Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. With that said, it’s recommended to work with a knowledgeable, local mortgage broker.

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HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

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Redfin

MAY 26, 2021

Escrow starts with your purchase offer on a home and ends when you close on the house. This is a contractual agreement that begins after you close on your home and ends once you’ve paid off your mortgage or refinance with another lender. The escrow agent is typically a title company , a bank, or a separate escrow firm.

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Redfin

MARCH 30, 2021

Also, note that there are a growing number of digital-first lenders and title companies—like Redfin Mortgage and Title Forward —that may enable you to complete your entire closing process online, often with shorter timelines than the ones described below. This includes finalizing the property you are purchasing.

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HomeLight

APRIL 14, 2023

Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. They usually present a take-it-or-leave-it sale price. If you accept the offer, you’ll both sign a sales contract. With a signed sales agreement, the closing process will begin.

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HomeLight

JULY 28, 2022

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Alabama. The company points to its local roots and willingness to help Alabamans sell their houses, and the company purchases more than 50 homes per year. Simple Sale (a HomeLight platform). Request Offer.

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HomeLight

JUNE 23, 2022

In many cases, if a homebuyer wants to back out of a contract and retrieve their earnest money, they’ll be able to find a way to do so within the confines of the real estate purchase contract. The typical amount is around 1% of the purchase price (ex. $5k 5k for a $500K home). Is earnest money refundable?

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HomeLight

MAY 24, 2022

Mortgage interest is tax-deductible , and many homeowners appreciate the deduction. If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. A cash sale: Start to finish. Why pay cash for a home? Setting the standard.

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HomeLight

AUGUST 16, 2021

The mortgage loan process is pretty messy! Follow the list, and you’ll save yourself a lot of headaches and make the mortgage loan process a lot smoother. Businesses have expenses, which eat into how much you take home and have available to spend on a mortgage. Source: (Mangostar / ShutterStock). Loan application.

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HomeLight

FEBRUARY 14, 2022

It’s not terribly common to rent-to-own because most of the people who are in the rental situation are those who, for whatever reason, can’t get financing the conventional way through a bank. These possibilities can be stipulated in the rent-to-own agreement — which is also sometimes referred to as lease-purchase, or a lease-option agreement.

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HomeLight

MAY 27, 2021

But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. No one daydreams about filling out mortgage applications, and the process is complicated because you have to keep track of so many details and make so many choices. Source: (Matthew Henry / Burst).

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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. Not always! Here’s what you need to know.

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HomeLight

JANUARY 13, 2022

In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found. Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. So he knows all the twists and turns that can occur between an accepted offer and a closed sale.

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HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death).

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HomeLight

JULY 31, 2022

You can check to see how much you could qualify for in just a few minutes with a mortgage loan calculator, but it will take some time to gather all of your information and submit it to a lender when you’re getting a preapproval or underwritten preapproval. Find a home. Here is what you’ll include in the offer: Type of real property.

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HomeLight

MARCH 17, 2021

The planning stage (1 to 3 years before purchase). It takes a lot of planning and preparation, possibly even some soul-searching, to decide what’s the right move in your situation. Whether you have a stable income to cover mortgage costs. Source: (Shopify Partners / Burst). Figure out your budget.

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HomeLight

OCTOBER 29, 2020

Because the stakes are high when it comes to property transactions, contingencies are written into the purchase agreement , and in most cases, action must be taken toward satisfying those contingencies within a certain time frame. In these cases, buyers make up the difference between the purchase price and the appraisal with cash.

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HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

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HomeLight

SEPTEMBER 27, 2022

This article offers expert insight from Gina Candelario , a top agent who works with 78% more single-family homes than the average San Antonio, Texas, agent, and Brent Morgan , a Texas probate attorney, to set you on the path to a successful sale of your inherited house in Texas. A reverse mortgage ? Are there any liens or judgments?

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Realtor.com

OCTOBER 29, 2020

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. If something is wrong, you can request that it be fixed—or you can back out of the sale. Clear the title.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

FEBRUARY 16, 2023

Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. They usually present a take-it-or-leave-it sale price. If you accept the offer, you’ll both sign a sales contract. With a signed sales agreement, the closing process will begin.

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Marco Santarelli

AUGUST 28, 2020

But with a 1031 exchange , you get to defer paying those taxes if you reinvest the proceeds in a new property, making an “exchange” rather than a sale. A simple definition of 1031 exchange properties is the property being sold and the property being purchased in accordance with Section 1031 of the tax code.

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HomeLight

JANUARY 19, 2023

Perhaps you’re behind on mortgage payments and need to sell before the bank forecloses. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. They usually present a take-it-or-leave-it sale price. If you accept the offer, you’ll both sign a sales contract.

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Redfin

AUGUST 3, 2022

Homeownership offers stability and a sense of security and safety, but the process of making the biggest purchase of your life can seem overwhelming. The safest rule of thumb dictates that your mortgage loan payment should not exceed 28% of your monthly gross earnings. Owning a beautiful home you can call your own is a dream come true.

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HomeLight

NOVEMBER 21, 2022

When the time comes to move, some tenacious homeowners in South Carolina are eager to take over the reins of their home sale and figure out how to sell a house by owner. With millions of homes sold each year, a modest portion of sellers — about 7% in 2021 and 10% in 2022 — choose to list “For Sale By Owner” (or FSBO — pronounced fizz-bow).

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The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Active contingent. Amortization.

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