The Mortgage Report

JULY 4, 2025

Start here If you’re thinking about tackling a big renovation , paying off debt , or just need a cushion for unexpected expenses, tapping into your home’s equity can be a smart way to make it happen. But with several options available for accessing your equity, it’s not always clear which one makes the most sense or costs the least.

Equity

The Mortgage Report

JUNE 24, 2025

Home equity is how many people build wealth and, when tapped into, can provide borrowers with money for renovating and remodeling, investing, an emergency fund or even paying off other debt. These typically have lower closing costs but may come with slightly higher interest rates compared to cash-out refis.

Equity

The Close

NOVEMBER 25, 2024

Long-term investors: They purchase homes about to go into foreclosure, make the necessary repairs, stabilize the property, and then finish the renovations to make the property eligible for a long-term loan. Look for Notice of Default, Notice of Trustee Sale, and Lis Pendens in the public records section.

Hard money loan

Redfin

AUGUST 6, 2025

Smart preparation leads to a smoother sale, stronger offers, and fewer surprises during closing. Know your net proceeds Work with your agent to calculate a net sheet that estimates sale price, agent commissions (typically 5–6%), seller-paid closing costs, remaining mortgage balance, and estimated profit.

Staging

Redfin

JUNE 23, 2025

Earnest money is a good-faith deposit held in escrow that can be applied to closing costs or the down payment. During the due diligence period, the buyer is allowed a set amount of time, typically outlined in the purchase agreement, to fully investigate the property before finalizing the sale.

Due diligence

AAOA

MAY 22, 2025

Start with a Letter of Intent (LOI) outlining your terms, then proceed to a formal Purchase and Sale Agreement (PSA) once its accepted. Step 6: Close and Execute the Plan With financing locked in and due diligence complete, you move to closing day, b ut this is just the beginning. million, 30-unit apartment complex.

Due diligence

Rochester Real Estate

NOVEMBER 5, 2015

Selling as is means no repairs or renovations are required, saving time and money. Understanding the cash sale process, weighing the pros and cons, finding a reputable cash home buyer, and preparing your house for a cash sale are all essential steps to ensure a successful transaction.

As-is

Redfin

FEBRUARY 24, 2025

Purchasing an existing home often proves more cost-effective than constructing a new one, though total expenses vary based on factors like home size, materials, market conditions, and location. As of December 2024, the median sales price for single-family homes in the U.S. As of the end of 2024, the median home sales price in the U.S.

Debt-to-income ratio

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles How to Buy a House in New York Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

Purchase and sale agreement

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Fannie Mae’s HomePath Ready Buyer Program : This offers up to 3% in closing cost assistance when purchasing a HomePath property and completing a homeownership course. Making the deal 17.

Purchase and sale agreement

Redfin

JUNE 24, 2025

Closing disclosure Homeowners insurance Loan application Promissory note Mortgage or deed of trust Affidavit of title Title insurance Initial escrow statement Transfer tax declaration Certificate of occupancy Deed FAQ What are closing documents? These documents outline final costs for the buyer and verify the sale for the seller.

Closing

Redfin

MARCH 4, 2025

Whether youre looking at homes for sale in San Antonio, TX , or in Wilmington DE , there are options for you. There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. Auctions The most common type of foreclosure sale is by an auction.

Pre-approval

Redfin

JUNE 9, 2025

Prices increasing fast: Prices rise quickly in hot markets but appraisals rely on older sales data that may not reflect the latest trends. Limited recent sales nearby: In neighborhoods with few homes for sale, there may not be enough recent data to support a high appraisal.

Purchase and sale agreement

AAOA

MARCH 24, 2025

They may face functional issues, have outdated designs, or require maintenance and renovations. Alternatively, if you purchase a multifamily property and undertake some value-added renovation and modernization, you could optimize your income and increase the propertys value. You can also refinish the property at a higher value.

Property Management

Redfin

APRIL 11, 2025

In high cost of living areas, homes that need TLC often sit at more approachable price points for first-time home buyers than turnkey homes. But with renovation costs on the rise, demand for move-in-ready homes is starting to outpace that of fixer-uppers. How much does a starter home cost?

Marketing

Redfin

AUGUST 5, 2025

Moving costs depend on local housing prices, mortgage rates, and transaction fees. Housing market: Your local housing market can also influence your decision to renovate or move. If there aren’t many homes for sale in your area or the competition is high, it may make more sense to stay in your home and remodel.

Renovation

Rochester Real Estate

NOVEMBER 5, 2015

Many of these first time home buyer programs and grants can help cover a large amount of the “closings costs” and/or allow them to finance a higher percentage of the loan (or all of the loan in some cases). These SONYMA loans are financed through the sale of tax exempt bonds.

Closing costs

HomeLight

MARCH 11, 2025

Outdated features or lack of upgrades that buyers want can make your home less competitive, especially when compared to newer or renovated homes in the same area. A Top Agent Can Help You Prepare Your Home A top real estate agent can guide you in selecting the right upgrades and repairs so you can get the highest sale proceeds possible.

Equity

Redfin

MARCH 4, 2025

Ideally, you would have enough equity to cover commissions, any liens, and closing costs. If you dont have enough equity to pay these costs, youll have to bring your own funds to pay them. Foreclosure can damage your credit score, so you may want to consider a short sale if this is the case.

Equity

AAOA

MARCH 10, 2025

Its the difference between the net sale price and your original purchase price, plus any improvements. This gain becomes real when you complete the sale. Remember, you can often deduct your closing costs (selling expenses) from your gain. If you spent $50,000 on renovations, youradjusted basisis now $350,000.

Investor

AAOA

JULY 3, 2025

However, ongoing costs and tenant management can be challenging. Houses offer more control and long-term appreciation , especially due to land ownership and flexibility in renovations, but they require higher upfront investment and maintenance. So, if you make renovations or add amenities, you can get a write-off for that.

Property Management

Redfin

JUNE 17, 2025

A home appraisal takes into account the entire picture of your property, from comparable homes and their sale prices to any special features your home has. In this case, you can offer concessions to incentivize the buyer – things like paying for closing costs or making requested repairs can help the deal still close.

Closing costs

Norada Real Estate

JUNE 22, 2025

Fannie Mae's updated forecast for home sales has also been revised to 4.92 The continued rise in home sales could lead to increased competition and may even drive prices up, meaning potential homebuyers should stay informed and consider their options carefully.

Mortgages

Marco Santarelli

JULY 2, 2025

Conversely, a surplus of homes can encourage lower rates to stimulate sales. Refinancing allows homeowners to adjust their loan terms, either lowering their monthly payments or accessing equity for renovations or other expenses. However, it's essential to evaluate costs against potential savings carefully.

Mortgages

Norada Real Estate

JULY 2, 2025

Conversely, a surplus of homes can encourage lower rates to stimulate sales. Refinancing allows homeowners to adjust their loan terms, either lowering their monthly payments or accessing equity for renovations or other expenses. However, it's essential to evaluate costs against potential savings carefully.

Mortgages

HomeLight

MAY 29, 2025

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. How much does it cost to sell a house in Kansas? Prepping your house for sale Preparing your Kansas home for sale generally costs between 1.5%

Purchase and sale agreement

Redfin

JULY 17, 2025

Savings: Decide how much each of you can contribute from your savings towards the down payment, closing costs, and moving expenses. Emergency funds: Discuss how you’ll handle unexpected costs, such as repairs or sudden loss of income. How can we protect ourselves if one partner pays more for renovations?

Purchase and sale agreement

BAM Media

JULY 8, 2025

Sellers Expect Over-Asking Offers, Quick Sales, and Minimal Compromises Confidence is high. 76% expect to make major repairs or renovations. 50% are considering financial incentives like closing costs, vs. 27% of past sellers who offered them. Not so much. Only 30% of past sellers did.

Inspection

HomeLight

MARCH 3, 2025

The most common request I get for as-is sales, are situations where a house is in significant disrepair. Those are the two types of situations in which I typically see a request for an as-is sale, Connor adds. As is is a type of home sale in which its understood that no improvements will be made to the property.

As-is

Redfin

FEBRUARY 19, 2025

The three types of taxes you can deduct are property tax, income tax, and sales tax. Here are two examples of how you can choose to deduct: Property taxes + state and local income taxes Property taxes + state and local sales taxes If you live in a co-op (cooperative housing), you have special rules. Specific limits may apply.

Equity

Housing Wire

JUNE 10, 2021

Home improvements and renovations are also important to buyers. According to Redfin, the average real estate commission is 5%–6% of the home’s sale price. A concession is when the seller agrees to pay part of a buyer’s closing costs. Sellers also have to pay closing costs. Seller Concessions. Bottom Line.

Seller concession

Housing Wire

MAY 8, 2023

Once the transfer of ownership occurs at foreclosure auction, a distressed property can be renovated and returned to the retail market as affordable housing for homeowners or renters. “[I My renovated homes are] reducing the number of rental properties , which in our town has become a source of demise.”

Renovation

Housing Wire

MARCH 28, 2022

These companies are advancing the market and closing fragmentation gaps by using technology to digitize and simplify multiple aspects of the real estate value chain to create a better customer experience. For this strategy to work, iBuyers need to know all the elements of a sale beforehand to price out the purchase.

Marketing

HomeLight

NOVEMBER 9, 2021

Closing costs are assumed to be part of doing business in real estate, but do cash buyers pay closing costs? Yes, you can expect charges for attorney hours, taxes, plus title and recording fees to still apply, though the use of cash can greatly reduce a buyer’s closing costs with the elimination of mortgage fees.

Closing costs

Housing Wire

OCTOBER 20, 2023

Just sold stories If your clients are willing to be featured on your socials, celebrate their sale. To demonstrate this, share regular updates with posts that include stats, such as the average sale prices in your city or in desirable neighborhoods, the number of active listings, the average days on market, and more.

Agents

HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

Short sale

Realtor.com

FEBRUARY 11, 2021

Can you afford the closing costs? But beware: If you want to buy, there are more upfront costs involved. Closing costs are used to pay for items such as appraisals, inspections, and much more. When you’re buying, you have closing costs and a down payment. Can you afford the neighborhood?

Closing costs