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What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

It means the buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies.” The buyer may even be pre-approved by their lender, but there’s still work to be done before the financing officially comes through.

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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Two important statuses in the MLS are “Contingent” and “Pending.” Financing or Mortgage Contingencies. Contingent vs. Pending?

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Are HUD Homes a Good Deal? How to Tell If the Properties Are a Fit

HomeLight

You’re finally ready to purchase a home and after doing some research online, you think that exploring your options around how to buy a HUD Home might be a good fit for your lifestyle and finances. The HUD Home Store site is updated more frequently, while you may still see HUD properties on the MLS that are no longer available.

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11 Homeselling Myths, Debunked

The Close

After all, a new listing on the MLS gets the most attention in the first week. So, let’s turn up the brightness and shed some light on the real estate industry. It’s often the strongest in terms of price and conditions. However, I’ve seen it time and again: Sellers want to “hold out for a better offer.” Then interest starts to taper off.

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How to Make Your Offer More Competitive!

CT Homes

If you are using lender financing, the more money down the more likely your loan will be accepted. If you are using lender financing, the more money down the more likely your loan will be accepted. In addition to down payment on your loan you should consider increasing your Earnest Money Deposit (EMD).

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What Is a Real Estate Love Letter? Best Practices for Agents

The Close

Real estate love letters—take them or leave them? Agents tend to feel pretty strongly about these. As an agent, I’ve cautioned my buyers against them, but I’ve also won deals from using them. We’ll also look at a love letter example. What Is a Real Estate Love Letter? However, their use tends to surge during tight housing markets.

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16 Tips to Win a Bidding War on a House

The Close

The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. Offer a Sizeable Down Payment Make a big impression by offering a large earnest money deposit (EMD) to hold the contract.