Realty Biz

MAY 16, 2021

With existing home inventories super tight and competition among buyers for the few homes that are listed for sale, many have struggled to buy a new home before they leave the one they’re selling. I’d say a third of the current contracts being written have a rent-back of some length, and it’s usually free to the seller,” Marks said. “If

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Purchase and sale agreement Rent back Sales As-is 74

HomeLight

APRIL 29, 2021

From cocktail parties to backyard barbecues, it seems like everyone around you is talking about how hot the real estate market is. So does that mean you’re in a buyer’s market or a seller’s market? Like stock prices, the real estate market fluctuates. It can affect: How you prepare your home for sale.

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Marketing Sales Agents Construction 109

HomeLight

MAY 5, 2022

Nothing deflates the excitement of buying a home faster than a seller who’s still in the house after closing. That said, a seller remaining in the home after closing isn’t always a nightmare scenario. We’ve got solutions and options for the specific scenario you face, whether it’s: You need to negotiate a rent-back.

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Rent back Closing Purchase and sale agreement Agents 107

Realtor.com

DECEMBER 10, 2020

But it’s not the only negotiable part of the sale—there are plenty of other ways to haggle aside from list price. “In In this market, trying to negotiate a sales price probably won’t get you far.”. In a competitive market, buyers might be tempted to forgo a home inspection to speed up the process and appeal to sellers.

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Closing costs Inspection Closing Rent back 142

Realty Biz

JULY 7, 2021

There may not be enough houses on the market right now, but more are coming on the market every day. It’s the preapproval letter that tells the seller that you’re serious about buying their home and highly likely to close the deal. When the market demands it, your highest offer should be at the high end of the market analysis.

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Inspection contingency Marketing Inspection Rent back 88

HomeLight

AUGUST 4, 2022

You have options, such as a rent-back agreement, aka, a lease-back deal, that would allow you to stay in the home you just sold a bit longer to give you time to find a new place, to wait for the next home to be built , or to let your children finish the school year. What is a rent-back agreement?

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First Team Real Estate

MAY 25, 2021

Southern California home prices hit an all-time high this April as the hot seller’s market got even hotter. Bidding wars are extremely common across the Southern California housing market as tons of buyers compete for limited inventory , helping to drive up median prices. Sales: Up 101%. Sales: Up 97.9%.

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Rent back Closing costs Sales Mortgages 98

Redfin

MAY 7, 2021

Homeowners in a seller’s market face a conundrum. You can expect high prices in a competitive housing market where homes are selling in record time. Here are six options to consider when deciding on selling and buying in a seller’s market. 6 options for selling and buying in a seller’s market.

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Purchase and sale agreement Marketing Equity Loans 79

Redfin

FEBRUARY 2, 2021

What is a Seller’s Market? 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. A seller’s market usually results in rising home prices and stiffer competition among homebuyers. How has the pandemic affected the market?

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The Close

APRIL 28, 2022

In today’s tight inventory market, trying to help buyers with financing and limited funds feels a little like getting into a boxing match with Mike Tyson. Here are the top 10 that have helped my team successfully beat out cash offers—yes, even in this red hot market. We are not offering legal advice. Here’s how it works.

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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. The home sale process involves a long list of steps, and your execution of each impacts your final sale price. As with most things in life, preparation is the key to a successful home sale. Landscaping: 100 %.

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Purchase and sale agreement Pre-approval Inspection Inspection contingency 96

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?

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Purchase and sale agreement Rent back Loans Agents 52

RIS Media

APRIL 18, 2022

Take time to understand the current housing market. You’ll want to be sure you understand the current market and what houses are available. Look at recent sale prices, as well as neighborhood trends. Is it a buyer’s market or a seller’s market? All real estate is local, after all.

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Pre-approval Backup offer Due diligence Rent back 119

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. That’s not including the luxury market—the median sold price in my area in Florida is around $300,000. That could be a pretty sizable chunk of money from the seller’s profit.

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HomeLight

APRIL 27, 2022

And according to a recent survey, 83% of real estate agents expect these trends to continue into 2022, though a more balanced market may start to emerge in the second half of the year as interest rates rise. The best way to ensure that you’re setting the best price for your house sale is to work with a top agent. Get Estimate.

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Renovation Agents Sales Rent back 101

Redfin

MAY 27, 2021

It’s no secret that the US housing market is fiercely competitive right now, with homes selling faster and for more money than pre-pandemic levels. On top of that, if the house didn’t appraise for the sale price, they offered to pay a portion between the appraised value and sell price.”. “A Who could say “no” to a free 2-week vacation?

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Agents Rent back Inspection Closing 65

Real Trends

MARCH 3, 2022

No matter how much prep, effort and marketing you’ve put into your listing, it’s likely to sell quickly and for over-list price in this seller’s market, which is nothing to brag about. . When you’re the listing agent: Please don’t list and ghost.

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Agents Due diligence Inspection Rent back 103

HomeLight

SEPTEMBER 30, 2020

As excited as you are about the prospect of a successful sale, you’re hesitant to sign a contract without knowing you’ll have somewhere to go. On the flip side, the U&O can allow the seller to remain in the home for a certain amount of time after closing (also known as a “rent-back” agreement).

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Purchase and sale agreement Closing Rent back Investor 55

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 you’re looking to buy a home in such a market, you need to understand how a cash offer on a house works and what makes such an offer appealing to sellers. There’s no financing contingency.

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Due diligence Inspection Pre-approval Pre-qualification 80

HomeLight

APRIL 17, 2024

Both promise to buy your home for cash, and close quickly. Selling a home the traditional way can be stressful and time consuming, especially in a shifting market. Alternatively, HomeLight can provide an all-cash offer to purchase your home through our Simple Sale platform. Need to sell your home fast? What is Opendoor?

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Seller concession Inspection Rent back Closing 101

Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% 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. In June, 19.9% during the same month in 2019. up from 17.4% up from 17.4%

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Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

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.

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Closing Earnest money deposit Sales Inspection 97

Redfin

JULY 30, 2020

Almost half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015, according to a Redfin-commissioned survey in May and June of more than 1,400 people across 29 major markets. Yaaran said. They must have thought I was mad, but we won! Methodology.

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Inspection contingency Purchase and sale agreement Pre-approval Inspection 73

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.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 95

HomeLight

APRIL 19, 2021

But getting to live in such a cultural epicenter means getting ahead of an exceptionally competitive real estate market. We interviewed real estate experts with decades of experience to help you win a bid on your own home in Manhattan’s hyper-competitive, fast-paced market. Closing costs can range from 2.5% million in condos.

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Earnest money deposit Due diligence Inspection Agents 63

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.

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Rent back Inspection contingency Earnest money deposit Finance 104

HomeLight

MARCH 31, 2021

Does a ‘Sale Pending’ sign materialize on your neighbor’s yard a few days after a “For Sale” sign appears? If these scenarios ring true, chances are you’re in the midst of a seller’s market. A seller’s market exists when there are more homebuyers than available homes.

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Marketing Banks Land Sales 89

HomeLight

JULY 29, 2022

Each option may have advantages that depend on market conditions. Our Home Value Estimator 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. Start by understanding the market. In a buyer’s market.

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Debt-to-income ratio Loans Rent back Equity 109

First Team Real Estate

MAY 21, 2021

In order to get your home offer accepted in today’s tight seller’s market, you’ve got to be quick, smart, and totally in sync with your real estate agent. According to recent data from NAR , home sales are receiving an average of 4 offers, and our FirstTeam agents regularly see bidding wars that capture upwards of 20 offers!

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Purchase and sale agreement Rent back Marketing Agents 98

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.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

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?

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Equity Loans Debt-to-income ratio Closing 104

HomeLight

FEBRUARY 28, 2022

In a perfect world, you can put your current house on the market, sell quickly to get your equity out of your home to use for a down payment, and find your next dream home just as quickly. Juggling the sale of one home and the purchase of another can be stressful even under the best of circumstances. Complicated logistics. Find Agent.

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Equity Debt-to-income ratio Closing Loans 122

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.

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HomeLight

AUGUST 16, 2022

We’ll get into more details shortly, but it is safe to say that market activity is to blame (or thank!) Interest rates adjust based on how the overall market is doing. The International Monetary Fund has a great explainer on these market ups and downs if you’re up for some further reading. Why did mortgage rates rise?

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Mortgages Fixed-rate mortgage Agents Rent back 134

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. How’s the real estate market? No staging, no repeated showings, no agent commissions. Get Estimate.

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Purchase and sale agreement Equity Agents Staging 115

HomeLight

AUGUST 17, 2022

In short, the market is what drives interest rates. And “the market” means everything from stocks to inflation to consumer spending habits — so when the Covid-19 pandemic hit and brought everything to a screeching halt, well, the powers that be had to do something to get dollars moving around again. Prime rates and the bond market.

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Mortgages Rent back Fixed-rate mortgage Banks 84

HomeLight

APRIL 21, 2022

After listing your home for sale, you eagerly, nervously … anxiously await the news that someone wants to buy it. To help you evaluate your first offer, we’ll walk you through key consideration points, how to weigh the strength of the offer, encourage you to assess your objectives, and how to factor in market conditions. Find an Agent.

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Inspection contingency Home sale contingency Pre-approval Agents 108