Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. A homebuyer’s guide to a competitive housing market. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. Scenario 2: Your home appraisal comes in low.

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Housing Wire

OCTOBER 27, 2020

The real estate market is hot right now, and bidding wars are the norm in many parts of the country. It’s just one of the many reasons to think long and hard about making a contingent offer. It’s just one of the many reasons to think long and hard about making a contingent offer. Sellers can have contingencies, too.

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Housing Wire

OCTOBER 1, 2022

The real estate market has shifted, and we are in a new housing paradigm. However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. However, in many areas of the country it does remain a seller’s market. Historically 2.5

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Housing Wire

MARCH 22, 2021

And a recent Redfin study confirmed that it’s the only sure-fire way to win that dream house in a market this crazy. And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. You won’t win the bidding war.

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Inspection contingency Inspection Sales Mortgages 545

Housing Wire

APRIL 8, 2021

Outline your parameters, and where you can be flexible: Key points to consider communicating in an offer include the expiration date of your offer, any contingencies that may void your offer, and, of course, the purchase price you’re willing to pay for the home. In an extremely competive market?

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Housing Wire

MAY 20, 2022

Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Bluffton, South Carolina. Greenwich, Connecticut. Gillette, Wyoming.

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Realty Biz

OCTOBER 20, 2023

However, amidst the excitement of finding the perfect property, there's a crucial step that many homebuyers might overlook or not fully understand - the home appraisal. In this article, we will take a closer look at why homebuyers might need a home appraisal and how this process can play a pivotal role in the real estate transaction.

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Purchase and sale agreement Inspection Finance Loans 120

Keeping Current Matters

JULY 23, 2021

The language of buying and selling a home may sound scary at first, but knowing how key terms relate to today’s market can help you. Terms like appraisal (what lenders rely on to validate a home’s value) and contingencies (which buyers can minimize to make their offer stand out) directly impact the transaction.

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Housing Wire

JULY 29, 2022

Fast-rising home prices and interest rates coupled with a slipping economy helped to cool the nation’s housing market in June leading to a nearly 2% increase in the number of homes on the market. You’ll do more harm than good if you overprice and have to do a price reduction or take the home off the market.”. year over year.

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Housing Wire

MAY 18, 2021

“I started as an agent up here in 2009, and I’ve been saying since then the only thing that would slow down the market would be some sort of national or international event,” said Pullin, a managing broker at Skyline Properties. They’re even waiving appraisals. It’s just a crazy competitive market.”

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Realty Biz

JULY 11, 2022

The offer will spell out all of the common terms and conditions such as the offer amount, what you’re financing, any contingencies, and the closing date. One of the vital discussions you will probably have with your real estate agent is surrounding the real estate appraisal. Add or Waive an Appraisal Contingency.

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Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. Home Appraisal.

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HomeLight

JUNE 9, 2023

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

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HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer? While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. Sellers are often wary of this clause.

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Housing Wire

DECEMBER 8, 2023

In today’s market, having a preapproval, at the minimum, is a must. Guide them through escrow Once you’ve won the offer, help your clients through the contingencies, inspections, the appraisal process and the final walk-through. With a changing market, home inspections are now becoming a secondary point of negotiation.

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Realty Biz

JANUARY 4, 2024

One of the more researched topics in real estate is appraisals. Whether you are buying or selling a home, it is essential to have a firm grasp of home appraisals. From nearly forty years of experience as a Realtor, buyers and sellers should have at least a basic understanding of real estate appraisals and what they entail.

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FHA loan Construction Renovation Loans 109

Windemere Selling

OCTOBER 9, 2023

One of the most important figures to understand as you get ready to sell your home is Fair Market Value (FMV); it is key to a successful home sale. We’ll break down what Fair Market Value is and why it plays such a crucial role in the home selling process. What Is Fair Market Value? Pricing your home accurately is paramount.

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Housing Wire

JUNE 23, 2021

“I’ve never seen anything like this housing market,” said Scott Petrich, a Seattle-area Redfin agent. housing market prices and conditions, and is available just 15 days after each month ends. They’re even waiving appraisals. It’s just a crazy competitive market.”. a year earlier. Presented by: Radian.

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RIS Media

DECEMBER 28, 2023

The last couple of years were an unprecedented time in the market. With buyers making all-cash offers well over the asking price as well as waiving appraisal contingencies and inspections, it was unlike anything anyone in the industry had seen before.

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Housing Wire

OCTOBER 1, 2021

But for the past 12 months, the metro’s housing market has been in complete chaos. “It The Provo-Orem market is growing at a faster rate per capita than really anywhere else in the state of Utah, including our capital, Salt Lake City.”. above the list price and sat on the market about 11 days before going pending.

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Realty Biz

SEPTEMBER 11, 2023

During this stage, various contingencies, inspections, and other conditions may need to be met before the sale is finalized. Many sales will never make it to the closing due to various contingencies. Real Estate agents make the status of houses contingent when a contract has been executed. This can disrupt the sale process.

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HomeLight

OCTOBER 24, 2023

Whether you’re a first-time seller or a seasoned pro, the appraisal process used to determine your home’s fair market value can be a little intimidating. Lenders require the appraisal to ensure they’re not loaning the buyer more money than the value of the home. All an appraiser is, is a glorified reporter.

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Realtor.com

JULY 13, 2021

In our current seller’s market, the national inventory of active listings is down 43.1% year over year, according to the Realtor.com June 2021 Housing Market Trends Report. But some buyers in especially tight markets are taking even riskier measures to beat out competitors: They’re removing contingencies.

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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. What contingencies might be attached to ‘under contract’ listings? It sounds pretty straightforward, right?

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Realty Biz

AUGUST 22, 2022

That’s probably why the price was a little below the market average. Yeah, I’ve been studying the market for a while and knew what houses were selling for. I didn’t even include an inspection contingency. While it is not yet a buyer’s market, buyers are in a much better place than they were a few short months ago.

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HomeLight

MARCH 7, 2024

This comprehensive document details everything from the purchase price, down payment, and financing terms to contingencies, closing dates, and any specific conditions both parties must meet before the sale can be finalized. She says buyer’s remorse is something she’s seeing more often in the current housing market.

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RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. What about houses listed as “contingent?” Can a home listed as contingent fall through? Low appraisal.

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Realty Biz

JULY 25, 2023

There may still be contingencies that need to be met, such as a home inspection or appraisal. If one of these contingencies is not met, then the sale can still be halted for the specific reasons set out in the contingency. Contingencies are conditions that must be met in order for the sale to go through.

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Point2Homes

OCTOBER 20, 2021

Home appraisals are a vital part of most real estate transactions — and it doesn’t matter if you’re planning on selling your home or purchasing one first. Either way, you’re going to encounter a home appraisal contingency at some point. Note that a home appraisal and home inspection are not the same things.

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Earnest money deposit Loans Inspection Lending 145

Norada Real Estate

APRIL 15, 2023

The length of time a house can be under contract can vary, but understanding the contingencies and obligations during this period can help both parties prepare for a successful closing. Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing.

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Realty Biz

MARCH 13, 2024

This article explores the key factors home buyers need to know about the Maryland housing market this year. 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. Consider keeping your finance contingency for your protection.

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Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? The early '22 market is already showing it'll be as tight or tighter than the '20 & '21 markets, buyers are tossing off all constraints to "win" the beauty contest of buying a home. Appraisals below contract price will continue to be a challenge in 2022.

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Realty Biz

DECEMBER 15, 2022

A Low Appraisal Can Torpedo the Sale. An appraisal is part of securing financing for the property. If it comes in low: The buyer can get a second appraisal. Even with a solid appraisal, financing is not guaranteed. Contingencies Must Be Met. The most common types of contingencies include: Sale of a buyer’s home.

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Realty Biz

JULY 7, 2021

There may not be enough houses on the market right now, but more are coming on the market every day. When the market demands it, your highest offer should be at the high end of the market analysis. In today’s market, a good strategy is looking at houses below the top end of your budget.

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Realty Biz

SEPTEMBER 15, 2023

Cash sales remain strong, even as the real estate market recovers from the low housing inventory and soaring mortgage rates. Such buyers use proceeds from their previous home sale to pay all cash for a home in a cheaper market. Lenders must appraise the property to reduce their financial risk if the home goes to foreclosure.

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Proof of funds FHA loan Investor Finance 110

Realty Biz

MARCH 27, 2022

If you are trying to buy a home in a seller’s market, offering the asking price may not be enough. Housing markets across the country have been disrupted due to a number of factors including the Covid-19 Pandemic. Any proposal full of contingencies or seller concessions isn’t going to look as good. Make a Strong Bid.

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Realty Biz

NOVEMBER 10, 2021

Is Buying a Contingent Home Possible? It can take a long time to find your perfect home, but just when you think your search is over, you might discover that it is listed as a contingent house. So can you still offer on a contingent home, or have you missed the chance to buy your perfect property? Home Inspection Discoveries.

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