HomeLight

APRIL 29, 2021

You’ll simply show the house to a few buyers, pick the best offer, wait for closing, and pocket some cash. Closing can take more than a month. Your buyer’s loan approval is often the closing step that takes the longest. Ellie Mae estimates that it takes 46 days on average to close a loan.

Purchase and sale agreement 90

Purchase and sale agreement Pre-approval Inspection Inspection contingency 90

Hank Miller Team

FEBRUARY 27, 2022

Princes are conventional loans with as much down as possible Offer 3-4 in earnest money and deposit it within a day of contract Waive contingencies like inspection, appraisal, and financing Learn what is key to seller and try to accommodate them Keep things simple, no nonsense stipulations or asks This is the market right now (late 2/22).

Due diligence 52

Due diligence Rent back Inspection Agents 52

HomeLight

MARCH 31, 2022

Cash offers or flexibility in choosing a closing date can also be attractive enticements to a seller. Financing contingency: Even if you are preapproved for a mortgage loan, you may run into a problem getting a loan approved for a specific property. You generally see those in a normal market.”

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 77

RIS Media

APRIL 18, 2022

Buyers are waiving a home inspection. Allowing the seller to rent back for a specified amount of time. Over the life of the loan, it could translate into thousands of dollars. The terms of the loan. The requested closing date. Buyers are waiving their home appraisal or offering an appraisal gap guarantee.

Pre-approval 119

Pre-approval Backup offer Due diligence Rent back 119

Real Trends

MARCH 3, 2022

If you have clients that are thinking about offering, keep in mind that the offers we have already received are well above list price, have waived inspection and appraisal, and are willing to honor the Seller’s request of a free 60-day rent-back.”

Agents 103

Agents Due diligence Inspection Rent back 103

Redfin

MAY 7, 2021

Another option to consider is gap financing such as a Home Equity Line of Credit (HELOC) or a Bridge Loan. For those unfamiliar with HELOC or Bridge Loans, they use your home’s equity, the difference between your home’s value and the amount owed on your mortgage, to secure the loan. 2) Buy first and sell your home to an iBuyer.

Purchase and sale agreement 79

Purchase and sale agreement Marketing Equity Loans 79

Redfin

FEBRUARY 2, 2021

1) Get Pre-Approved for a Home Loan. Earnest money protects the home seller in case a buyer backs out of a home sale after the offer was accepted. Unless a homebuyer backs out due to something coming up in a home inspection or appraisal, the seller will get to keep the earnest money.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

HomeLight

APRIL 19, 2021

Closing costs can range from 2.5% Inspections & attorneys. Jean Chou , the principal attorney at JLC & Associates , advises her clients who buy in smaller buildings to schedule their own inspections as part of the homebuying process. One-bedroom apartments in co-ops can start at $700,000 in co-ops compared to $1.2

Earnest money deposit 61

Earnest money deposit Inspection Due diligence Agents 61

HomeLight

APRIL 17, 2024

Both promise to buy your home for cash, and close quickly. Others perform a home inspection while their competitor skips one. This enables you to skip many of the typical hassles of selling a house (repairs, showings, open houses), and close in as little as 10 days. But beyond this similarity, how do they stack up?

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Seller concession Inspection Rent back Closing 91

HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

Closing 88

Closing Earnest money deposit Sales Inspection 88

HomeLight

APRIL 29, 2021

The 13-year industry veteran has a track record for selling homes fast — her listings close 65% quicker than the average Philadelphia agent. For example, in 2017, a competitive housing market in Western Washington prompted “serious buyers” to waive home inspections and financing contingencies. Source: (yi sk / Unsplash).

Marketing 108

Marketing Sales Agents Construction 108

Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. If something is wrong, you can request that it be fixed—or you can back out of the sale.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

JUNE 30, 2021

When you closed on your first home, you probably weren’t thinking that one day you’d want to sell. Getting the timing right — selling your old house, closing on a new house, and then moving into your new house — can be a challenge. But after a few years, it’s easy to outgrow your space. Cons of a sales contingency for buyers.

Rent back 103

Rent back Inspection contingency Earnest money deposit Finance 103

HomeLight

JANUARY 7, 2022

They’ll also introduce you to options, such as a bridge loan or home equity line of credit, to assist in your sale if needed. Your timeline: Do you have any flexibility around moving and closing dates? Get to the closing table (4 to 6 weeks): This is most likely where you will see some overlap between selling and buying your home.

Equity 104

Equity Loans Debt-to-income ratio Closing 104

HomeLight

NOVEMBER 10, 2021

Or that FHA loan limits vary widely, too? Buyers who are moving from one area of the country to another could be shocked at the difference in prices and loan limits. The conventional loan limit is much higher in Massachusetts, she explains, “so I qualified for a higher mortgage with only 5% down.” Step 9: Order an inspection.

Inspection 82

Inspection Title Agents Pre-approval 82

HomeLight

FEBRUARY 28, 2022

But having a lot of equity in your home doesn’t mean you have immediate access to it – you’ll typically have to sell your house and close on it before you can use that money as a down payment on a new home. The challenge used to be getting a buyer to agree to allowing the seller to stay in the home past the closing date. Transactions.

Equity 115

Equity Debt-to-income ratio Closing Loans 115

HomeLight

FEBRUARY 4, 2022

Guide you through the steps of due diligence and inspections. Coordinate with the closing attorney and seller’s agent to finalize the sale. … While it’s true that a home purchased with a mortgage loan will be evaluated by an appraiser before all is said and done, there’s more to a fair price than a bank’s willingness to loan money.

Agents 89

Agents Purchase and sale agreement Due diligence Inspection 89

HomeLight

MARCH 20, 2023

Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period. If the buyer’s current home sells, the sale of the new home can proceed.

Home sale contingency 85

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 85

HomeLight

JANUARY 4, 2022

iBuyers then allow the seller to close in as little as 10 days but can also provide longer move-out timelines for those who need the flexibility. These people may offer close to full list price, since they aren’t trying to make a profit on the property,” he says. You want certainty of the deal closing. Why sell to an iBuyer?

Investor 98

Investor Finance Inspection Sales 98

HomeLight

MAY 24, 2021

In a hot market, a seller is unlikely to really consider your offer if you aren’t already preapproved for a loan. If you’re looking for a lender that does pre-underwriting as part of the approval process, then we should inform you: HomeLight Home Loans is one of them!). Get preapproved for a mortgage. Can you even pay in cash ?

Pre-qualification 101

Pre-qualification Pre-approval Purchase and sale agreement Loans 101

HomeLight

MARCH 28, 2022

Close in as little as 10 days. Home equity is a homeowner’s financial stake in their property that they own free of their mortgage loan obligation.). Otherwise, it’s possible that you would need to pay money at closing to settle up. Sellers have the ability to close in as little as 10 days. Request Offer.

Purchase and sale agreement 109

Purchase and sale agreement Equity Agents Staging 109

HomeLight

MARCH 22, 2021

She talked about the five parts of an offer: price, earnest money, down payment, close date, and what she calls the miscellaneous bucket. That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. I’ve gonna give them free rent back. BEGIN CONVERSATION).

Agents 69

Agents Inspection Inspection contingency Pre-approval 69

HomeLight

OCTOBER 1, 2020

After a low appraisal on your dream home , you may assume that this is the end of the road because it may mean the termination of your mortgage loan if you can’t work out a deal. Are you able to offer the seller more time to stay in the home, or suggest a rent-back agreement? Can you offer a rent-back agreement to the seller?

Purchase and sale agreement 81

Purchase and sale agreement Short sale Rent back Sales 81

HomeLight

OCTOBER 12, 2020

She talked about the five parts of an offer: price, earnest money, down payment, close date, and what she calls the miscellaneous bucket. That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. I’ve gonna give them free rent back. BEGIN CONVERSATION).

Agents 96

Agents Inspection Inspection contingency Pre-approval 96

HomeLight

APRIL 21, 2022

Even if a buyer has been pre-approved by a lender, the loan could still be denied or delayed due to a change in job status, a low home appraisal , or a dozen different reasons. According to a 2021 National Association of Realtors® survey, financing difficulties were responsible for 29% of closing delays and 10% of terminated contracts.

Inspection contingency 103

Inspection contingency Home sale contingency Pre-approval Agents 103

HomeLight

MARCH 15, 2021

And winning often comes down to something other than price or closing date. Matt: I think in a normal market… Tell me if I’m wrong, but my impression is that in a normal market, of those elements of the offer, price and maybe close date might be the most important pieces. Everyone just assumes it’s a price discussion.

Agents 77

Agents Backup offer Inspection Closing 77

HomeLight

OCTOBER 5, 2020

And winning often comes down to something other than price or closing date. Matt: I think in a normal market… Tell me if I’m wrong, but my impression is that in a normal market, of those elements of the offer, price and maybe close date might be the most important pieces. Everyone just assumes it’s a price discussion.

Agents 72

Agents Backup offer Inspection Closing 72

HomeLight

MAY 24, 2022

Among survey participants, 23% agreed to a closing timeline preferred by the seller which would be more convenient if you’re waiting to move into your new house. Ask buyers to rent back if you need more time to find the right property or rent another home until you do. Buyer concessions offer convenience and savings.

Pre-approval 97

Pre-approval Equity Agents Closing costs 97

HomeLight

DECEMBER 15, 2022

Explaining why you want the house — you love the neighborhood, or it’s close to the grandparents — helps sellers visualize someone else living in their old home. If the appraisal comes in low , or the home inspection reveals major issues, you might want some wiggle room for negotiations. A letter lends a personal touch to your offer.

Inspection 84

Inspection Closing Rent back Agents 84