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Top 10 ways to get homebuyers to work with you

Housing Wire

In today’s market, having a preapproval, at the minimum, is a must. Have the best, most-detailed lender’s letter or proof of funds so your offer won’t be tabled because it’s too vague or boilerplate. With a changing market, home inspections are now becoming a secondary point of negotiation.

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Surprising Things You Should Know About Cash Homebuyers

Realty Biz

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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Buyers Paying Over Asking Price? Get an Appraisal Gap Guarantee

HomeLight

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. How is the appraised value of the home determined? What is an appraisal gap?

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Appraisal Gap: When a Home’s Value Is Lower

Rent, Buy & Sell

Sometimes your mortgage lender’s appraiser says the house is worth less than you agreed to pay. This is known as an appraisal gap or a low appraisal. What happens when the appraisal is lower than the offer? Walk away, if you have an appraisal contingency in your purchase contract. Renegotiate with the seller.

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Shed the Limiting Beliefs that Hold You Back with Buyers!

Lab Coat Agents

The perfect storm of opposing forces has created a market unlike any we have ever seen – record low inventory and record demand from millennials aging into the market, as well as historically low interest rates have created a true “Seller’s Market” leaving Buyers battered and bruised from the fight for houses.

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Buying Your House With Cold, Hard Cash? Here’s Your Step-by-Step Guide

HomeLight

But if your cash is socked away in various places, like stocks or money market accounts, you’ll want to cash out those accounts and gather your money together. Once you’ve figured out where the money is coming from, it will be easier to take the next step: getting proof that you have the cash. Obtain proof of funds from the bank.

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Tempted by a Cash Offer for Your Home? Dissect It With This Guide

HomeLight

Cash offers are becoming more common, especially in this extremely competitive market,” Latif says. A cash offer may come from a homebuyer with liquid funds who wants an edge over the competition. Compare the offer against your home’s fair market value. Cash offers are often lower than the market value of your home.