HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase.

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HomeLight

MARCH 31, 2021

Whether you’re selling a modern condo in Atlanta’s Midtown or a century-old property in Savannah’s Historic District, you need to know the closing costs sellers are responsible for in Georgia. The Georgia Association of Realtors reports that closing costs in Georgia typically range 5% to 10% of the home’s sale price.

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HomeLight

NOVEMBER 1, 2021

If you’re selling your Kentucky home, you may be wondering how much you’ll make on the sale, what required costs will eat into your profit, and where you can cut costs. This means understanding which fees you’ll be responsible for when the sale closes. What are closing costs? Closing cost.

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CT Homes

MARCH 7, 2024

If you’re a homeowner pondering the possibility of selling your house, you might find yourself wrestling with a common question: Can you sell a home with a mortgage ? It’s a widespread belief that a mortgage chains you to your property until every last penny is paid off.

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HomeLight

MARCH 2, 2022

Up next: The home inspection. Once the buyer orders a home inspection, your home is in the hot seat. Even if you’ve gone through the house with a fine-tooth comb and listed anything and everything on the seller’s disclosure , the home inspection might reveal issues that you weren’t aware of or are worse than you thought.

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HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. After all, few people can afford to hold two mortgages. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency?

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HomeLight

APRIL 19, 2022

Gone are the days where a simple handshake could solidify a working agreement between a buyer and their real estate agent. Instead of a handshake, buyer’s agents are presenting homebuyers with a document called a “buyer broker agreement” — and you might not know what that is! Buyer-broker agreements, explained.

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Realty Biz

DECEMBER 15, 2022

These days, having a neutral third party to make sure everyone is satisfied with the sale and purchase can give both buyer and seller more peace of mind. . Many home buyers and sellers know that escrow is a financial arrangement with a third party who holds money or other property until the terms of the sale are complete.

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HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” In this post, we’ll explain terms like “under contract,” “sale pending,” and “active under contract” and how they might impact your home-buying journey.

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Realtor.com

NOVEMBER 15, 2022

Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. Sellers can also offer to pay for repairs should the home inspection reveal that they’re necessary. The post What Are Seller Concessions?

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HomeLight

DECEMBER 7, 2021

Whether you’re buying, selling, or refinancing a home, you’re probably going to have to endure a home inspection. About 95% of buyers hire a home inspector prior to closing. But what’s inspected? And after the home inspection, what next? Source: (LinkedIn Sales Solutions / Unsplash). What does the inspection cover?

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HomeLight

MARCH 28, 2024

When a home sale closing is delayed, it’s usually the buyer holding up the deal due to financing hiccups, low appraisals, title issues, or problems found during the final walkthrough. But what happens if a seller misses the closing date? We’ll also look at legal options if a seller defaults on the purchase agreement.

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Real Trends

APRIL 11, 2023

Closing cost incentives Closing cost incentives can include owner’s and lender’s fees, escrow or settlement fees, transfer taxes and government recording fees. Home repairs One way of receiving seller concessions is when the seller agrees to pay for the buyer’s repair costs.

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HomeLight

NOVEMBER 9, 2021

You just heard about short sales, and they sound intriguing. But it would be a mistake to think you’re automatically getting a deal with a short sale. Short sales fall into the category of “distressed” sales. Here’s when it’s good to buy a short sale house. First: What’s a short sale?

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Realty Biz

FEBRUARY 1, 2024

A credit in home sales can be given for several reasons. Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. Typical uses include closing costs, prepaid items, and even repairs or upgrades to the property.

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HomeLight

JULY 30, 2021

We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements. Lease-purchase agreements.

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Realty Biz

APRIL 20, 2022

What to Know About Terms and Conditions Found in an Offer to Purchase. It will state your offer price and many other clauses that could be crucial to the success of the purchase. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. Mortgage Financing Clause.

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

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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 Suppose the inspection uncovers issues that are unacceptable to the buyer.

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HomeLight

JUNE 13, 2022

You need to save up money for a down payment and closing costs (which are calculated as a portion of your purchase price), but home prices just keep going up — so when you finally reach your goal, you realize that the goalposts have moved, and the hill is even taller than you thought. You need to build your work history.

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HomeLight

MAY 3, 2023

But in focusing on the equity portion, people are often surprised to learn how much it costs to sell a house in the U.S. Selling fee Typical % of sale price Real estate agent commission 5.8% of the property sales price. of today’s median home sale price of $375,700. Enter your address to get started.

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Realty Biz

JUNE 22, 2021

For example, there are substantial closing costs a buyer will pay when purchasing a home and getting a mortgage. You could look at the payment of the closing costs as a seller assist to the buyer’s benefit. The sale is being structured to accommodate the buyer’s financial situation.

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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. Get final mortgage approval.

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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. Receive your offer within a week and close in as little as 10 days.

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Point2Homes

NOVEMBER 29, 2022

Generally, these are detailed in the conditional offer and may relate to a favorable home inspection , the go-ahead for taking out a mortgage and clear title checks. This will generally come into action once mortgage payments start for a homebuyer. This will then be written down in a legally binding agreement.

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HomeLight

JUNE 29, 2022

Before you post the “for sale” sign in your front yard, it’s important to prepare yourself for a critical part of the home-selling process : negotiating with buyers. The good news is that with a little planning and forethought, you can sit at the closing table with confidence, knowing your best interests are represented.

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HomeLight

AUGUST 31, 2021

In the meantime, you’re still paying rent, maybe even more each month than you’d pay for a mortgage payment. But what if a portion of your rent were going toward purchasing your rental home at a later date? Rent-to-own basics: Crediting rent toward a future purchase. Source: ( Shopify Partners / Burst ). Sounds ideal, right?

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Purchase and sale agreement Due diligence Closing costs Mortgages 120

HomeLight

SEPTEMBER 15, 2021

Even if you’re listing your home without a Realtor’s® help, you’ll still need to gather the necessary paperwork for the sale and fill it out correctly. We hope it helps illuminate this tricky part of the sale, while giving you an honest idea of just how complex real estate transactions can be! Original sale contract.

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HomeLight

DECEMBER 30, 2021

Gaining an early understanding of the legal documents for buying a house will help you avoid confusion and keep stress levels to a minimum while you’re in the midst of negotiations , inspections , and closing. Your agreement with a buyer’s agent may be one of the first legal documents you’ll encounter when buying a home.

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HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent.

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HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

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HomeLight

JANUARY 10, 2023

With such impressive sales figures, some sellers may be curious about how to sell a house by owner in California — a decision that could help them save on agent commissions. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Fast Fasts for Selling a House in California.

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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” How it can delay closing. Easy, right? Yeah, not so much.

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HomeLight

APRIL 28, 2023

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. That 6% is deducted from the seller’s proceeds at closing.

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HomeLight

AUGUST 9, 2022

The down payment on a home gets your foot in the door, and the mortgage lets you move in. It’s the first financial move you’ll make in securing your new home purchase. The size of your down payment can depend on a variety of factors, like where you’re buying, how much you have saved, and what kind of mortgage you’ll get.

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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. Active contingent.

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Windemere Buying

JUNE 22, 2022

Sellers will typically request alterations like a higher price, a modification to your contingencies , or an adjustment of closing dates. You can accept or reject the counteroffer or come back with a counteroffer of your own, which may continue for multiple rounds until the two parties reach an agreement. Now you’re ready to close!

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