Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said. With rates around 6.9% versus a 6.5%

Loan Officer 379

Loan Officer Loans Seller concession Pre-approval 379

Housing Wire

OCTOBER 21, 2022

In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. The overall ARM loan share rose to 12.8%

Seller concession 342

Seller concession Mortgages Loans Finance 342

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month.

Mortgages 390

Mortgages Seller concession Fixed-rate mortgage Loans 390

Housing Wire

NOVEMBER 16, 2022

For a 3-2-1 rate buydown, the seller contributes a lump sum at closing, which is put in the buyer’s escrow account. Many lenders are offering temporary buydowns on government sponsored enterprise/Ginnie Mae loans, but the non-agency homebuyer has fewer options,” Bob Johnson, chief operating officer at NewRez, said in an email. “By

Seller concession 319

Seller concession Mortgages Lending Loans 319

Realty Biz

JULY 6, 2023

Two common strategies sellers use to entice potential buyers are offering a closing cost credit or a price reduction. What Is a Seller Credit? A seller credit, or a closing cost credit, is an agreement where the seller agrees to pay a portion of the buyer's closing costs. Let's take a look.

Closing costs 86

Closing costs Closing Purchase and sale agreement Seller concession 86

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. About 19.4% About 47.1%

Mortgages 297

Mortgages Loan Officer Marketing Seller concession 297

Housing Wire

FEBRUARY 9, 2021

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. In this situation, your lender approves your loan amount without much hassle. When this happens, your lender will only loan you up to the appraised value.

Earnest money deposit 450

Earnest money deposit Seller concession Loans Lending 450

HomeLight

MARCH 31, 2021

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Seller credits are money the seller gives the buyer at closing.

Closing 83

Closing Seller concession Sales Closing costs 83

HomeLight

APRIL 14, 2023

But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs? Although the down payment is not part of your closing costs, it is typically due at the same time.

Closing costs 84

Closing costs Closing Purchase and sale agreement Title 84

HomeLight

JANUARY 29, 2021

If you’re selling For Sale By Owner, you’ll save on the listing agent’s commission. Other than that, you’re on the hook for the same closing costs as any other seller. Closing costs without a Realtor® typically average 1% to 7% of the final sale price. Closing costs without a Realtor®.

Closing costs 98

Closing costs Closing Seller concession Title search 98

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

Pre-qualification 86

Pre-qualification Seller concession Pre-approval Closing costs 86

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. So if your home sells for $450,000, you could spend anywhere between $27,000 to $45,000 in seller fees. Loan fees, including the origination fee and discount points.

Closing costs 71

Closing costs Closing Seller concession Purchase and sale agreement 71

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans.

Mortgages 383

Mortgages Equity Loans Seller concession 383

HomeLight

MARCH 5, 2024

A seller assist, also known as seller concessions or seller credit , is an arrangement where the seller of a property agrees to cover part of the buyer’s closing costs. Closing costs can include a variety of expenses, such as loan origination fees, title insurance, and appraisal fees.

Seller concession 64

Seller concession Closing costs Title Closing 64

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

HomeLight

MARCH 31, 2021

Whether you’re selling a modern condo in Atlanta’s Midtown or a century-old property in Savannah’s Historic District, you need to know the closing costs sellers are responsible for in Georgia. The last thing you want is sticker shock when you review these subtractions in your seller’s settlement statement. Loan payoff amount.

Closing costs 91

Closing costs Closing Purchase and sale agreement Title search 91

HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Seller FSBO closing costs.

Closing costs 93

Closing costs Closing Title Title search 93

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs.

Closing costs 59

Closing costs Closing Seller concession Homeowner’s association 59

HomeLight

JUNE 16, 2022

You’re likely wondering how much you might make on the sale, but also anxious about how much it will cost to make it happen. Days on the market or DOM is the number of days a property has been on the market from the time it’s listed for sale until the house is taken off the market with a signed contract. Get Estimate.

Seller concession 79

Seller concession Closing costs Inspection Agents 79

HomeLight

MAY 31, 2022

In recent years, we’ve experienced a seller’s market – and many homeowners have been eager to take advantage of the situation. During the pandemic years, plunging interest rates were counter-balanced by rising home sales. Census Bureau and the Department of Housing and Urban Development (HUD), new home sales fell 16.6%

Seller concession 117

Seller concession Closing costs Staging Sales 117

HomeLight

MAY 3, 2023

Depending on the price range of the home, I tell my clients that they need to be ready to spend 9%–10% of the sale price on selling costs, including the real estate agent commission and closing costs,” says Joanne McCoy , a top-selling real estate agent in Lincoln, Nebraska. of the property sales price.

Seller concession 107

Seller concession Purchase and sale agreement Inspection Title 107

Housing Wire

JANUARY 13, 2023

Training LOs and getting on sales calls with real estate agents, insurance agents and wealth managers are what Cohen is prioritizing to drum up sales in a market where he expects rates to be in the 5% levels. Kim: So would you say it’s a seller’s market right now? Cohen: I think I closed the year at about $647 million.

Pre-approval 370

Pre-approval Marketing Seller concession Mortgages 370

Lighter Side of Real Estate

DECEMBER 13, 2023

They’re often willing to pay more for the house, and expect to raise their offer, but when they come in too low it can get a seller so angry that they won’t budge as much as they would have, or even respond at all sometimes. Can you ask for those things to be included in the sale?

Seller concession 107

Seller concession Home sale contingency Closing Closing costs 107

HomeLight

DECEMBER 2, 2021

Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. We break down what the cost of a home sale could look like based on the average U.S. Cost to seller.

Seller concession 106

Seller concession Staging Inspection Renovation 106

HomeLight

JUNE 14, 2022

Embarking on a sales transaction of that size calls for some planning, including understanding the costs, potential proceeds, and how long your home might be on the market so you can anticipate your next move. You can probably expect to run into these common expenses for home sellers in Chicago: Prepping your house for sale.

Seller concession 83

Seller concession Purchase and sale agreement Closing costs Title 83

HomeLight

JUNE 14, 2022

Days on the market or DOM is the number of days a property has been on the market from listing until having a signed sales contract. 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. Seller concessions.

Seller concession 94

Seller concession Closing costs Agents Closing 94

HomeLight

APRIL 17, 2024

Both promise to buy your home for cash, and close quickly. Alternatively, HomeLight can provide an all-cash offer to purchase your home through our Simple Sale platform. 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. What is Offerpad?

Seller concession 91

Seller concession Inspection Rent back Closing 91

HomeLight

SEPTEMBER 27, 2022

After new home sales set records in 2021 , the Texas housing market cooled in recent months, generally seeing decreases for homes under $400,000 that offset increases for homes priced over $750,000. To illustrate, if you sold your Texas Craftsman home for $325,000, the seller’s costs could range from $22,750 to $26,000.

Seller concession 66

Seller concession Closing costs Homeowner’s association Title 66

Redfin

MARCH 3, 2022

Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?

Closing 63

Closing Title search Purchase and sale agreement Title 63

HomeLight

APRIL 14, 2023

In this guide, we will review the pros and cons of each approach to help you decide which makes the most sense for your home sale. Get a cash offer with HomeLight’s Simple Sale If you want to sell your house fast in Miami, HomeLight’s Simple Sale all-cash offer platform could be the perfect solution. The company has 4.6

Sales 78

Sales Due diligence Agents Closing 78

HomeLight

JULY 12, 2022

First-time buyers were responsible for 27% of those sales, down from 31% in May 2021. All-cash sales accounted for 25% of May transactions, up from the 23% recorded a year ago. Higher prices and mortgage rates conspired to slightly slow sales, which were down 2.6% from the prior month and 8.6% from one year ago. Get Estimate.

Seller concession 89

Seller concession Closing costs Renovation Title search 89

Realtor.com

DECEMBER 1, 2022

High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front. After the COVID-19 pandemic-fueled homebuying rush reduced the number of homes for sale to all-time lows, the inventory of housing has since rebounded.

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

HomeLight

JUNE 24, 2022

This free automated valuation model (AVM) tool will use recent sales transactions, local market trends, and your home’s latest selling price, to provide a preliminary range of value for your property in under two minutes. The estimate is a ballpark indicator of how you might set the sale price. Total concessions or buyer incentives.

Seller concession 75

Seller concession Closing costs Inspection Homeowner’s association 75

HomeLight

OCTOBER 20, 2022

In the current shifting market, sellers in Austin have several strategies to consider. End-of-year listings have historically garnered the highest sales prices in the Austin market. The cost to sell a house in Texas generally averages about 7% to 8% of the final sale price. Common expenses for home sellers in Austin.

Seller concession 82

Seller concession Purchase and sale agreement Closing costs Inspection 82

Realty Biz

JANUARY 19, 2024

Take a close look at your income, expenses, and existing debts. Research different types of mortgages available, such as conventional, FHA, or VA loans. This will give you a better understanding of the loan amount you qualify for and the potential monthly payments.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

HomeLight

NOVEMBER 7, 2022

Manderscheid, who sells properties more than 56% quicker than the average agent in the Houston market, knows how to close the deal efficiently. The cost to sell a house in Texas generally averages about 7% to 8% of the final sale price. Common expenses for home sellers in Houston. Prepping your home for sale.

Seller concession 75

Seller concession Purchase and sale agreement Closing costs Inspection 75

Realty Biz

APRIL 20, 2022

When the home inspection finds some problems, the seller might agree to cover the cost and have the problem fixed. The language in the offer to purchase will allow you to escape the sale with your money back. You can’t decide to let the seller know you’re backing out after the inspection clause expires.

Purchase and sale agreement 105

Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 105