Dwell Real Estate

JULY 10, 2020

Without earnest money, buyers could theoretically make offers on multiple homes, essentially taking them off the market until the buyers decide which one they like best. You might be tempted to do the same—a hefty earnest money deposit without contingencies will make you more attractive home buyers.

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Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Dwell Real Estate

JULY 10, 2020

Without earnest money, buyers could theoretically make offers on multiple homes, essentially taking them off the market until the buyers decide which one they like best. You might be tempted to do the same—a hefty earnest money deposit without contingencies will make you more attractive home buyers.

Earnest money deposit 40

Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Real Trends

DECEMBER 27, 2022

Low appraisals are common during a “seller’s market,” which often occurs when housing demand is greater than housing supply. Home sale contingency. I’ve shared the situations that can trigger a home inspection contingency or appraisal contingency. You should also be aware of home sale contingency.

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Sales Home sale contingency Pre-approval Inspection 60

HomeLight

AUGUST 29, 2022

Research the market and determine where you would like to buy. It’s always smart to shop around for the best rates and terms , but it could be helpful to start with the bank or credit union you already have a banking relationship with. Assistance amounts vary and funds are limited.

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HomeLight

AUGUST 31, 2021

Cash offers are more popular in some markets than others; for buyers trying to find a house in an area where cash offers are prevalent, competing against those offers can be a discouraging part of the homebuying process. The most obvious contingency with an offer that requires financing is, of course, the financing itself.

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HomeLight

NOVEMBER 9, 2021

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). That said, the number of days your home is on market depends on several factors, such as: The location of your home. Days on Market.

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Purchase and sale agreement Home sale contingency Title search Inspection 86

Redfin

OCTOBER 12, 2020

Make sure they’re knowledgeable about your local real estate market and the neighborhoods you’re looking to purchase a home in. . Deciding on how to finance your home — and with whom — is an important decision. Depending on the results of the home inspection report, you may have more negotiating power than before.

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Title Pre-approval Inspection Inspection contingency 72

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. Every house, every market, and every individual sale will vary in terms of days on market and closing timelines. That’s 70 days — or a little over two months — from listing to closing.

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Closing Pre-approval Inspection Days on market 120

HomeLight

MARCH 30, 2021

Ask your real estate agent to help you gauge the current real estate market in your preferred area. Days on market: The speed at which houses are selling can be telling. If houses are sitting on the market for a while, you may get a better deal … but is there a reason why buyers are shying away from a particular area?

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Due diligence Inspection Title Pre-approval 103

HomeLight

DECEMBER 31, 2020

Real estate agents keep an eye on sales pending properties because there are a number of ways that the deal could fall through and the house could come back on the market. Things that could derail a sale during the sale pending period include: The home inspection. Contingencies that fail to be met or lifted.

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HomeLight

JANUARY 27, 2021

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? They’ll have specialized market information that others won’t. Home financing. Whether this will work depends on your market and how competitive it is. They’ll know what’s possible (and likely) in your market, at your price point.

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Closing costs Loans Inspection Earnest money deposit 117

HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. is not a simple or finite one. Loan approval.

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Closing Purchase and sale agreement Title search Earnest money deposit 110

HomeLight

JANUARY 13, 2022

Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. In other words, the primary deal on an active contingent listing might (maybe) fall through, causing sellers to place their home back on the market — or accept a backup offer. “I Inspection contingencies.

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Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 77

HomeLight

OCTOBER 30, 2020

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. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Financing issues.

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Closing Inspection contingency Title search Purchase and sale agreement 111

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. Now, the bank or another lender owns it and has listed it on the open market. Step 3: Figure out your financing.

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HomeLight

OCTOBER 8, 2020

Buying and selling at the same time is tough in almost any situation, but it’s especially difficult in today’s real estate market. Sale contingencies are frowned upon. ” And we were able to go ahead and help get that property to market. You’re probably in a bidding war against several other buyers.

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Agents Pre-approval Inspection Staging 80

HomeLight

AUGUST 9, 2022

As we mentioned, your lender will need to see that you do actually have the money as part of your loan approval process — a current bank statement will usually suffice — but you won’t need to transfer it out until closing day. How much you’ll put down depends on the specifics of your finances, and what kind of mortgage you’re getting.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 94

HomeLight

SEPTEMBER 10, 2022

You offer the owner $200 but explain you don’t have the cash with you and that you need to run by the bank. Kick-out clauses are often employed when the buyers have to sell their current home first, and the sellers want to continue marketing their home in the meantime. An inspection contingency. An appraisal contingency.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 95

HomeLight

OCTOBER 29, 2020

The need for a competitive offer is stronger than ever these days, when experts nationwide agree that the events of 2020 have created a robust seller’s market. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

JULY 31, 2022

Oftentimes, especially in a seller’s market , finding a home takes more than setting up notifications on your favorite real estate app. Agents have a network that they can tap into to find off-market properties, or pocket listings , and they use these connections to best serve their clients. Appraisal contingency.

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Earnest money deposit Agents Purchase and sale agreement Title 89

HomeLight

SEPTEMBER 25, 2020

With cash, you’ll pay no interest on a mortgage loan — and your all-cash offer is likely to look strong against competition in a hot real estate market. Getting a mortgage also allows you to keep more of your liquidity intact : If you had $500,000 in the bank, and use it on an all-cash home purchase, you now have $0 in the bank.

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Mortgages Inspection contingency Loans Inspection 73

HomeLight

JULY 31, 2022

Before properties can be financed, their value and condition is typically examined by a state-licensed, independent appraiser contracted by the buyer’s mortgage company. It’s important to distinguish that appraisals are not intended to be a home inspection. Addressing minimum requirements as part of your marketing plan.

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Closing FHA loan Purchase and sale agreement Inspection 98

Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Your home inspection reports.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

OCTOBER 29, 2020

He walked us through the process for paying in cash, and he explained some unexpected pitfalls you might experience if you forgo financing all together. It’s pretty similar to any other home purchase , but minus the financing. However, that “minus the financing” is a pretty big deal for sellers. Here’s what you need to know.

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HomeLight

MAY 28, 2021

When you see the term “sold as-is” on a listing or marketing material, that means the seller is telling you upfront they are selling the property in the exact condition you see it in. A seller may lack the resources or finances to complete repairs at the moment and doesn’t want to have that contingency to sell the home.

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HomeLight

JUNE 30, 2022

You also want to check your FICO score, as this is what the majority of lenders use ; you can often get your FICO score for free if your banking institution provides it, but otherwise you might have to pay for this service. Line up financing. It’s important to line up financing well in advance of when you want to start making offers.

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Purchase and sale agreement Inspection Earnest money deposit Closing costs 73

HomeLight

MARCH 13, 2023

Perhaps your Metro West resort-style condo isn’t bringing in the revenue you expected as a vacation rental and you don’t want to invest more money to list it on the market. Expanding population and job market fuel rental growth Greater Orlando’s population of 2.67 Need to Sell Your House Fast in Orlando? million people by 2030.

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Sales Investor Due diligence Renovation 81

HomeLight

AUGUST 24, 2022

Clients maximize the value of their quick home sale with a competitive top market offer and no additional fees, commission or upfront costs. Average days on market for Connecticut. These things tend to make the house more appealing without breaking the bank. Your agent should also be willing to go the extra mile on marketing.

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As-is Inspection Investor Closing costs 98

HomeLight

SEPTEMBER 15, 2021

Comparative market analysis. Proposed marketing plan. Pre-listing inspection report. The mortgage lender might require a copy to finance the sale, so it would be good to have copies available just in case.”. Comparative market analysis. Not sure how much your house could go for on the current real estate market?

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Purchase and sale agreement Inspection Title Pre-approval 113

HomeLight

OCTOBER 29, 2021

Let’s be honest: 2020 (and the bulk of 2021) have been pretty intense for all of us, and in many regions, the real estate market seems to reflect that stress. Take a look at these tips and insight into finding your way to homeownership as a first time buyer , as well as some things that you really shouldn’t do in today’s market.

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Inspection Loans VA loan Title 91

HomeLight

JULY 31, 2021

turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

Redfin

FEBRUARY 10, 2021

What to Expect for the Housing Market in 2021. housing market is different. While the economy expands and contracts, the housing market reacts, producing buyers and seller’s markets. The housing market will remain strong through 2021 as the economy recovers from the pandemic-driven recession.

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Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 75

HomeLight

MARCH 16, 2023

We’ve gathered insights from real estate experts to create this guide for navigating Houston’s cash home buyer market so you can sell your property in as fast a time frame as you require. But newcomers who invested in Houston’s sizzling real estate market are backing off during the downturn. Need to Sell Your House Fast in Houston?

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HomeLight

FEBRUARY 28, 2021

Small-town charms and big-city conveniences beckon buyers in search of proximity to the nation’s capital, plenty of lifestyle perks, and a thriving economy and job market. on the southwestern bank of the Potomac River. According to the Arlington Department of Real Estate’s 2021 market study , residential property values are up 5.6%.

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Redfin

FEBRUARY 22, 2021

This amount covered taxes, bank fees, and third-party fees such as those charged by the title company. If your contract included a home inspection contingency, a home inspector would have performed a home inspection which you’ll also have to pay for. Homebuyers should plan for closing costs.

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HomeLight

MARCH 23, 2022

In the words of Leslie Peterson , a top agent in San Francisco , California: “It’s just a crazy market right now.”. In a hot seller’s market like we’ve seen since the onset of the coronavirus pandemic (and will likely continue to see as we get further into 2022), being a prepared buyer will give you an edge when it’s time to make an offer.

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Marco Santarelli

AUGUST 2, 2020

Let’s take a look at the current state of the NYC real estate market amid the coronavirus pandemic. On the page, you'll find the latest housing market reports for NYC and also for the state of New York. Let us first find out the latest news about the housing market of New York City, which has been the epicenter of this pandemic.

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