Toronto Realty Blog

NOVEMBER 13, 2023

Peter tells John, “I wanted to let you know that I am going to list the condo for sale.” The property is listed for sale and ends up selling after about three weeks. Bob the Buyer is a young man who is purchasing his first home, and is excited to move into the condo in the fall. And what does Bob the Buyer do?

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Purchase and sale agreement Residential Closing Pre-approval 106

Housing Wire

NOVEMBER 9, 2023

Based on the jury verdict in the Sitzer/Burnett lawsuit, Murray believes the DOJ will not be satisfied with the terms and the scale of changes outlined in RE/MAX’s and Anywhere’s settlement agreements and that it will get involved. loosing 5%-6% of the sale price is substantial equity stripping in their minds.”

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Purchase and sale agreement Title Agents Equity 431

HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 110

GeekEstate

OCTOBER 29, 2021

I’m excited to release Thomvest’s real estate technology market map, which includes more than 240 companies operating within the residential real estate segment. This is the third update to the market map and includes over 100 additional companies — a testament to the pace of entrepreneurship in this segment.

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Technology Marketing Purchase and sale agreement Equity 135

HomeLight

JANUARY 19, 2024

But it can also tilt a sale in your favor. Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Learn More What is a mortgage contingency?

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Earnest money deposit Purchase and sale agreement Mortgages Home sale contingency 107

Housing Wire

FEBRUARY 20, 2024

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada. .

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Inspection Inspection contingency Purchase and sale agreement Residential 410

Realty Biz

JANUARY 15, 2024

In today's real estate market, buying a house before selling yours is possible. One popular option is a bridge loan, a short-term loan that allows you to finance the purchase of a new home while you wait for your existing home to sell. What Are Ways to Finance the Purchase? Can I Buy a House Before Selling Mine?

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Pre-approval Purchase and sale agreement Finance Equity 105

HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? If the buyer fails to secure financing, they can withdraw without losing their deposit.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 113

Housing Wire

JULY 13, 2021

Guaranteed Rate, the Chicago-based mortgage lender , and Compass, the New York City-headquartered residential real estate brokerage , “entered into a definitive agreement to form OriginPoint , a new mortgage origination company,” according to a press release Tuesday. 2 brokerages in residential sales volume nationally – and bitter rivals.

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Purchase and sale agreement Brokerage Loan Officer Mortgages 295

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” An assumable mortgage is a type of home loan that allows a new buyer to take over the seller’s existing loan terms as part of the property purchase.

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Loans Purchase and sale agreement VA loan Mortgages 111

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.

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Sales Purchase and sale agreement Due diligence Inspection 101

HomeLight

SEPTEMBER 30, 2020

Unexpected setbacks and misfortunes happen, whether that stems from a dramatic housing market downturn, getting laid off, or any other wrenches that life (or a worldwide pandemic) throws into your plans. If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales 101.

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Realty Biz

JULY 11, 2022

When you set out to purchase a home as buyer you will eventually find a property you love. At that point, you’ll sit down and construct on offer to purchase. The offer will spell out all of the common terms and conditions such as the offer amount, what you’re financing, any contingencies, and the closing date.

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Earnest money deposit Purchase and sale agreement Marketing Equity 76

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. VA-backed mortgage as marketing.

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VA loan Purchase and sale agreement Short sale Pre-approval 81

HomeLight

JULY 31, 2020

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale. How do short sales work?

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Short sale As-is Purchase and sale agreement Sales 103

HomeLight

NOVEMBER 9, 2021

Any additional information the appraiser used in the appraisal process, including market sales data, public land records, or tax records. If you are selling or refinancing your home, the lender that is financing the mortgage will schedule the appraisal. Appraisal for a lender-financed home sale.

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Purchase and sale agreement Equity Bankruptcy Finance 102

HomeLight

JULY 30, 2021

We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements. Lease-purchase agreements.

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Purchase and sale agreement Debt-to-income ratio Pre-qualification Inspection 98

Realty Biz

OCTOBER 4, 2022

Financing a home can be challenging, though. Rent-to-own is a contract between the homeowner and the buyer that sets aside a certain percentage of rent towards an agreed-upon home purchase price. A portion of the rent goes towards the sale of the house when the lease agreement ends. Benefits of Homeownership.

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Purchase and sale agreement Mortgages Loans Bankruptcy 69

HomeLight

JULY 31, 2020

Real estate purchases made entirely with cash are rumored to create big benefits for homebuyers. With the help of Brad Graves , a top real estate agent in San Antonio, Texas , and some recent national home purchase data, we’ll examine the pros and cons of all-cash offers. Image Source: (Shutterstock.com/Andy Dean Photography).

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Purchase and sale agreement Inspection contingency Proof of funds Finance 98

Redfin

MAY 7, 2021

Homeowners in a seller’s market face a conundrum. You can expect high prices in a competitive housing market where homes are selling in record time. Here are six options to consider when deciding on selling and buying in a seller’s market. 6 options for selling and buying in a seller’s market.

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Purchase and sale agreement Marketing Equity Loans 79

HomeLight

JANUARY 3, 2023

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Real estate transfer taxes: 0.01%.

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Purchase and sale agreement Inspection MLS Inspection contingency 110

Redfin

JANUARY 25, 2021

When you purchase a house that ends up in need of a major repair, you could take a significant financial hit. The inspection contingency can protect you from purchasing a poor property investment because it allows you to back out of the deal if a major issue is discovered. 3) Financing contingency. 4) Home sale contingency.

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Purchase and sale agreement Home sale contingency Inspection contingency Title 79

Realty Biz

JULY 19, 2022

This article might be premature because across most of the country home sales continue happening rapidly. Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. properties with a foreclosure filing. This becomes REO.

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Purchase and sale agreement Short sale Loans Inspection 102

HomeLight

JANUARY 10, 2023

The median price of a California home hit $777,500 in November 2022 , which is a 3% decrease from the previous month, a sign that higher interest rates are slowing the real estate market in California. Moreover, homes are sitting on the market for longer and inventory is increasing. Average time on market: 24 days (November 2022).

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Purchase and sale agreement Natural hazards disclosure Inspection Title 103

HomeLight

JULY 12, 2022

If you are thinking about selling your home, those low-hassle, convenient, fast-sale pitches may pique your interest. You may be curious about getting an online quote for the sale of your home. These buyers will provide an online quote to purchase your home—often sight-unseen. Like you, they thought there had to be a catch.

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Purchase and sale agreement Investor Equity Closing 96

HomeLight

AUGUST 10, 2022

Individual program details can also frequently change — please visit a company’s website for the most up-to-date information on each program’s fees, market coverage, business model, and more. HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Chicago.

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Closing costs Purchase and sale agreement Closing Staging 90

Zolo

AUGUST 13, 2020

In personal finance, quite often we consider each decision in isolation. Logically, then, wouldn’t it make sense to take out the mortgage on the rental property, use the rental income to pay down the mortgage and use the loan as a down payment (or a cash purchase) on your principal residence? Not necessarily.

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Purchase and sale agreement Principal Mortgages Loans 82

HomeLight

AUGUST 16, 2021

Plus, if you do decide to take the leap, you’ll be ready to tackle your home purchase like a pro. Research your market. There’s much to learn about your local real estate market before diving into making offers. How quickly do homes move off the market? Are you open to doing some sweat equity in the beginning?”

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Closing costs Purchase and sale agreement Inspection Loans 104

The Close

AUGUST 18, 2022

Dear [First name], Timing the real estate market to sell your home quickly and for the best price can sometimes be more art than science. The market doesn’t care when we want to sell or for how much, so many homes like yours end up unsold. This is why the system I use to sell homes doesn’t rely on timing the market. your name].

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Purchase and sale agreement Title Closing Short sale 98

HomeLight

DECEMBER 30, 2021

Taking on a mortgage is no casual agreement — which is why the loan qualification process is so stringent — but you’ll nearly always have options. Homeowners who sell their home while still holding a mortgage will pay it off with the proceeds of the sale — even if they end up taking on a new loan with the purchase of another property.

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Mortgages Principal Loans Purchase and sale agreement 96

HomeLight

JUNE 13, 2022

You need to save up money for a down payment and closing costs (which are calculated as a portion of your purchase price), but home prices just keep going up — so when you finally reach your goal, you realize that the goalposts have moved, and the hill is even taller than you thought. Let’s dive right in! Why rent to own? for an FHA loan.

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Purchase and sale agreement Loans Inspection Closing costs 113

HomeLight

DECEMBER 6, 2021

You will just need to prepare for some additional complexities, such as: Taxes: It’s not a guarantee that you’ll owe taxes, but you may have to report a “gift of equity” that exceeds a certain amount to the IRS. Financing hoops: You may face additional scrutiny from the lender if your buyer will use a mortgage for their purchase.

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Purchase and sale agreement Marketing Equity Inspection 109

HomeLight

FEBRUARY 14, 2022

It’s not terribly common to rent-to-own because most of the people who are in the rental situation are those who, for whatever reason, can’t get financing the conventional way through a bank. 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.

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Purchase and sale agreement Due diligence Finance Equity 96

Toronto Realty Blog

MARCH 4, 2024

Alright, quickly… Back in 2019, which happened to correspond with an upcoming federal election, there were rumours that the government was going to introduce a “shared-equity mortgage” as a way of helping would-be home-buyers to get into the market.

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Equity Purchase and sale agreement Mortgages Lending 85

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. Kick-out clauses are often employed when the buyers have to sell their current home first, and the sellers want to continue marketing their home in the meantime.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 106

Marco Santarelli

JUNE 25, 2021

Investing in real estate refers to any property owned solely for the purpose of generating profit, either through rental income or through market value appreciation. You will still need little money for making a down payment, when opting for financing real estate through conventional loans. Purchase Money Mortgage/Seller Financing.

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Purchase and sale agreement Hard money loan Equity Investor 133

HomeLight

MAY 3, 2023

But in focusing on the equity portion, people are often surprised to learn how much it costs to sell a house in the U.S. Selling fee Typical % of sale price Real estate agent commission 5.8% of the property sales price. Money is always top of mind when selling a house. Enter your address to get started.

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Seller concession Purchase and sale agreement Inspection Title 109