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

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With competing buyers and rising home prices, you could net more than what recent sales in your neighborhood suggest. Your bank account will thank you! Buyers may also throw in deal sweeteners such as a seller rent back , which allows you to stay in the home (renting from the buyer for a period of time) after closing.

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You Made an Offer on a House! Now: When Will You Hear Back?

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It’s a foreclosure or short sale. If it’s a foreclosure or a short sale, the bank is involved — it’s just going to take longer! Banks will also collect multiple offers and review them, just like sellers. The bank may also need to follow local and state laws regarding a foreclosure or eviction.

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Buying a House Online? How to Get it Done in 15 Steps

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They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. A good agent will reach out to the seller’s agent and ask about non-financial perks, such as a flexible closing timeline or rent-back period, that could seal the deal. When it’s a bad idea.

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Sell Your House for Cash: For Some, the Convenience Can’t Be Beat

HomeLight

Often, the process has already started and the homeowner only has a few weeks to a month before they lose their house to the bank and their credit score is destroyed,” says Steinemann. They need an out immediately.”. So once a seller has an offer on their place, they can write an offer on a new house.