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America’s most expensive home goes on sale, priced at $295M

Realty Biz

a $295 million, 105,000-square-foot mansion in Los Angeles’ Bel Air neighborhood has just gone on sale. If the home manages to fetch its $295 million asking price, it would set a new record for the most expensive home ever purchased in the U.S. 7 if it isn’t purchased beforehand. The most expensive listing in the U.S.,

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Ready to Apply For a Loan? You’ll Need This List of Mortgage Documents

HomeLight

The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. Together, these mortgage documents allow the lender to see if you have enough income to pay back the loan and determine whether you’re creditworthy. Bankruptcy discharge papers. Can you blame them?). Foreclosure documents.

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How to Determine if Rent-to-Own or a Mortgage is Best for You

Realty Biz

Rent-to-own is a contract between the homeowner and the buyer that sets aside a certain percentage of rent towards an agreed-upon home purchase price. Under these agreements, the buyer pays a slightly higher-than-average rental price as well as a one-time option fee between 3% and 7% of the total home price. Mortgage Pros and Cons.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

There’s a house for sale that you want to buy. Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. There are several ways that obtaining a loan by the closing date can be challenging. The appraisal is lower than the purchase price.

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What Does Clear to Close Mean, And How Much Longer Before I’m a Homeowner?

HomeLight

Bankruptcy documents. This, of course, depends on a few variables, such as getting preapproved for a mortgage, or whether you’re taking out an FHA or a VA loan, which may take a bit longer. (We The seller accepts your offer to purchase. Once the offer has been accepted, your real estate agent will draw up a purchase agreement.

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How Fast Can I Sell My House? It Can Take 75 Days or 12

HomeLight

If you need to move even more swiftly than that, selling to an online direct buyer through a platform like HomeLight’s Simple Sale could take as little as 10 days. The Simple Sale process frees you of the hassle of staging your home and jumping through hoops for the buyer’s lender. Direct Buyer (Simple Sale). Traditional Sale.

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Appraisal Definition: How Your Home Value is Determined and Why

HomeLight

Any additional information the appraiser used in the appraisal process, including market sales data, public land records, or tax records. According to Benson, homeowners sometimes contact her directly for an appraisal if they need to know how to price their home, if they’re getting ready to retire, or if they’re declaring bankruptcy.