Housing Wire
FEBRUARY 14, 2024
Also, BBYS products make homeowners competitive bidders because they can submit non-contingent offers that can compete with cash offers, which made up one-third of winning offers in Q4 2023. HW: What strategic and regulatory concerns should lenders who want to offer ‘buy before you sell’ be considering?
HomeLight
OCTOBER 11, 2021
Instead, they have to get the bank to agree to forgive the difference between what they owe on the house and the agreed-upon sales price. With a short sale, the bank is the one accepting the offer,” he says. The bank is the one who will ultimately be losing money on the deal, so they have to approve it.” .
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HomeLight
JANUARY 13, 2022
In other words, the primary deal on an active contingent listing might (maybe) fall through, causing sellers to place their home back on the market — or accept a backup offer. “I You’ll likely need this type of contingency even if you’ve been preapproved for a mortgage as that process does not guarantee that you’ll get a loan.
HomeLight
DECEMBER 31, 2020
It’s also important to avoid crossing dividing lines, like highways or vastly different neighborhoods, as those would not be included in a bank appraisal,” he says. You want to have a “backup offer” in case the regular listing process doesn’t work out. Understand your agent’s pricing strategy. Check the FHFA HPI calculator.
HomeLight
DECEMBER 30, 2021
According to the National Association of Realtors® Research Group’s 2021 data , 64% of buyers have conventional loans, 16% have FHA loans and 14% received VA loans. After you accept an offer, the buyer’s mortgage lender typically contacts a third-party appraisal management company (AMC ). And, it pays to be flexible.
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