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5 Killer Tips For Beating a Cash Buyer

Realty Biz

When trying to compete with cash offers, getting a bank letter at your maximum loan amount is helpful. Getting a bank letter from a reputable lender is also a significant plus. With bidding wars, it increases the odds the bank appraisal will come in less than the sales price. Give The Seller Their Desired Closing Date.

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What’s a Rent Back Deal? (And Two Other Reasons A Seller May Still Be in the House After Closing)

HomeLight

Nothing deflates the excitement of buying a home faster than a seller who’s still in the house after closing. That said, a seller remaining in the home after closing isn’t always a nightmare scenario. We’ve got solutions and options for the specific scenario you face, whether it’s: You need to negotiate a rent-back.

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Let’s Make a Deal! 7 Things You Can Negotiate When Buying a Home—Beyond the Asking Price

Realtor.com

But even in a seller’s market, there are myriad opportunities to negotiate, from requesting home repairs to offering a speedy closing. Make sure to attend and review the findings of the home inspection,” says Steve Kaminski , head of residential lending at TD Bank. “It’s Time to close. Closing costs.

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Tips to Help Buyers Successfully Navigate a Hot Real Estate Market

Realty Biz

The preapproval letter is based on the lender reviewing and confirming your W-2s, bank statements, credit score, and other relevant documentation. It’s the preapproval letter that tells the seller that you’re serious about buying their home and highly likely to close the deal. Offer to rent back to the seller.

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What’s the Deal with Making a Cash Offer on a House?

HomeLight

From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan.

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Seller’s vs. Buyer’s Market: A Seller’s Guide to Decoding Market Conditions

HomeLight

The 13-year industry veteran has a track record for selling homes fast — her listings close 65% quicker than the average Philadelphia agent. Your bank account will thank you! Rock advises homeowners in a buyer’s market to closely consider the first offer that comes in the door. Source: (yi sk / Unsplash).

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Get Your Own Slice of the Big Apple: Buying a House in Manhattan

HomeLight

Closing costs can range from 2.5% But working closely with your agent allows you to determine what else matters to the seller, like the timing of the deal, or possibly the opportunity to rent back the unit for a few months while they figure out their own next move. million in condos. Sellers love that,” says Hoffman.