HomeLight

NOVEMBER 1, 2021

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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Purchase and sale agreement Proof of funds Backup offer Finance 104

Real Trends

DECEMBER 27, 2022

How often does a pending home sale fall through? A pending sale may be referred to as “under contract” by some real estate agents. A sale is considered pending until the seller formally accepts an offer from a buyer. It should be reassuring for all real estate agents that not many home sales fall through.

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Realty Biz

FEBRUARY 16, 2024

Buyers, investors, sellers, and the go-between, real estate agents, brokers, appraisers, etc., In that case, you can educate yourself and gain experience in an alternative real estate domain , such as an attorney, teacher, video marketing specialist, or appraiser. You need to finish a state-approved pre-licensing real estate course.

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Housing Wire

NOVEMBER 13, 2023

In Florida, getting licensed as a real estate agent begins with the completion of an approved 63-hour Sales Associate prelicensing course. Final Exam: In order to earn your FREC Approved 63-Hour Real Estate Prelicensing Education Certificate, you need to take and pass a course final exam. Chapter Quizzes. 1 Year Course Access.30-Question

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Realtor.com

AUGUST 13, 2020

Step 1: Getting mortgage pre-approval. Still other buyers might also be home sellers who first need to close on the sale of their old house before they can buy their next house. If problems crop up—with the home inspection, appraisal, mortgage, or other things—then the real estate buying process could take even longer.

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Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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HomeLight

FEBRUARY 12, 2021

As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. The appraisal process for FHA loans is stricter. If you have an FHA loan backed buyer, expect a thorough appraisal process.

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FHA loan Loans Pre-approval Pre-qualification 109

Dwell Real Estate

AUGUST 20, 2021

In Sarasota’s real estate market today short sales are nearly unavoidable. I talk with buyers every day and many of them have questions about how short sales work, how they are different than regular sales, etc. Misconception: A cash offer will make a short sale move faster than an offer with financing. It depends.

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Realtor.com

APRIL 14, 2021

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at Homebridge Financial Services. Get pre-approved ASAP. Experts say p otential buyers should make pre-approval their first step. Understand appraisal gaps.

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HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. Until those contingencies are cleared, the house isn’t officially sold.

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Realty Biz

MARCH 13, 2024

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. Pre-approval provides a significant advantage by showing sellers you are a serious buyer with the financing ready to make a purchase.

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Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. How Buyer Agents Get Paid Buyer agents are typically compensated through a commission fee, a percentage of the property's final sale price. When choosing a buyer's agent, consider factors like experience and qualifications.

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Realty Biz

AUGUST 12, 2023

These can include title search fees, appraisal fees, attorney fees, and more. Loan-to-Value Ratio (LTV) : A ratio that compares the amount of the loan to the appraised value or sale price of the property, whichever is lower. Appraisal : An evaluation of a property's value by a professional.

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HomeLight

JANUARY 12, 2022

Next steps include the home inspection, appraisal, and final paperwork. 24, you can expect to close on the sale of your home somewhere between the end of February to mid-March. And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. So if you list your home on Jan.

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CT Homes

FEBRUARY 13, 2024

Cons : Possible need for temporary housing if there’s a gap between sales. Prepare your home for sale by decluttering, making necessary repairs, and staging it to appeal to potential buyers. Secure Mortgage Pre-Approval Knowing how much you can borrow is key when looking for a new home. We can close quickly!

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Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. Still, pre-approval is not a guarantee that a buyer will get a loan.

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Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

Windemere Selling

JULY 19, 2023

10 Important People in the Home Buying Process #2 Get Pre-Approved for a Mortgage Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount).

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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.

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Pre-approval Pre-qualification Title search Inspection 87

RIS Media

APRIL 8, 2022

Here’s all you should know about contingent sales as a potential home buyer. An active listing means the home in question is currently on sale, and sellers are actively open to offers. While financing may be pre-approved, the process is complex. Low appraisal. Contingent meaning. Home inspection problems.

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Housing Wire

NOVEMBER 30, 2023

A state-approved real estate school in Illinois, the CE Shop is constantly updating its course material to stay on top of industry changes. Visit Website Overview Colibri Real Estate is a licensed real estate education provider in Illinois with more than 132 instructors experienced in real estate sales and teaching best practices.

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HR Pre-approval Design Agents 421

CT Homes

FEBRUARY 3, 2022

A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. While the overall number has greatly declined in recent years, there are still a good number of short sale transactions happening every day.

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Easy Agent Pro

AUGUST 27, 2023

Finding the perfect home for your clients feels rewarding and makes up for all the work and time put into landing a sale. Submit Encourage Clients To Get Their Pre-Approval Letter Real estate agents can help summer buyers by encouraging them to get pre-approval letters.

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The Close

FEBRUARY 14, 2024

Home sale preparation is done like a dealership preps the cars for the lot. Preparing Your Home for Sale Myth #4: Your Home Should Reflect Your Personality Sellers, especially those who have lived in their home for decades, are attached. Sellers will ask, What are you doing to sell my home? Be prepared to answer this question.

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Realty Biz

AUGUST 22, 2022

In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. In a few short weeks, the market has gotten much softer in this neighborhood and I’m not even sure the house will appraise for my purchase offer. I didn’t even include an inspection contingency.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 97

RIS Media

APRIL 18, 2022

Look at recent sale prices, as well as neighborhood trends. Buyers are waiving their home appraisal or offering an appraisal gap guarantee. Get pre-approved for a mortgage. Before making an offer on a property, it’s important to have pre-approval for a mortgage. This one is a biggie.

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RIS Media

JANUARY 19, 2021

Before you start looking for your next home, you should get pre-approved for a mortgage. You don’t necessarily have to borrow money to buy a home from the same lender that pre-approved you. What is Pre-approval and Why is It Important? Pre-approval and pre-qualification are not the same thing.

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Pre-qualification Pre-approval Mortgages Finance 61

Windemere Buying

JULY 20, 2022

How to Win a Bidding War When Buying a House Get Pre-Approved for a Loan Not only is getting pre-approved for a mortgage an important step early on in the buying process, but it’s also a prerequisite for having your offer considered in a bidding war. Pre-approval gives you credibility as a buyer.

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Windemere Selling

JULY 12, 2023

Home Inspector Another important aspect of preparing your home for sale is being aware of what repairs it needs, which is why some sellers conduct a pre-listing inspection. Even if you don’t get a pre-listing inspection, a home inspector will enter the fold eventually. Buyers may choose to work directly with a mortgage lender.

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Housing Wire

NOVEMBER 30, 2023

Your path to real estate licensure begins with 120 hours of classes in an approved Ohio real estate license education program. Step 1: Complete the prelicensing education requirements Applying for an Ohio real estate agent license starts with fulfilling the 120-hour sales associate pre-licensing education requirement.

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Real Trends

OCTOBER 1, 2022

You might have it inspected and possibly not have to guarantee the appraisal gap. What do the new pending listings and sales tell you? Expect more appraisal issues in some markets. It’s not good enough to just be pre-approved. You’ll probably pay the list price instead of the over-list price.

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HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

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Point2Homes

SEPTEMBER 30, 2021

Real estate transactions often feature contingency clauses that allow both parties to back out of the sale under the circumstances stipulated in the contract. One common type you’ll encounter is a sale and settlement contingency. The Buyer Is Not Pre-approved for a Loan. If not, the deal falls through. Cash Purchases.

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Real Trends

AUGUST 8, 2022

The financing isn’t approved: Financing can fall through if the buyer doesn’t get approved for the loan, especially when interest rates rise and price them out of the market. The buyer can’t sell their home : Some deals have a home sale contingency meaning the buyer will only take the house if they can sell their existing home.

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Realty Biz

MAY 1, 2022

To make an informed decision, it’s important to understand the following: 1) What is the inventory of houses for sale? You don’t want to hang your hat on a seller looking at a pre-approval letter from some no-name lender. Waive The Real Estate Appraisal. 2) How low is the demand for houses?

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Purchase and sale agreement Rent back Pre-approval Inspection 145

Housing Wire

DECEMBER 7, 2023

After completing an approved course of study, you’ll be able to sit the state real estate exam. Colibri Real Estate is a state-approved real estate education provider with over 132 instructors experienced in Massachusetts real estate sales and teaching best practices.

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HomeLight

JUNE 21, 2022

But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal. It’s critical to know what home inspectors look for because serious problems could derail the sale altogether. Inspection versus appraisal.

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