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HomeLight
SEPTEMBER 30, 2020
If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.
Redfin
JANUARY 25, 2021
Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider. 1) Home inspection contingency. As the buyer you should always order a home inspection. 2) Appraisal contingency. 3) Financing contingency. 4) Home sale contingency.
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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. These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them.
Dwell Real Estate
JULY 10, 2020
In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If An earnest money deposit tells a seller that the buyer is serious about closing. Earnest money remains in an escrow account or with the title company until the real estate sale closes.
Dwell Real Estate
JULY 10, 2020
In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If An earnest money deposit tells a seller that the buyer is serious about closing. Earnest money remains in an escrow account or with the title company until the real estate sale closes.
Redfin
MARCH 30, 2021
Practically speaking, you’re committed to your lender from this point forward, since there won’t be time to restart the mortgage process with a new lender and still meet the closing date shown in your purchase agreement. This includes finalizing the property you are purchasing. Average time: 7-14 days.
HomeLight
OCTOBER 30, 2020
But is the cash closing process always seamless? A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. Cash purchases, too, can get held up by a range of potential delays. Why do sellers love cash so much? Because it’s fast. Not always!
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