

Sales 93

Sales Investor Renovation Due diligence 93

HomeLight

APRIL 15, 2022

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. 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.

Title 82

Title House Flipping Title search Sales 82

HomeLight

DECEMBER 31, 2020

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. Navigate short sale or foreclosure hurdles and complexities.

Title 96

Title Short sale Inspection Closing 96

HomeLight

SEPTEMBER 1, 2020

You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”. Has the bank or lender attached any requirements or contingencies to the deal? Make sure the offer includes any important contingencies, such as an inspection contingency.

Banks 76

Banks Inspection contingency Inspection FHA loan 76

HomeLight

MAY 10, 2021

Advocating for your best interests in the sale, including on price and other contract negotiations. Negotiating repairs or price adjustments that may be feasible as a result of appraisals or inspections. A buyer’s agent is extra-skilled at negotiating buyer contingencies. Managing the transaction throughout the process.

Agents 103

Agents Inspection Brokerage Closing 103

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 93

Home sale contingency Sales Closing Short sale 93

HomeLight

DECEMBER 30, 2021

It could include important contingencies — like a home inspection — and the timeline to get them done. And the agent will also handle negotiations with the seller if (for example) an issue emerges during the home inspection, or the appraisal comes in low. In other states, agents handle writing up the purchase agreement.

Purchase and sale agreement 73

Purchase and sale agreement Title Short sale Closing 73

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 76

Closing costs Closing Sales Staging 76

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 90

MLS Backup offer Inspection contingency Purchase and sale agreement 90

HomeLight

FEBRUARY 16, 2023

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. Less hassle: You won’t need to worry about showings, open houses, fielding offers, negotiating, low appraisals, or the risk of the buyer’s financing falling through.

Purchase and sale agreement 80

Purchase and sale agreement Closing costs Closing Sales 80

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 85

Purchase and sale agreement Closing costs Closing Sales 85

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. Title search.

Closing costs 75

Closing costs Purchase and sale agreement Closing Staging 75

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. Certainty: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. Financing contingency. Title search.

Purchase and sale agreement 75

Purchase and sale agreement Closing costs Closing Inspection 75

HomeLight

AUGUST 31, 2020

Although you might hope to get a bargain in an REO sale, there’s no guarantee that you’re going to get a great deal. Order your own appraisal or at least get your agent to run a comparative market analysis for you. Get an inspection contingency so you can get out of the deal if there are serious issues that the bank missed.

Banks 92

Banks Inspection Inspection contingency Title 92

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 72

Closing costs Closing Sales Staging 72

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 75

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 75

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 85

Purchase and sale agreement Short sale Rent back Sales 85

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 78

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 78

HomeLight

SEPTEMBER 30, 2021

Once you accept an offer from your buyer, you’ll complete any additional steps to close such as the inspection and appraisal. At that point, they’ll need to contact the lender to complete a short sale, which is when you sell for less than what you owe.”. Accept an offer and open escrow.

Mortgages 99

Mortgages Debt-to-income ratio Equity Closing costs 99

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. Lenders almost always require an appraisal to fund a property purchase, and this step has become more time-consuming since the pandemic due to a backlog of appraisal requests.

Investor 98

Investor Finance Inspection Sales 98

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). Problem: The appraisal comes in low.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

APRIL 21, 2022

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. If you accept it, your sale can close in as few as 10 days, often concluding with a moving date of your choosing.

Inspection contingency 105

Inspection contingency Home sale contingency Pre-approval Agents 105

HomeLight

OCTOBER 27, 2021

If you’re going to be buying the preforeclosure with a mortgage, your purchase agreement is contingent on your ability to secure a loan, so getting preapproved is important. Step 10: Get the home appraised. Be aware that appraisal issues could come up, depending on the condition of the home. Step 11: Title review.

Purchase and sale agreement 85

Purchase and sale agreement Inspection Homeowner’s association Title 85

HomeLight

AUGUST 24, 2022

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. Another big benefit of selling for cash in Florida is the opportunity to bypass the appraisal process. How to find cash buyers in Florida. Hot market pushes offers higher.

Purchase and sale agreement 103

Purchase and sale agreement Title search Proof of funds Title 103

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 73

Purchase and sale agreement Closing costs Closing Agents 73

HomeLight

MAY 24, 2022

Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. A cash buyer can skip everything related to a mortgage, from the home appraisal to income verification, which saves them a ton of time. Appraisal: 15 minutes to 5 days.

Purchase and sale agreement 103

Purchase and sale agreement Closing Title search Title 103

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 93

Closing costs Home sale contingency Investor Closing 93

HomeLight

MAY 27, 2021

Closing costs: These are the fees you’ll have to pay at closing and include charges for the appraisal and recording fees required by your city or county. Underwriting has many steps , such as reviewing your finances, making sure the house appraises, and confirming you get homeowner’s insurance. Step 10: Clear the appraisal.

Loans 80

Loans Mortgages Title FHA loan 80

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 81

Closing costs Purchase and sale agreement Closing Sales 81

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. They do this by: Researching outlier comps to include or exclude (Foreclosures, short sales, etc.). Communicate through the inspection and appraisal. The buyer’s financial health (mortgage pre-approval, down payment size, etc.). An all-cash offer.

Closing 90

Closing Due diligence Agents Staging 90

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 75

Closing costs Closing Sales Staging 75

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 73

Purchase and sale agreement Closing costs Closing Agents 73