HomeLight

SEPTEMBER 30, 2021

Once you accept an offer from your buyer, you’ll complete any additional steps to close such as the inspection and appraisal. At that point, they’ll need to contact the lender to complete a short sale, which is when you sell for less than what you owe.”. Accept an offer and open escrow. Can you have two mortgages at once?

Mortgages 102

Mortgages Debt-to-income ratio Equity Closing costs 102

HomeLight

JULY 29, 2022

This can radically alter their debt-to-income ratio and jeopardize the whole deal. So get a contract, then call for a home inspection, and then call the insurance company — those are the calls that you make before you do anything else.”. Maybe inspection repairs haven’t been completed as promised or expected.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

The Close

DECEMBER 29, 2022

.” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97