Realty Biz

MAY 1, 2022

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. Waive The Home Inspection. One of the bigger stumbling blocks in any home purchase is the home inspection. Let The Seller Rent Back The House.

Purchase and sale agreement 145

Purchase and sale agreement Rent back Pre-approval Inspection 145

Realtor.com

DECEMBER 10, 2020

In a competitive market, buyers might be tempted to forgo a home inspection to speed up the process and appeal to sellers. Better to move forward with the home inspection, and then use the findings as a potential bargaining chip. If your inspection reveals any issues, you can ask the sellers to make repairs as a condition of the sale.

Closing costs 142

Closing costs Inspection Closing Rent back 142

Realty Biz

JULY 7, 2021

The preapproval letter is based on the lender reviewing and confirming your W-2s, bank statements, credit score, and other relevant documentation. One contingency that is almost always wise to include is a home inspection to be sure you aren’t buying a major problem that you aren’t aware of. Require a minimal home inspection.

Inspection contingency 88

Inspection contingency Marketing Inspection Rent back 88

HomeLight

AUGUST 31, 2021

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.

Due diligence 77

Due diligence Inspection Pre-approval Pre-qualification 77

Real Trends

JULY 15, 2022

Also, lending guidelines are much tighter today than in previous years so banks aren’t approving risky loans to potential buyers. This could involve a quick settlement, a rent-back offer, a home inspection without repairs, or doing away with other contingencies.

Loan Officer 52

Loan Officer Agents Rent back Finance 52

HomeLight

APRIL 19, 2021

Inspections & attorneys. Jean Chou , the principal attorney at JLC & Associates , advises her clients who buy in smaller buildings to schedule their own inspections as part of the homebuying process. Getting the necessary approvals can take up to four months, so plan for this ahead of time. Flood zones in the city?

Earnest money deposit 62

Earnest money deposit Inspection Due diligence Agents 62

HomeLight

APRIL 29, 2021

Your bank account will thank you! For example, in 2017, a competitive housing market in Western Washington prompted “serious buyers” to waive home inspections and financing contingencies. With competing buyers and rising home prices, you could net more than what recent sales in your neighborhood suggest.

Marketing 109

Marketing Sales Agents Construction 109