Housing Wire

MARCH 1, 2021

But, to date, most of the streamlining has happened at the point of marketing and sales. In 2019, The MBA estimated that for depositories, 46% of retail origination costs were used to cover sales functions. It makes perfect sense, then, that the first priority for streamlining and improved efficiency would be sales.

Closing 352

Closing Marketing Title Title search 352

HomeLight

MAY 26, 2021

If you’re taking out a mortgage, your lender will arrange something called a home appraisal. But who pays for the appraisal? This guide will help you understand who pays for the home appraisal and why it’s important. What is a home appraisal? One piece of information your lender will look at closely is the home appraisal.

Inspection 93

Inspection Residential Due diligence Title search 93

RIS Media

JANUARY 18, 2022

A title search may reveal a lien on the property, the buyer may be unable to get financing because of a low credit score or high debt-to-income ratio, or the house may appraise for less than the agreed-upon price. What Is a Pending Sale? There are a lot of things that can go wrong. appeared first on RISMedia.

Debt-to-income ratio 98

Debt-to-income ratio Sales Title search Finance 98

Housing Wire

OCTOBER 29, 2020

We offer a span of comprehensive product options throughout the entire loan lifecycle and help manage loans from start to finish, including title searches, processing, underwriting, closing and disposing of them and even take them into the post-closing and servicing process. Every engagement is customized for each client.

Due diligence 410

Due diligence Mortgages Title search Loans 410

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.

Sales 60

Sales Home sale contingency Pre-approval Inspection 60

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?

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

C4D Crew

MAY 1, 2022

This article will guide you through one of the more important of those documents—the purchase and sale agreement. . Defining Purchase and Sale Agreements (PSAs). What’s In a Purchase and Sale Agreement? Barring a poor appraisal or sudden damage to the property, most purchase prices end up being the closing price.

Purchase and sale agreement 52

Purchase and sale agreement Sales Title Inspection 52

Realty Biz

JANUARY 9, 2024

From preparing your home for sale to negotiating offers, these tips will ensure a successful sale. Sometimes it stops their sale dead in its tracks until the errors are corrected. Understand the current market conditions, including recent sales, average time on the market, and pricing trends.

Purchase and sale agreement 96

Purchase and sale agreement Earnest money deposit Title search Title 96

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.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Fixed-rate mortgage 97

Norada Real Estate

APRIL 15, 2023

Definition of Under Contract The term “under contract” refers to the period after a seller accepts a buyer's offer, but before the sale is finalized at closing. However, if the buyer encounters financing issues, such as a low appraisal or loan denial, the under-contract period can be extended while they work to resolve the issue.

Earnest money deposit 98

Earnest money deposit Inspection contingency Title search Inspection 98

HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

Closing 104

Closing Backup offer Sales Inspection 104

Realty Biz

JANUARY 10, 2024

We explore everything you should know for a first-time house sale by answering frequently asked questions. Additionally, you'll need to prepare all necessary documents, such as disclosure forms and title deeds, to ensure a smooth transaction. Paying careful attention to these details leads to successful sales. Let's dig in.

Purchase and sale agreement 102

Purchase and sale agreement Seller disclosure Staging Title search 102

RIS Media

SEPTEMBER 21, 2020

Here are 15 homebuying terms you should become familiar with before you start your home search: . 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.

Pre-approval 90

Pre-approval Pre-qualification Title search Inspection 90

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? A short sale is anything but short,” cautions Sanders.

Short sale 103

Short sale Sales Purchase and sale agreement Banks 103

Redfin

JANUARY 26, 2022

One of these important pieces of paperwork is a purchase and sale agreement. . To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. What is a purchase and sale agreement? Who drafts the purchase and sale agreement? .

Purchase and sale agreement 57

Purchase and sale agreement Earnest money deposit Sales Title 57

Rent, Buy & Sell

JANUARY 20, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs. Make an honest appraisal of your own financial circumstances and use a mortgage payment calculator to determine what you can afford. Shop around for the best mortgage rates.

Title search 59

Title search Short sale Title Fixed-rate mortgage 59

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). The appraisal is lower than the purchase price. However, sometimes buyers submit an offer that’s higher than the appraisal value.

Closing 110

Closing Purchase and sale agreement Title search Earnest money deposit 110

Realty Biz

AUGUST 2, 2023

Additionally, understanding the closing process and utilizing additional resources and tools can streamline the sale. Setting the Right Price for a Quick Sale When selling your home quickly, one of the most critical factors is setting the right price. Overcoming common challenges is also vital.

Purchase and sale agreement 92

Purchase and sale agreement Title Staging Inspection 92

HomeLight

NOVEMBER 9, 2021

If you need to move even more swiftly than that, selling to an online direct buyer through a platform like HomeLight’s Simple Sale could take as little as 10 days. The Simple Sale process frees you of the hassle of staging your home and jumping through hoops for the buyer’s lender. Direct Buyer (Simple Sale). Traditional Sale.

Purchase and sale agreement 85

Purchase and sale agreement Home sale contingency Title search Inspection 85

Realtor.com

NOVEMBER 15, 2022

Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. “The buyer pays less than they would have otherwise, and the seller increases demand for their home and speeds up the sale process.”.

Seller concession 121

Seller concession Purchase and sale agreement Closing costs Title search 121

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. HomeLight’s Simple Sale platform provides cash offers for homes in almost any condition across the country. How long does closing take from here?

Closing 111

Closing Purchase and sale agreement Pre-approval Inspection 111

Realty Biz

APRIL 20, 2022

The language in the offer to purchase will allow you to escape the sale with your money back. They will remove the appraisal contingency that is inherent with getting a mortgage. There can be appraisal issues at times because of this. Home Sale Contingency. Items Included in the Purchase.

Purchase and sale agreement 105

Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 105

HomeLight

NOVEMBER 10, 2021

The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. of the sale price (for simplicity, let’s round up to 6%) covered by the seller in the majority of home sales. For reference, on a $250,000 home sale, that amounts to $15,000 in commission fees.

Closing costs 99

Closing costs Closing Title Title search 99

Windemere Buying

AUGUST 31, 2022

Contingencies protect buyers and sellers against these natural characteristics of the home buying process and any problems that may arise before a home sale is finalized. Buyers are responsible for securing financing , having the home inspected, and getting the property appraised. Appraisal Contingency. Home Sale Contingency.

Home sale contingency 52

Home sale contingency Inspection contingency Title Pre-approval 52

Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. From appraisal issues to home inspection roadblocks, there’s a lot that can go awry before finally closing on your property. The home appraisal is lower than the sale price.

Closing 62

Closing Title search Purchase and sale agreement Title 62

Realty Biz

JULY 1, 2023

Step 6: Ensuring Clear Title When buying a home, ensuring a clear title is paramount. This involves conducting a thorough title search, which examines public records to verify the property's ownership history and identify any potential liens, encumbrances, or legal issues.

Purchase and sale agreement 75

Purchase and sale agreement Earnest money deposit Title search Pre-approval 75

HomeLight

JANUARY 3, 2022

Top iBuyer companies include Opendoor, Offerpad, Redfin Now, and HomeLight (we offer iBuying services through our Simple Sale platform). An agent-assisted sale is likely to benefit from the competition of the open market in which buyers make connections with homes and often bid with their emotions. All of this takes time.

Agents 93

Agents Title Inspection Title search 93

Windemere Selling

MARCH 14, 2022

Image Source: Getty Images – Image Credit: fizkes Appraisal Contingency An appraisal contingency states that the home must appraise for, at minimum, the sales price. This can be an issue in certain markets where demand is driving prices up to numbers that appraisals don’t reflect.

Purchase and sale agreement 52

Purchase and sale agreement Home sale contingency Inspection contingency Pre-approval 52

Lighter Side of Real Estate

JULY 26, 2023

Ideally the appraisal is ordered quickly to give the appraiser time to put it on their schedule and do all of the work it takes to finalize their opinion and report. Then they can give you a better sense of how much time it’ll take given the current market conditions, available houses for sale, and your personal circumstances.

Title 80

Title Closing Inspection Title search 80

Redfin

APRIL 13, 2021

Lenders require PMI ( Primary Mortgage Insurance ) on Conventional loans if the borrower does not put at least 20% of the sales price toward the down payment. The appraisal provides the lender with an independent opinion on the value of the home. The appraisal provides the lender with an independent opinion on the value of the home.

Closing costs 66

Closing costs Closing Title search Title 66

HomeLight

APRIL 20, 2023

Some of these costs, such as surveys and recording fees, are one-time expenses related to the sale. For example, a motivated seller might consider covering part or all of the inspection and appraisal fees for a buyer in order to help close the deal. Example estimate based on a $420,000 median-priced New Jersey home.

Closing costs 78

Closing costs Closing Title search Inspection 78

HomeLight

APRIL 15, 2022

We also include information about HomeLight’s Simple Sale platform, an online home-selling program that provides competitive all-cash offers for homes across the country. Consider starting with HomeLight’s Simple Sale platform, available nationwide. Request a Cash Offer from Simple Sale. What is an iBuyer? Request Cash Offer.

Title 84

Title House Flipping Title search Sales 84

HomeLight

APRIL 13, 2023

This carries certain implications, however, if the house doesn’t appraise for the increased amount. 1.36% of the home’s final sale price in Nebraska, with an average of 1.32%. Sellers typically pay: 8%-10% of the home’s final sale price. An attorney is not required for real estate sales in Nebraska.

Closing costs 74

Closing costs Closing Title Title search 74

McKissock

JULY 26, 2022

This can be confusing, but it is essential to know which party is obligated to the purchase and sales agreement and when. Title search. Counter the counter offer. Reject the counter offer and walk away from the buyers. Sellers can only negotiate with one buyer at a time. Inspections. Availability of property insurance.

Purchase and sale agreement 81

Purchase and sale agreement Title search Inspection Construction 81

CT Homes

OCTOBER 28, 2021

Understanding who is responsible for paying these fees is crucial for properly valuing the sale as the buyer or seller. Especially for sellers who choose to leverage the payment of closing costs to quicken or simplify a sale, it can’t be assumed that the seller is getting off free within a successful transaction.

Closing costs 75

Closing costs Closing Purchase and sale agreement Title 75

HomeLight

AUGUST 29, 2022

As of June 2022, the median sales price of homes in Dallas county was $520,000. As of June 2022, the median sales price in Harris county was $241,500. As of June 2022, the median sales price in Travis county was $665,000. The median sales price for a home in Hood county was $330,000 as of June 2022. Order a title search.

Earnest money deposit 94

Earnest money deposit Title Inspection Title search 94

Realty Biz

FEBRUARY 1, 2024

Before submitting an offer, excellent agents will provide a market analysis with detailed comparable sales data. This research includes past sales, liens, or legal disputes that may impact the transaction. They may collaborate with title companies and other relevant parties to perform a title search.

Agents 69

Agents Due diligence Purchase and sale agreement Inspection 69