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. For example, many agents ask sellers to cover closing costs for their buyer clients. 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

The Close

APRIL 28, 2022

Born from the needs of mortgage buyers to compete with cash buyers, cash lenders will buy a home with cash then allow the buyer to refinance or purchase the property after closing. Once the property is purchased, the buyer rents the property from Homeward until their loan is finalized. Here’s how it works.

Rent back 105

Rent back Closing costs Finance Agents 105

Realty Biz

JULY 7, 2021

It’s the preapproval letter that tells the seller that you’re serious about buying their home and highly likely to close the deal. Contingencies are specific conditions that must be met before the sale can be completed. Require a minimal home inspection. Offer to rent back to the seller.

Inspection contingency 88

Inspection contingency Marketing Inspection Rent back 88

HomeLight

AUGUST 31, 2021

Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. If sellers get paid at closing either way, why is cash better? So a cash buyer can waive appraisals and inspections to sweeten the deal for the seller if they choose. The inspection.

Due diligence 77

Due diligence Inspection Pre-approval Pre-qualification 77

Redfin

MAY 27, 2021

We offered over the list price, added lucky numbers in the offer amount, appraisal gap, waived the home inspection, offered free rent back to the sellers, and more,” said Denver Redfin agent Hunter Owens. With such a competitive housing market, waiving inspection and appraisal contingencies are becoming a standard practice.

Agents 65

Agents Rent back Inspection Closing 65

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

RIS Media

APRIL 18, 2022

Look at recent sale prices, as well as neighborhood trends. Buyers are waiving a home inspection. Allowing the seller to rent back for a specified amount of time. The requested closing date. There’s no guarantee that the property you like will be available when you’re ready to make an offer.

Pre-approval 110

Pre-approval Backup offer Due diligence Rent back 110

RIS Media

JULY 8, 2021

For best results, host a training class or have a sales meeting discussion to review the following six buyer strategies designed to provide the highest value and achieve their buyer’s objectives for purchasing a home: Over-communicate how to compete as a buyer in today’s market. Be relentless and resourceful.

Marketing 101

Marketing MLS Agents Rent back 101

Redfin

FEBRUARY 2, 2021

A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. If you pay in cash the sale can also happen quickly and, overall, lead to a smoother home sale. What is a Seller’s Market? However, even if the U.S. 5) Put More Earnest Money Down.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

Redfin

JULY 30, 2020

More than half of Redfin offers faced bidding wars last month as the number of homes for sale continued to shrink and mortgage rates dropped to a record low, making it all the more advantageous for house hunters to get their offers in ASAP—sometimes before seeing the home in person. . PT on a Wednesday, and went to bed soon after.

Inspection contingency 73

Inspection contingency Purchase and sale agreement Pre-approval Inspection 73

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. Alternatively, HomeLight can provide an all-cash offer to purchase your home through our Simple Sale platform. Like Opendoor, they typically perform a home inspection before finalizing their offer.

Seller concession 96

Seller concession Inspection Rent back Closing 96

Redfin

MAY 7, 2021

In a seller’s market, you may be tempted to put an offer on a home that’s contingent on the sale of your current home. You can typically close within 10 to 60 days after accepting the iBuyer’s offer. Buyers are often willing to offer incentives to close the deal, and they might be more flexible on the timing.

Purchase and sale agreement 79

Purchase and sale agreement Marketing Equity Loans 79

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 92

Closing Earnest money deposit Sales Inspection 92

HomeLight

APRIL 29, 2021

An ample supply (lots of homes for sale) and limited demand (fewer buyers) leads to a buyer’s market. Conversely, lack of supply (fewer homes for sale) and abundant demand (lots of buyers) results in a seller’s market. It can affect: How you prepare your home for sale. Too few resale homes for sale. Home prices rise.

Marketing 109

Marketing Sales Agents Construction 109

HomeLight

APRIL 19, 2021

Closing costs can range from 2.5% to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits. Inspections & attorneys. One-bedroom apartments in co-ops can start at $700,000 in co-ops compared to $1.2

Earnest money deposit 62

Earnest money deposit Due diligence Inspection Agents 62

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. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

Home sale contingency 90

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 90

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. This is why many buyers make offers on their new home that include a sales contingency.

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

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

NOVEMBER 10, 2021

They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. When it’s time for the inspection, they’ll reassure you that a damp basement is normal for the town, or tell you to get it checked out by a professional. Step 9: Order an inspection.

Inspection 87

Inspection Title Pre-approval Agents 87

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. Juggling the sale of one home and the purchase of another can be stressful even under the best of circumstances. Find Agent.

Equity 119

Equity Debt-to-income ratio Closing Loans 119

HomeLight

JANUARY 7, 2022

So, instead of stressing your way through two sales, you can set yourself up for success and have your bags packed for your new home in no time. 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. Do you have a limited amount of time to complete both sales?

Equity 104

Equity Loans Debt-to-income ratio Closing 104

HomeLight

JANUARY 4, 2022

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market, as sellers benefit from new technologies, instant sale platforms , and a competitive housing environment that has increased the percentage of cash offers.

Investor 98

Investor Finance Inspection Sales 98

HomeLight

FEBRUARY 4, 2022

Source: (LinkedIn Sales Solutions / Unsplash). Guide you through the steps of due diligence and inspections. Coordinate with the closing attorney and seller’s agent to finalize the sale. … and being able to close within a period of time that works for both you and the seller. An agent is your advocate.

Agents 94

Agents Purchase and sale agreement Due diligence Inspection 94

HomeLight

MARCH 28, 2022

Simple Sale provides cash offers for homes nationwide for when a traditional listing doesn’t work. Close in as little as 10 days. Otherwise, it’s possible that you would need to pay money at closing to settle up. You might consider a sale-leaseback agreement for a few weeks, she suggests. Get Estimate.

Purchase and sale agreement 113

Purchase and sale agreement Equity Agents Staging 113

HomeLight

APRIL 21, 2022

After listing your home for sale, you eagerly, nervously … anxiously await the news that someone wants to buy it. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Eventually, the call comes.

Inspection contingency 106

Inspection contingency Home sale contingency Pre-approval Agents 106

HomeLight

JANUARY 28, 2022

Not only do they guarantee a cash sale, but they also extend a no-obligation offer and will close on the sale within 30 days. A quick sale is a big plus to working with these buyers, but that sale could cost you in the long run. Need a quick sale? Sell Your Home Without Repairs, Staging, or Showings.

Purchase and sale agreement 108

Purchase and sale agreement Investor Agents Sales 108

HomeLight

OCTOBER 1, 2020

If the appraiser only looked at sold listings while there are pending sales that might be more comparable to your would-be property, that’s something else that can affect a home’s appraised value. Short sales in the neighborhood . In some cases, short sales may be to blame for a low appraisal.

Purchase and sale agreement 86

Purchase and sale agreement Short sale Rent back Sales 86

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 72

Agents Inspection Inspection contingency Pre-approval 72

HomeLight

DECEMBER 14, 2021

Top agent Dave Mattes , who completes 21% more sales than the average agent in Reading, Pennsylvania, thinks that “a good real estate agent is somebody that dedicates enough time to treat their customers well, and they have fast responses, market knowledge, and good communication.”. Do they have sales or listings pending?

Pre-qualification 103

Pre-qualification Earnest money deposit Agents Days on market 103

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 98

Agents Inspection Inspection contingency Pre-approval 98

HomeLight

MAY 24, 2022

Sales of existing homes fell for the second consecutive month by 2.7% Sales dropped from March 2021 in all four major US regions. Prices in March 2022 were 15% higher than a year before for existing home sales. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process.

Pre-approval 98

Pre-approval Equity Agents Closing costs 98

HomeLight

DECEMBER 14, 2021

Top agent Dave Mattes , who completes 21% more sales than the average agent in Reading, Pennsylvania, thinks that “a good real estate agent is somebody that dedicates enough time to treat their customers well, and they have fast responses, market knowledge, and good communication.”. Do they have sales or listings pending?

Earnest money deposit 93

Earnest money deposit Agents Days on market Sales 93

HomeLight

OCTOBER 5, 2020

And winning often comes down to something other than price or closing date. But then again, with some new listings, if the price, location, and condition are right, the sale kind of is like an auction, isn’t it? And just, “Hey, due to the inspection, I’m backing out.”

Agents 77

Agents Backup offer Inspection Closing 77

HomeLight

MAY 24, 2021

Home sales have skyrocketed, and home inventory is historically low. Ask your agent specifically about list-to-sales-price for those comps — how much the house was listed for and how much it actually sold for in the end. You see a house you love, and it’s listed at $300,000. Perfect match, right? Not so fast. Can you even pay in cash

Pre-qualification 104

Pre-qualification Pre-approval Purchase and sale agreement Loans 104

HomeLight

MARCH 15, 2021

And winning often comes down to something other than price or closing date. But then again, with some new listings, if the price, location, and condition are right, the sale kind of is like an auction, isn’t it? And just, “Hey, due to the inspection, I’m backing out.”

Agents 79

Agents Backup offer Inspection Closing 79

HomeLight

SEPTEMBER 11, 2020

That means buyers who want to close a deal need to come prepared with their A-game when it comes to making an offer. Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? No sales contingency? A bigger down payment?

Earnest money deposit 82

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 82

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. They may already be feeling emotional about selling a childhood home , or there could be disputes about the sale proceeds. Pre-foreclosure or short sale transactions.

Inspection 89

Inspection Closing Rent back Agents 89