HomeLight

AUGUST 31, 2021

The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default.

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Pre-approval Short sale Banks Finance 97

Realtor.com

JANUARY 2, 2023

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

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New Construction Construction Pre-approval Inspection 105

Real Trends

DECEMBER 27, 2022

Before a mortgage is approved, lenders will have a property appraisal. On the buyer’s side, if a property’s appraised value is lower than the contract’s value, the mortgage may be declined; the mortgage may be approved if the buyer contributes cash up-front (to make up for the difference in value). Financing fallout.

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Sales Home sale contingency Pre-approval Inspection 60

Redfin

JUNE 14, 2023

The city’s diverse neighborhoods offer a range of affordable suburbs , from historic districts like Fisher Park to modern developments in the suburbs. Prioritize your finances Getting your finances in order is crucial for the homebuying process in North Carolina, as it sets the foundation for a smooth and successful transaction.

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Pre-approval Debt-to-income ratio Closing costs Title 57

HomeLight

MARCH 13, 2023

You are either replumbing the house, rewiring the house, or putting a new roof on the house prior to closing so that a financed buyer can get insurance. As concrete foundations settle on sandy soil, houses may develop settlement cracks and other foundation issues. When time is of the essence, a cash sale could be the quickest solution.

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Sales Investor Due diligence Renovation 80

HomeLight

AUGUST 16, 2021

Department of Housing and Urban Development (HUD) homes for sale portal. But if you’ll need financing, now is the time to talk with a lender. Many home auctions require full payment at the time of purchase, while others may allow a short grace period to finalize financing. Source: (Willy Barton / ShutterStock). Do your research.

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Title Due diligence Finance Inspection 108

HomeLight

MARCH 17, 2021

If you decide buying is a good financial move for you, it’s time to dig into your finances. Pre-qualification is just an estimate of what size loan you might qualify for. With a pre-approval, you typically submit your financial paperwork with your initial mortgage application, and the lender will verify the information.

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Pre-approval Purchase and sale agreement Title Closing 98