HomeLight

APRIL 11, 2023

Closing costs: Sellers pay no closing costs; Express Homebuyers covers them. Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. They also keep renovation costs as low as possible. If the offer is accepted, it typically takes seven to 14 days to close the sale.

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Purchase and sale agreement Closing costs Closing Sales 85

HomeLight

AUGUST 24, 2022

Closing dates are set at the seller’s discretion, and they can have cash in hand within 7 days. Closing costs: No closing fees for sellers. Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Closing costs: No closing costs for sellers.

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Closing costs Purchase and sale agreement Closing Staging 76

HomeLight

JUNE 23, 2022

The danger to a seller in this scenario is having to pay an extra mortgage payment and additional marketing fees if, after weeks of being wrapped up in an exclusive agreement with a buyer, the buyer falls through. It is usually held in the broker’s or title company’s trust or escrow account until closing.

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Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 107

HomeLight

OCTOBER 30, 2020

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. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common.

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Closing Inspection contingency Title search Purchase and sale agreement 111

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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Loans Mortgages Title FHA loan 81

HomeLight

MARCH 22, 2022

Different variables affect how much is appropriate to put down on the property, including: Different mortgage loan types. Ever heard of the due diligence fee in North Carolina? North Carolina is unique with its due diligence expense. A down payment amount that allows for “wiggle” money to settle into the home.

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Due diligence Closing costs Earnest money deposit Loans 88

HomeLight

APRIL 30, 2021

Anyone asking the seller to help them with closing costs. Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction. First-time buyers.

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Due diligence Finance Proof of funds Earnest money deposit 100

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. He estimates that on a $200,000 house, you could save between $5,000 and $6,000 in closing costs.

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Purchase and sale agreement Closing Title search Title 104

HomeLight

JULY 26, 2022

If the seller is working with a listing agent, their agent will more than likely have already done their due diligence to make sure they are able to sell their home. Get preapproved for a mortgage. This will also determine your chances of qualifying for a mortgage after your offer’s accepted. Find a buyer’s agent.

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Earnest money deposit Purchase and sale agreement Title Inspection 96

HomeLight

MARCH 13, 2023

You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises. When you work with a reputable cash home buyer in Orlando, you’ll likely experience a smooth journey from offer to close. The buyer does due diligence during the option period in Florida.

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Sales Investor Due diligence Renovation 80

HomeLight

JULY 25, 2023

When you sell a house for cash, it simply means that you sell to a buyer who can purchase the home outright without the use of a mortgage loan. Faster closing When you sell a house for cash, you can get money for your home much faster (usually in a week or two compared to several months with a non-cash buyer).

Title search 81

Title search Staging Closing costs Title 81

HomeLight

JULY 29, 2022

That’s because there’s still a lot that can go wrong at closing before you reach the finish line — from possibilities you’d considered (and feared) to surprises you never even imagined. These are decisions that can impact your credit history , a major factor in your mortgage. Problem: There’s an issue with the Closing Disclosure.

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Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

AUGUST 31, 2021

Plus, you’ll save money on things like commissions, repairs, and closing costs.”. Fast-forward to closing: Without a lender’s involvement, there will be no lender-ordered appraisal or loan processing period, which as of June 2021 averaged 51 days , according to a report from Ice Mortgage Technologies.

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Proof of funds Investor Due diligence Closing 144

HomeLight

SEPTEMBER 13, 2022

This may entail getting a new pre-approved mortgage, transferring the remainder of your mortgage, obtaining a private loan, or settling on owner financing , in which the seller finances the purchase directly with the buyer. Closing timeline. Closing costs , and who will be paying them. Perform a title search.

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Purchase and sale agreement Title Title search Finance 94

HomeLight

MARCH 16, 2023

He routinely works with multiple crews of contractors so he completes renovations at a lower cost and with fewer headaches than most homeowners. Naumann says buyers may not get a mortgage if big-ticket items like the roof or A/C aren’t in good condition. A house-buying company generally pays closing costs.

Sales 65

Sales Purchase and sale agreement Earnest money deposit Investor 65

HomeLight

DECEMBER 7, 2021

Unless there is an extraordinary exception, sellers will generally only get a copy of the inspection report if they paid for part of it, which can sometimes happen through shared closing costs. It’s all up to the buyer to perform due diligence. List of repair requests sent to seller . How a seller can respond.

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Inspection Purchase and sale agreement Pre-approval Closing 88

HomeLight

SEPTEMBER 1, 2022

Typically, the better the score, the greater your chances are of qualifying for an affordable mortgage. These are often loans in the form of a second mortgage with their own interest rates and payback requirements. GSFA Platinum® Down Payment Assistance Program – Down payment and closing cost assistance up to 5.0%

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Earnest money deposit VA loan FHA loan Loans 92

HomeLight

JULY 31, 2021

Beyond doing your due diligence online, it’s also a good idea to pick up the phone and put a voice to the business. In a mortgage-backed transaction, a lender will require an appraisal as a condition of financing. Closing costs. Put a voice to a name. Order a home appraisal. But home appraisals have other uses.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

The Close

DECEMBER 29, 2022

After all, great communication leads to closed deals. 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. Assumable mortgage.

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Purchase and sale agreement Title Proof of funds Pre-approval 98