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How to Determine if Rent-to-Own or a Mortgage is Best for You

Realty Biz

Here’s how to determine if rent-to-own or a mortgage is best for you. . Rent-to-own is a contract between the homeowner and the buyer that sets aside a certain percentage of rent towards an agreed-upon home purchase price. A portion of the rent goes towards the sale of the house when the lease agreement ends.

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Ready to Apply For a Loan? You’ll Need This List of Mortgage Documents

HomeLight

When you apply for a mortgage , you’re essentially asking a bank to hand you hundreds of thousands of dollars with the promise to pay it back over the next 15 to 30 years. The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. What are mortgage documents? Bankruptcy discharge papers.

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How Long it Takes to Close on a House

Realty Biz

Credit Unions and large banks sometimes take a bit longer than other mortgage lenders. The mortgage lender, home inspection process, and appraisal process can all bear the time frame for the closing. Getting a mortgage commitment from the lender. What Is The Time Frame For Closing on a Home? Having the property lines surveyed.

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9 Proven Strategies to Find Hidden Listing Inventory in 2022

The Close

Begin with an MLS search of the past 12 months’ sales in the area your client is looking. I know it works because I have personally purchased two properties, under market value, using this technique. In my 27 years as an agent and coach, I have never seen inventory this low. Download the Best FSBO Scripts. Talk to Top-producing Agents.

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Appraisal Definition: How Your Home Value is Determined and Why

HomeLight

Any additional information the appraiser used in the appraisal process, including market sales data, public land records, or tax records. Insurance companies use appraisals to value items in your home, such as your engagement ring, so they can provide adequate coverage. Home appraisal definition from Appraisal Institute.

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How Fast Can I Sell My House? It Can Take 75 Days or 12

HomeLight

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.

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Go-To Experts: Kris Lindahl Talks About the COVID-19 Wolf At the Door

Realty Biz

According to the Mortgage Bankers Association , just under four million American homeowners are in forbearance. Meanwhile, negotiations over a new stimulus package have yet to culminate in an agreement. Historically-low interest rates and a low inventory of homes for sale have helped the housing market remain robust.