Redfin

JULY 8, 2025

Buying a preforeclosed home can offer opportunities but requires careful due diligence. This notice informs the homeowner that they have missed a specified number of mortgage payments and are in default of their loan agreement. Reinstate the loan: Pay all missed payments , fees, and penalties in a lump sum.

Purchase and sale agreement

AAOA

MAY 22, 2025

Understanding What Youre Really Buying When youre buying an apartment building , youre not just purchasing property, youre acquiring a business. Understand what size loan you can qualify for. Start with a Letter of Intent (LOI) outlining your terms, then proceed to a formal Purchase and Sale Agreement (PSA) once its accepted.

Due diligence

Redfin

JUNE 5, 2025

Many cash buyers assume that by sidestepping a home loan, they also bypass the complex array of fees associated with closing. Sellers often prefer cash buyers because there’s less risk of a loan falling through, and the whole closing process can happen much faster. home purchases were made in cash in 2024.

Closing costs

Redfin

JANUARY 28, 2025

Assumable mortgages offer a unique alternative, allowing buyers to take over the sellers existing loan – potentially locking in a lower interest rate and saving money over time. From evaluating the loan terms to understanding the hidden costs, assuming a mortgage isn’t a decision to take lightly.

Loans

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles What Does a Real Estate Lawyer Do? These documents include purchase agreements, deeds, titles, lease agreements, and financing contracts.

Purchase and sale agreement

Redfin

JUNE 17, 2025

Selling a house can be a long process, and it makes sense that the seller would want to know when the seller gets money after closing – especially if those funds are being used to purchase a new home. What needs to be done before settlement It typically takes between 30-60 days from accepting an offer on your home to closing a sale.

Closing

Redfin

AUGUST 5, 2025

Home buyers can legally purchase a home from their parents or any family member. Of course, this depends entirely on the circumstances of the sale, but you’ll likely avoid a bidding war. For the sale to work out, you may need to be ready to move in at the same time your parents are ready to move out. Can I buy my parents’ house?

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Understanding the cash sale process, weighing the pros and cons, finding a reputable cash home buyer, and preparing your house for a cash sale are all essential steps to ensure a successful transaction. Research and seek recommendations for trustworthy companies or individuals specializing in cash purchases.

As-is

Redfin

JUNE 26, 2025

As a buyer, you can negotiate a lower sale price to account for cost of remediation and get a better deal on a home. Let’s go over the risks of buying a home with mold, how to identify it, and when it might make sense to purchase a house despite its presence. However, they can refuse to pay it.

Purchase and sale agreement

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million; and pool 3, $312.9

Loans

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans

HomeLight

MARCH 7, 2024

But what happens if you’re now facing the decision of submitting a buyer cancellation of the purchase agreement? In this guide, we’ll break down what you need to know about buyer cancellation of a purchase agreement. What is a home purchase agreement?

Purchase and sale agreement

HomeLight

DECEMBER 12, 2023

Perhaps the biggest gear that needs to turn in your favor is the mortgage loan. A mortgage contingency is a clause in a real estate contract that makes the purchase contingent , or dependent, on the buyer securing a mortgage loan. Securing the loan: During the specified period, you must obtain a mortgage that meets these terms.

Earnest money deposit

AAOA

MARCH 20, 2025

Due diligence is a critical step in purchasing real estate. This includes performing physical due diligence on the building, financial due diligence by reviewing financial records and all the paperwork, and legal due diligence to ensure everything is in order from a legal perspective.

Due diligence

Realty Biz

FEBRUARY 20, 2021

Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. Some of these clauses can benefit you when purchasing a home, so we will look at some of the contingency clauses you might encounter when buying a property. Real Estate Contingencies Explained.

Purchase and sale agreement

Realty Biz

JUNE 15, 2022

Things to Find Out Before Purchasing Land. Performing due diligence is vital when purchasing a home. However, it is important to ask questions and get advice before making a purchase. These are the questions that you should either ask a Realtor or a land owner before making a purchase. Is The Land Buildable?

Land

HomeLight

SEPTEMBER 10, 2022

Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. These clauses are most often used when a buyer needs to sell their current home before purchasing a new one. A contingency is a condition that must be met for the purchase to proceed.

Purchase and sale agreement

HomeLight

AUGUST 31, 2021

But what if a portion of your rent were going toward purchasing your rental home at a later date? Rent-to-own basics: Crediting rent toward a future purchase. A rent-to-own deal means you can start paying toward a home purchase even if you can’t technically qualify for a mortgage yet. Source: ( Shopify Partners / Burst ).

Purchase and sale agreement

Realtor.com

JANUARY 12, 2021

When is a sale a sale? It is absolutely critical that, as a seller, you understand the purchase agreement and any counteroffers you sign. “Read the agreements to find out if you have any outs in the contract,” says Meyers. Then it happens—another offer comes in, and a better one at that.

Backup offer

HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

Sales

HomeLight

FEBRUARY 14, 2022

These possibilities can be stipulated in the rent-to-own agreement — which is also sometimes referred to as lease-purchase, or a lease-option agreement. With a rent-to-own or a lease-purchase agreement, however, the tenant has already agreed to buy the home after a specified period.

Purchase and sale agreement

HomeLight

JUNE 19, 2023

Basically, a rent-to-own real estate purchase means that you can live in the house as a renter with the intent to close on the home at a date in the future. Lease purchase: This type of contract requires the buyer to purchase the property at the end of the contract term. Purchase price: The price you will pay to own the home.

Purchase and sale agreement

HomeLight

NOVEMBER 1, 2021

If you suspect this is the case and have evidence to back it up, you may be able to save the sale if you can convince the appraiser to reconsider. Approximately 9% of home appraisals come in below the sales price. The first step to saving the sale is to request a reconsideration of value (ROV). Reconsideration of value process.

Sales

HomeLight

MAY 27, 2021

But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. We include advice from an agent who has worked with hundreds of new buyers, descriptions of different loans, and information about the many kinds of paperwork you’ll deal with. Source: (Matthew Henry / Burst).

Loans

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

Sales

HomeLight

MAY 24, 2022

If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. But just how long does it take to close on a house with cash, compared to a traditional loan? Everyone involved will need time to perform their due diligence. Average Price Point.

Purchase and sale agreement

HomeLight

SEPTEMBER 13, 2022

It will determine whether or not the buyer needs to acquire a loan and/or what sort of taxes the seller may face once the deal is complete. If the IRS decides to audit the transaction, then you’ll have documentation to prove your home’s fair market value at the time of the sale. Sign a purchase agreement.

Purchase and sale agreement

HomeLight

DECEMBER 30, 2021

We’ll also hear from Richie Helali of HomeLight Home Loans for an inside scoop on the loan-related documents for buying a house. Your agreement with a buyer’s agent may be one of the first legal documents you’ll encounter when buying a home. Dobbs works in Illinois, where buyer representation agreements are not common.

Purchase and sale agreement

HomeLight

FEBRUARY 4, 2022

If you haven’t purchased a home before, you probably have lots of questions about the process. Source: (LinkedIn Sales Solutions / Unsplash). Work with you to write a compelling purchase offer. Guide you through the steps of due diligence and inspections. An agent is your advocate. And lots more!

Agents

Realty Biz

SEPTEMBER 14, 2023

They have a comprehensive understanding of real estate laws and regulations, which allows them to identify any potential issues or risks associated with a property purchase. Let's explore the different parties: Buyers Real estate attorneys work closely with buyers to navigate the complex legal aspects of purchasing a property.

Purchase and sale agreement

HomeLight

SEPTEMBER 15, 2021

Even if you’re listing your home without a Realtor’s® help, you’ll still need to gather the necessary paperwork for the sale and fill it out correctly. We hope it helps illuminate this tricky part of the sale, while giving you an honest idea of just how complex real estate transactions can be! Original sale contract.

Purchase and sale agreement

HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Why do sellers love cash so much? Not always!

Closing

The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. What Happens in a Real Estate Short Sale? Lets begin!

Short sale

HomeLight

JANUARY 25, 2021

House flippers usually purchase houses for cash as-is, saving homeowners the expense of making repairs that lenders might require, along with the stress of showing and staging the home. A traditional sale might be what you had in mind when you originally bought your home. Is the property damaged or are you facing a personal emergency?

Purchase and sale agreement

Redfin

MARCH 12, 2021

Earnest money is a type of security deposit, also known as a “good faith” deposit, offered to show the seller of a home that you’re serious about purchasing the property. At this stage, various inspections, appraisals, and possibly other contingencies you had in the offer contact move forward to finalize the sale. .

Earnest money deposit

HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent.

Earnest money deposit

HomeLight

JANUARY 5, 2022

Find an Agent to Coordinate a Sale Among Friends. Not all states require you to hire a real estate attorney to buy or sell real estate, but it’s almost always advisable to get legal representation in a sale among parties with a pre-existing relationship. HomeLight can help connect you with an agent who is qualified to help.

Pre-approval