HomeLight

AUGUST 16, 2021

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. If there’s no way around your need for financing — and that’s totally fine! Source: (Matt Benoit / ShutterStock).

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HomeLight

OCTOBER 29, 2020

Contingencies can range from the relatively minor or otherwise workable — like requesting a $3,000 allowance to fix a plumbing issue that was revealed during inspection — to more serious stipulations, such as a buyer needing to sell their existing house before closing on the next. Home inspections. Buyer financing.

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HomeLight

SEPTEMBER 30, 2021

If you buy a foreclosure, you’ll need to do your due diligence and understand the risks you’re taking. Make sure to get a good inspection, and know what you’re getting yourself into! You may not be able to do an inspection. I would avoid properties that don’t have an inspection or won’t allow an inspection,” Crotts says.

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HomeLight

MAY 24, 2022

Everyone involved will need time to perform their due diligence. While this typically takes just a few days, if the home has been through a foreclosure or short sale, it could take longer. Inspections: One week to book; 2 to 4 hours to complete. Why does it take this long?

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HomeLight

APRIL 29, 2022

“Some people have a lot more time and energy to engage and make the best of the sale, and some people don’t,” says George Graham , a top real estate agent in the Seattle, Washington, area. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds.

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HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in New York Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

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HomeLight

MAY 27, 2021

Step 1: Prepare your finances. Before you can get a mortgage, you have to have your finances in line. You’ll also need money for other costs that come with buying a home, from paying for a home inspection to covering the various fees you’ll be charged at closing. Step 9: Do your due diligence.

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HomeLight

AUGUST 24, 2022

Imagine you list your home for sale and attract a buyer right away who is also willing to offer a top price. However, this buyer needs a mortgage to finance the deal, and that can take months. By contrast, a cash sale can be wrapped up in as few as 7 to 10 days since the transaction doesn’t require a lender’s involvement.

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HomeLight

JULY 31, 2021

Cash investors tend to have access to more capital, resources, and contractors to handle major structural repairs, while traditional buyers are likely to be scared off by an inspection report that flags a faulty foundation. Hot climate. The seller and buyer agree on a price and terms. The buyer and seller sign the closing documents. “In

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Investor Title Due diligence Sales 105

HomeLight

JULY 31, 2021

Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy. A 10-day closing translates as getting your home sold around five times faster than with a buyer who needs financing in today’s market.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

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. Fannie Mae.

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Purchase and sale agreement Title Proof of funds Pre-approval 98