Redfin

MARCH 3, 2022

Sometimes when a homebuyer wants to close on the home as quickly as possible, it can lead to unrealistic contract dates. However, there are often unpredictable roadblocks that can arise during the closing process that will push back your closing and keep you from meeting your deadlines. There’s no judgment here as we’ve seen it all.

Closing 62

Closing Title search Purchase and sale agreement Title 62

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? What does Contingent Mean?

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

Housing Wire

MARCH 28, 2024

Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae. In 2022, the industry paid more than $596.1 million in claims. This is up from $474.4

Title 431

Title Due diligence Title search Industrial 431

HomeLight

DECEMBER 23, 2021

Perhaps the biggest myth is that the title to a home is an actual document stored in a drawer somewhere. So here’s a brief overview to keep the meanings straight when you buy or sell a home: Title is an abstract concept describing someone’s right to legal ownership and use of a property, including the right to sell it. Find Agent.

Title 109

Title Title search Bankruptcy Due diligence 109

HomeLight

OCTOBER 30, 2020

Real estate contract contingencies are commonly associated with getting a mortgage, as lenders tend to do their due diligence on a property before they’ll put up the money for it. If you’re looking to buy a home, you’ve probably heard that cash is kind of a big deal in real estate. But is the cash closing process always seamless?

Closing 112

Closing Inspection contingency Title search Purchase and sale agreement 112

HomeLight

APRIL 30, 2021

Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction. Because of the due diligence involved with issuing mortgages, it takes a lot longer to close on a home with one.

Due diligence 102

Due diligence Finance Proof of funds Earnest money deposit 102

HomeLight

AUGUST 31, 2021

Clear title: The cash buyer will require a title search to make sure that you can convey the property free and clear of any clouds or judgments against the property, such as mechanic’s liens, unpaid taxes, or boundary encroachments. Plus, you’ll save money on things like commissions, repairs, and closing costs.”.

Proof of funds 144

Proof of funds Investor Due diligence Closing 144

HomeLight

OCTOBER 29, 2020

Choosing a qualified agent and searching for the perfect home in terms of ideal size, location, price, and condition can already feel like a journey, but making an offer on a property is when the challenge really begins. Is it an understatement to say that buying a house can be a complicated process? Source: (JJ Badenhorst / Unsplash).

Purchase and sale agreement 79

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

JULY 31, 2021

When looking for properties to buy, he focuses on single- and multi-family homes rather than vacant land or mobile homes because they allow for “value-add.”. What you have is a house. What you need is cash. If only there were a way to — poof! Absent a magic wand, you do have the means to get cash for your home in quick order. Value-add’.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

SEPTEMBER 1, 2022

To get started on evaluating your financial situation, take a look at your credit score and determine where you land on the scale between poor and excellent. With 39 million people who call it home, California is the most populous state in the U.S. and ranks third in total area behind Alaska and Texas. But, it doesn’t have to be!

Earnest money deposit 95

Earnest money deposit VA loan FHA loan Loans 95

The Close

DECEMBER 29, 2022

And now we present the 131 real estate terms you need to know—and be able to define for clients—in 2023: 1031 Exchange. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. The catch is that they must sell one property and buy a similar one within a set time frame. Active contingent.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97