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5 tips for buying a home in a seller’s housing market

Housing Wire

Here’s how Dannielle Hale, chief economist for Realtor.com, put it in her recent 2021 forecast: “The housing market in 2021 will be much more hospitable for buyers as an increased number of existing sellers and ramp-up in new construction restore some bargaining power for buyers, especially in the second half of the year.”.

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How to Protect Your Earnest Money When Buying a House

HomeLight

Before you submit your bid, it’s important to understand what an Earnest Money Deposit (EMD) is, how you can use one to strengthen your offer, and how to protect your money should anything come up during your home-buying process. In higher-priced or competitive markets, deposits can reach up to 10%.

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Ready to Sign the Purchase Offer for Your House? Here’s How to Read the Fine Print

HomeLight

A real estate purchase offer typically includes the following items: A description of the property and its condition What fixtures and appliances are included (or not) The amount of the earnest money deposit The prospective closing date Terms of possession Any contingencies that must be met before the sale is finalized.

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The No. 1 Reason Homebuyers Are Moving Farther Away From the Big Cities

Realtor.com

The features they’re most willing to forgo include man caves and pools/spas followed by guesthouses, in-law suites, and new construction. About 28% plan to put more than 20% down when they make offers, and 21% will increase their earnest money deposits. It was taken in late March and early April of this year.

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Helping Clients Buy a Home Before They Sell

The Residential Specialist

Experts offer strategies to help clients who need to buy their next home before the sale of their original home is final By Myrna Traylor There are many reasons why a seller might want to secure the purchase of a new primary home before selling their current residence. I have a way of finding that out,” she says. I am not moving.

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Should I Waive a Home Inspection? Why Buyers Are Willing To Right Now

Realtor.com

You might have to forfeit the earnest money deposit you’ve put down with your offer, but not necessarily if you’ve worded your contract right. And even if you do lose your deposit, it might pale in comparison to paying for whatever required repairs the home inspection brings to light.

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Your Guide to Buying a Home in the Sunshine State of Florida

HomeLight

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. She adds that Florida also has numerous down payment assistance programs, many of which are tied to state bond money.