RIS Media

APRIL 18, 2022

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 a home inspection. Buyers are waiving their home appraisal or offering an appraisal gap guarantee.

Pre-approval 114

Pre-approval Backup offer Due diligence Rent back 114

Windemere Selling

SEPTEMBER 1, 2021

Above all, the balancing act required to pull off both deals highlights the importance of working closely with a trusted and experienced real estate agent. Sellers may also negotiate a rent-back agreement with the buyers, allowing them to rent the house from the new owners before they move in. Do I buy or sell first?

Purchase and sale agreement 52

Purchase and sale agreement Rent back Loans Agents 52

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

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

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 95

Purchase and sale agreement Pre-approval Inspection Inspection contingency 95

HomeLight

AUGUST 31, 2021

A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. Let’s take a closer look at each piece.

Due diligence 78

Due diligence Inspection Pre-approval Pre-qualification 78

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

JULY 28, 2020

Waiving these contingencies is a common strategy homebuyers use to make their offers more competitive by assuring the seller that the deal will close without unforeseen hiccups and negotiations. Winning offers waived the appraisal contingency at a similar rate—20.6%—up up from 17.4% The standard in California is 21 days.

Inspection contingency 59

Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

HomeLight

APRIL 17, 2024

Both promise to buy your home for cash, and close quickly. 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. ” Opendoor will let you stay in your house up to 17 days after you close through their Late Checkout program.

Seller concession 98

Seller concession Inspection Rent back Closing 98

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 94

Closing Earnest money deposit Sales Inspection 94

HomeLight

APRIL 19, 2021

Closing costs can range from 2.5% Sellers appreciate cash offers because of their faster timelines, as there’s no need to wait for a mortgage loan. Studio apartments with an alcove for more space start at $650,000 in co-ops compared to $860,000 in condos. 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 Inspection Due diligence Agents 62

Redfin

FEBRUARY 2, 2021

1) Get Pre-Approved for a Home Loan. A rent-back agreement is a great option for buyers to purchase the home and then rent it back to the seller to give them time to find a new place to live. During the negotiation process, you may have a better chance of closing the deal if you are willing to make compromises.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

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. Buyers may also throw in deal sweeteners such as a seller rent back , which allows you to stay in the home (renting from the buyer for a period of time) after closing.

Marketing 109

Marketing Sales Agents Construction 109

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. They’re waiting for the sale of your house to close before they know for sure that their home will sell.

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

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

JULY 29, 2022

While you’re likely to sell your home quickly – possibly above asking, with few to no contingencies , and possibly a quick close – you may experience difficulty finding the next one. Transition via rent back. Extend the closing period. According to Barber, the second-most popular option is extending the closing period.

Debt-to-income ratio 109

Debt-to-income ratio Loans Rent back Equity 109

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 120

Equity Debt-to-income ratio Closing Loans 120

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.”

Inspection 88

Inspection Title Agents Pre-approval 88

HomeLight

MARCH 20, 2023

They’ve accepted an offer and set a closing date, thus their current home sale just needs to be “settled” in order for the purchase of the new home to go through. Thus, the offer on their new home would be contingent on them first finding buyers and then closing the sale on their current home. Offer to pay the seller’s closing costs.

Home sale contingency 92

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 92

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!). Your loan-to-value ratio has increased, from 80% to 86.3%.

Pre-qualification 105

Pre-qualification Pre-approval Purchase and sale agreement Loans 105

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 87

Purchase and sale agreement Short sale Rent back Sales 87

HomeLight

FEBRUARY 25, 2022

For small markets: closed at least 50 transactions in the last 12 months. For large markets: closed at least 100 transactions in the last 12 months. While everyone wants to make money when they sell, you might have other goals — selling quickly due to a relocation, or getting a rent back period. Ideal Agent reviews.

Agents 87

Agents Pre-approval Loans Sales 87

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

AUGUST 17, 2022

With the help of Richie Helali from HomeLight Home Loans and Leanne Hester , a top real estate agent based in Newport News, Virginia , we’re taking a deep-dive into why mortgage rates are rising and what it all means for homebuyers and sellers. According to experts, though, now is still a good time to buy (or sell!) Leanne Hester.

Mortgages 81

Mortgages Rent back Fixed-rate mortgage Banks 81

HomeLight

FEBRUARY 4, 2022

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. Help you identify possible opportunities for negotiation.

Agents 95

Agents Purchase and sale agreement Due diligence Inspection 95

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 113

Purchase and sale agreement Equity Agents Staging 113

HomeLight

AUGUST 16, 2022

To help with our predictions of when mortgage rates will go down, we’ve researched the state of the housing market and spoken with two experts: Richie Helali of HomeLight Home Loans and Newport News, Virginia -based top real estate agent Leanne Hester. I think the lack of inventory is keeping them from buying homes right now. Leanne Hester.

Mortgages 134

Mortgages Fixed-rate mortgage Agents Rent back 134

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 107

Inspection contingency Home sale contingency Pre-approval Agents 107

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 98

Pre-approval Equity Agents Closing costs 98

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 73

Agents Inspection Inspection contingency Pre-approval 73

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

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 79

Agents Backup offer Inspection Closing 79

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 78

Agents Backup offer Inspection Closing 78

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. HomeLight commits to a 21-day close for free for buyers who qualify. With HomeLight Cash Offer, you can make your strongest offer possible, and commit to a 21-day close.

Inspection 90

Inspection Closing Rent back Agents 90