Housing Wire

MAY 13, 2021

As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. Due to tight inventory and increased competition, investors need to close on loans quickly. How does this impact originators? It could pose a real challenge.

Loans 233

Loans Bankruptcy Investor Short sale 233

HomeLight

DECEMBER 2, 2021

One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale? Your agent will also ensure that all additional legal guidelines required in a short sale are followed.

Short sale 79

Short sale Sales Loans Banks 79

HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” How it can delay closing. Easy, right? Yeah, not so much.

Closing 106

Closing Purchase and sale agreement Title search Earnest money deposit 106

HomeLight

MAY 24, 2022

Sellers tend to prefer all-cash offers because those deals close more quickly. Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. But just how long does it take to close on a house with cash, compared to a traditional loan?

Purchase and sale agreement 101

Purchase and sale agreement Closing Title search Title 101

HomeLight

DECEMBER 1, 2021

Closing costs generally run 1% to 1.5% of the loan amount, although no closing cost options exist (that is, they’ll be lumped in with your principal or you’ll pay a higher rate). Short sale: selling when you owe more than your home is worth. That is, unless your lender agrees to a short sale with a deficiency waiver.

Purchase and sale agreement 103

Purchase and sale agreement Short sale Loans Mortgages 103

HomeLight

JANUARY 13, 2022

In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found. So he knows all the twists and turns that can occur between an accepted offer and a closed sale. Financing contingencies. Financing contingencies may also be called loan contingencies.

Backup offer 76

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 76

HomeLight

OCTOBER 29, 2020

We’ll explore what buyers can do to help strengthen a contingent offer and secure a spot at the closing table. That’s why financed offers come with appraisal contingencies — the loan can’t clear until the home has been appraised and the lender knows they’re not lending you too much for the home. Buyer financing. Home appraisals.

Purchase and sale agreement 78

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 78