Realty Biz

JUNE 7, 2021

What Is The Time Frame For Closing on a Home? One of the more popular questions asked from buyers and sellers is how long it will take to close on a house. When buying or selling a home, you feel relieved once the process closes and you have the home keys handed over to you. Hence, the closing timeline depends on your lender.

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HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Pennsylvania (PA)? Your closing costs may differ depending on your circumstances and the terms of your home purchase. Home inspections, earnest money, mover’s fees…the costs of buying a home in Pennsylvania can add up.

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HomeLight

JULY 25, 2022

The days or weeks between signing off on the contract and actually sitting down at the closing table are rife with obstacles and potential setbacks — it’s not called the closing “process” for nothing! But what about after you’ve closed on the home? Don’t quit your day job.

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Housing Wire

JANUARY 14, 2021

Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings.

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HomeLight

JULY 5, 2023

It’s no secret that the mortgage industry isn’t super transparent about closing costs. According to a February 2017 report from ClosingCorp, more than half of homebuyers surveyed were surprised by their closing costs. Here’s what you need to know about closing costs, and some major fees to watch out for: Step one: Talk to an expert!

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Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. It’s rarely advisable to waive an inspection contingency. Clear the title.

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HomeLight

SEPTEMBER 30, 2020

These properties are typically sold as-is, without the option to negotiate repairs, and as the buyer, you’re unlikely to get the seller and their lender to agree to cover your closing costs. If you’re interested in a short sale opportunity, get a better idea of what you’re in for and what closing costs you can get covered.

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HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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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.”. With a cash sale, you can skip a few steps in the typical closing process.

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HomeLight

JULY 29, 2022

Closing on a house is a thrilling time for buyers : Once you’ve found the one and have an accepted offer, you’re ready to grab the keys and make it your own. But closing time can also be plenty to rack your nerves. What can go wrong on the buyer’s side at closing. Problem: There’s an issue with the Closing Disclosure.

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Housing Wire

FEBRUARY 21, 2023

Lenders who are modernizing across the entire scope of the origination journey — digitizing processes from application and title through close and post-close — are building unprecedented momentum for their businesses. Closing – Automation speeds the generation of closing documents and reduces errors in post-close review.

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HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The closing process fills several weeks as you navigate through multiple steps to make it to the closing table. How long does the house closing process take?

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Housing Wire

APRIL 11, 2023

They ensure that all conditions of the sale have been met and manage the disbursement of funds at closing. The buyer must wait for bank approval, secure financing, complete inspections and perform last-minute walk-throughs to ensure all necessary documents and requirements are being processed.

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Redfin

JULY 30, 2020

You may be surprised to know that home inspection costs can vary widely from state-to-state. What it costs for a house in New York, NY to be inspected most likely will be different than a home in Portland, OR. Why do you need a home inspection? How much does a typical home inspection cost? .

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HomeLight

MAY 27, 2021

And while you understand that a home inspection and appraisal are integral to selling your house, it’s easy to forget how these processes work. Costa is also the author of “ What Every Realtor Should Know About Home Inspections: A Guide to Avoiding Traps and Common Mistakes ”. What is a home inspection? What is an appraisal?

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Housing Wire

JUNE 9, 2022

With a fixed rate for as many as 20 years, RenoFi’s fixed-rate home equity loan provides 100% of the funds, as much as $500,000, directly to the homeowner at the time of closing, according to a news release from the startup. The new product is an addition to RenoFi’s variable rate HELOCs, which allow homeowners to borrow against their equity.

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. Something has to give.

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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

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HomeLight

JULY 31, 2022

It’s important to distinguish that appraisals are not intended to be a home inspection. While an appraisal is not in the same category as the more in-depth home inspection, different mortgage types (such as conventional loans or government-backed FHA , USDA, or VA loans ) have different minimum property standards.

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Housing Wire

JUNE 24, 2021

If a homebuyer can’t close on their mortgage in time to buy the home they want, instead of losing out on the house, Accept.inc will buy the property with its own funds and reserve the home on their behalf. If the all-cash offer wins, the home is purchased from the seller and reserved until the loan is ready to close.

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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. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common.

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Lighter Side of Real Estate

MARCH 27, 2024

While commissions may seem “high” to those outside of the industry, many agents don’t even come close to $10,000 commission checks on average. The most likely aspect that could cost you money is in relation to any home inspection issues. The President’s statement suggests that the agents’ fees will be cut by $10,000 on average.

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HomeLight

DECEMBER 31, 2020

Not only will you need to be packing, cleaning, and getting the house ready for your buyer, there’s also a lot of waiting and hoping that all of the moving pieces fall into place and your home sale closes on time, if you make it to closing at all. You’re not entitled to see the full inspection report. The property appraisal.

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HomeLight

SEPTEMBER 1, 2020

A “real estate owned,” or REO, home is one that’s owned by a bank. The owner either forfeited it to the bank, or the house went to foreclosure auction and the house didn’t sell. Whatever the case, now the house belongs to the bank. Buying a bank-owned home isn’t the same as buying a house from a private homeowner.

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Housing Wire

MARCH 1, 2023

The Federal Housing Finance Agency (FHFA) issued a request for information in January 2021 focused on Climate and Natural Disaster Risk Management at Fannie Mae , Freddie Mac, and the Federal Home Loan Banks. property inspections) allowing them to restart their origination pipelines much sooner and continue to close loans without delay.

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HomeLight

OCTOBER 1, 2020

One of those terms is “ clear to close.” What does clear to close mean? Clear to close is more straightforward than you’d think. Once you’ve signed all your documents and “closed” your mortgage, the lender will pay the seller and all parties and you get the keys to your house.”. 60 days of bank statements.

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First Team Real Estate

JANUARY 25, 2021

The recent California Governor executive order and the continued practice of brokers require a refresher on the brokers’ duties of inspection so that brokers understand what they may or may not do. There is a synergic connection between Civil Code Section 1102 (TDS) and Section 2079 (the broker’s inspection duty). c), 2079.8(b)

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Housing Wire

JANUARY 19, 2023

Bank and branch directors, community organizations and economists interviewed for the Fed Beige Book expect little economic growth in the months ahead. Boston – Home sales posted further substantial declines in November, and closed sales were down by 20 to 30% on a yearly basis. However, housing affordability worsened.

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Housing Wire

AUGUST 21, 2023

497 BOSSCAT 1,175% 2018 Digitizing home inspection data to create instant repair estimates for homeowners and real estate professionals. 658 Maxwell 890% 2015 Digitizes the mortgage-origination process for small to midsize banks, credit unions, and independent mortgage lenders. Other established names to make the Inc. Source: Inc.

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Housing Wire

MAY 2, 2021

Efficient data collection with aggregation and next-generation market analytics can drastically impact the closing process. QVM Insights combines virtual inspection technology with industry-leading automated valuation services for professionals in the real estate ecosystem.

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Toronto Realty Blog

JUNE 3, 2022

I had a tough week for closings. Really tough… First, I visited a property the day before closing with clients, only to find the house was still full of junk. Oh – and on the day of closing, they happened to be walking their dog by the house, and guess what? Still packing… Tough, tough week for closings!

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HomeLight

NOVEMBER 1, 2021

Arizona home sellers hoping to exchange the front door keys for a net gain on the sale should be aware that there are several closing items they’ll be responsible for, even as a hot seller’s market rocks the Sun Belt state. Closing Cost. Arizona sellers will cover these closing costs. Average Cost . Seller Responsibility.

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Redfin

MARCH 3, 2022

Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?

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Housing Wire

OCTOBER 26, 2020

Since launching in 2015, Xome has become a one-stop-shop for the entire real estate experience connecting every major touchpoint in the transaction process, from finding a home to closing the loan. Inspex solves an issue unique to 2020 by adding flexibility for homeowners who may not be comfortable with a vendor in-home inspection.

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HomeLight

AUGUST 25, 2020

home was on the market for an average of 24 days , with Ellie May estimating an average of 46 days to close on a purchase loan. That’s 70 days — or a little over two months — from listing to closing. Every house, every market, and every individual sale will vary in terms of days on market and closing timelines.

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Redfin

FEBRUARY 22, 2021

Even as you dream about color schemes, furniture placement, and what the ideal layout of your new home will be like, you’re probably also keeping a close eye on interest rates and what your future mortgage payment will be. What are closing costs? . Here is a sample closing disclosure to familiarize yourself with the form.

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HomeLight

MAY 17, 2022

But although you might pay less than you would on the open market, closing a sale on a foreclosure can take a long time, and properties may be sold “as-is ,” without a seller’s disclosure. You probably won’t be able to get an inspection of the inside of a property before bidding, as sales of foreclosure properties are often sold “as is.”

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