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. The lender wants to be sure you can pay back the mortgage plus any other debts you owe, so the bank will calculate your DTI.

Pre-approval 98

Pre-approval Purchase and sale agreement Title Closing 98

HomeLight

AUGUST 31, 2021

A divorce, job move, or low bank account can all be strong motivators to go for the speed and convenience of a cash sale. Translating that to real estate terms, selling a house for cash goes something like this: Request an offer: You skip the staging and showing process and go straight to requesting an offer. You get paid!

Proof of funds 144

Proof of funds Investor Due diligence Closing 144

Realtor.com

OCTOBER 29, 2020

Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Clear the title. When you buy a home, you “ take title ” to the property and establish legal ownership—a process that’s confirmed by local public land records. Get final mortgage approval.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

SEPTEMBER 16, 2021

This verification can come in the form of a certified bank letter with the official letterhead and should have the signature of the authorized bank personnel. Clear title. Sometimes the bank is knocking on their door or there are eviction notices in the window. Fast and guaranteed closing. Reduced fees. Flexibility.

Title 100

Title Inspection Proof of funds Investor 100

HomeLight

MARCH 13, 2023

More certainty: With a pre-offer walk-through, a cash home buyer can generally provide a firm cash offer that comes with few contingencies, or no contingencies at all. You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises.

Sales 82

Sales Investor Due diligence Renovation 82

HomeLight

NOVEMBER 21, 2022

Stage the home with final touches like fresh-cut flowers or a basket of fresh produce. However, Richter cautions FSBO sellers that private appraisals may differ from bank appraisals. “I This is a critical stage because buyers become motivated to put in offers when visualizing themselves living there. Refinish hardwood floors.

Purchase and sale agreement 77

Purchase and sale agreement MLS Pre-approval Agents 77

HomeLight

MARCH 16, 2023

There are just not enough buyers who have a good credit rating and can get bank underwriting,” he says. More certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few contingencies, or no contingencies at all. But that’s no longer the case.

Sales 66

Sales Purchase and sale agreement Earnest money deposit Investor 66

The Close

DECEMBER 29, 2022

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97