The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. That could be a pretty sizable chunk of money from the seller’s profit.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

AUGUST 31, 2021

submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved. Cash buyers have the option of taking these same steps for appraisals and inspections, but they aren’t required to so to appease a lender. The inspection.

Due diligence 77

Due diligence Inspection Pre-approval Pre-qualification 77

The Close

APRIL 28, 2022

When a financed buyer offers to cover any appraisal gap, they are putting up additional money for the down payment and closing costs. I was working with a client who only had $30,000 total for down payment and closing costs. Pay the Seller’s Closing Costs. No-cost Rent-back.

Rent back 105

Rent back Closing costs Finance Agents 105

HomeLight

NOVEMBER 10, 2021

After you submit your documentation, you’ll know what kind of budget you have to work with, or your approval “ceiling.”. They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. Step 9: Order an inspection.

Inspection 87

Inspection Title Agents Pre-approval 87

HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. CalHFA works through approved lenders, and buyers apply for the program through their loan officer.

Closing 93

Closing Earnest money deposit Sales Inspection 93

Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. If something is wrong, you can request that it be fixed—or you can back out of the sale. Get final mortgage approval.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MAY 24, 2022

By waiting, you risk increasing interest rates that limit the number of qualified buyers as well as the size mortgage that lenders will approve. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process. Read on for the reasons why 2022 might be the year to make your move.

Pre-approval 98

Pre-approval Equity Agents Closing costs 98