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Opinion: What you need to know for a successful real estate transaction

Housing Wire

The buyer must wait for bank approval, secure financing, complete inspections and perform last-minute walk-throughs to ensure all necessary documents and requirements are being processed. How does a title search ensure the property is being sold without liens or encumbrances? Then, deposits and any other payments can be made.

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New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

Plus, title companies that work with builders tend to do “batch” title searches on the new parcels in a community all at once. You can’t inspect a new-construction home before you buy it. You can absolutely do a home inspection before you purchase a new construction.

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Who Pays for the Appraisal and Why This Key Homebuying Step Is Worth Every Penny

HomeLight

The Appraisal Institute , a global professional association of real estate appraisers, calls an appraisal “the act or process of developing an opinion of value.”. The difference between a home appraisal and a home inspection. You’ll learn jargon you’ve never heard before, like earnest money , escrow, and title search.

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10 Costs Associated with Buying a Home

Windemere Buying

They include but are not limited to underwriting fees, credit check fees, title insurance and title search, escrow fees, and more. Even after having completed a thorough home inspection, underestimating repairs expenses can be a costly mistake.

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4 signs a pending home sale will fall through

Real Trends

Inspection issues. An inspection can often reveal major issues that either side would not have been aware of. Whatever side you are on, being aware of inspection issues and how to work with them will be paramount in increasing your close rate. Reasons your deal may slip: 1. Asynchronous appraisal. Home sale contingency.

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Heads Up Seller: You’re on the Hook for Paying Both Real Estate Agents’ Commission

HomeLight

They’ll assess your home’s features, location, construction, and other factors to develop the best possible pricing strategy for your sale. Searching the MLS: A buyer’s agent has access to the Multiple Listing Service, meaning that they offer their clients a broader selection of potential properties. Buyer’s agents.

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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

Again, the timeline varies by state, but this typically begins three to six months after the first missed payment , according to the Department of Housing and Urban Development (HUD). That’s why a home inspection is so important if you’re able to do one. Drawbacks of a foreclosed property. They’re usually sold ‘as-is’.