Remove Debt-to-income ratio Remove Inspection Remove Title search
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17 First-Time Homebuyer Mistakes to Consider and How to Avoid Them

Redfin

Don’t skip critical steps like the home inspection or negotiating closing costs. Skipping the home inspection Some people waive the home inspection to speed up the buying process, but skipping this step can be costly in the long run. An inspection typically costs between $300 and $500, and it’s well worth the investment.

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Can You Put an Offer on a House That’s Contingent?

RIS Media

Something can come up (such as an unanswered financial obligation or a significant purchase before the closing that changes the debt-to-income ratio) and put a home back. . Home inspection problems. The title search reveals issues. The title needs to be clean. Low appraisal.

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What Does It Mean to Back Out of a Home Purchase?

HomeLight

You become ineligible for financing: Various factors, such as changes in your credit score or debt-to-income ratio , can suddenly make you ineligible for the mortgage you were relying on.

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Tips for Buying a Foreclosure Property

Point2Homes

Lenders will normally look at your debt-to-income ratio to determine whether you qualify for a loan. Typically, they don’t want you to have debts that add up to more than 43% of your gross monthly income. The Home Inspection. The home inspection is a critical aspect when buying a foreclosure.

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What’s the Difference Between a House Under Contract and a Pending Sale?

RIS Media

A title search may reveal a lien on the property, the buyer may be unable to get financing because of a low credit score or high debt-to-income ratio, or the house may appraise for less than the agreed-upon price. Common contingencies relate to a home inspection and financing, but there may be others.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. From appraisal issues to home inspection roadblocks, there’s a lot that can go awry before finally closing on your property. Major damage is found during the home inspection.

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Home Buying Checklist: A Survival Guide for Buyers

Redfin

Determining how much house you can afford is the first step in the home buying checklist – setting a realistic budget will relieve stress in the long run and help narrow your home search. Here are the steps to determine how much house you can afford: First, determine your debt to income ratio (DTI).