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Preparing to Get Pre-Approved For a Mortgage

Realty Biz

Mortgage pre-approval is an essential step when buying a house. It gives you a clear understanding of your budget and helps you make informed decisions when searching for properties. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details.

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8 Essential Steps to Navigating Escrow in Home Buying

Realty Biz

The National Association of Realtors (NAR) conducted a survey in October 2022, revealing that approximately 7% of deals in the preceding three months got terminated before reaching the closing stage. During this stage, the buyer, seller, or their respective agents select an escrow agent who will oversee the process.

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Can You Put an Offer on a House That’s Contingent?

RIS Media

Real estate listings go through different stages. While financing may be pre-approved, the process is complex. The title search reveals issues. Whenever you’re purchasing real estate, a title search is one of the standard boxes that must be checked. The title needs to be clean.

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Tips for Buying a Foreclosure Property

Point2Homes

If you’re thinking about how to buy a home that’s in foreclosure, be sure to do your research because there are extra stages involved. Getting Pre-Approved. It’s always advisable to get pre-approved for a mortgage in any home purchase so you can make sure that you can actually get the loan that you believe your income justifies.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. For example, if a home sale is contingent or pending, can you still make an offer? What does Contingent Mean?

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New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

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What Is an REO Property, and How to Buy One?

Point2Homes

Before a property becomes an REO, it goes through several stages: Payment default: the owner of the property fails to make a payment on their mortgage loan. The best way to avoid this scenario is to get pre-approved with the lender selling that property. This is where REOs come into play. What Is an REO Property?