Toronto Realty Blog

MARCH 28, 2024

Those who know me – at least, through TRB, are fully aware of my thoughts on pre-construction condos, the pre-construction condo industry, and the way that pre-construction condos are sold and eventually built. Your “Buying Pre-Construction Condos and CAKE! Time flies when you’re having fun, right?

Pre-qualification 74

Pre-qualification Marketing Construction Development 74

RIS Media

SEPTEMBER 21, 2020

Contingencies : Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. percent of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20 percent equity. The fee, usually 0.3 – 1.5

Pre-approval 64

Pre-approval Pre-qualification Title search Inspection 64

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Buyers should arrange financing with a bank or mortgage lender ahead of time. Qualifying for a HUD home.

Pre-approval 92

Pre-approval Pre-qualification FHA loan Inspection 92

HomeLight

AUGUST 16, 2021

Most REOs are sold on the MLS,” explains Todd Miller, who worked in mortgage banking for over a decade, has purchased several REO homes, and now runs the personal finance website TightwadTodd.com. Go to your county’s office and ask for the pre-foreclosure list ,” he says. Reach out to people on the list, and give them an offer!”.

Banks 104

Banks Pre-qualification Investor Short sale 104

HomeLight

JULY 30, 2021

The seller can determine the terms of the option, which may or may not include a pre-set purchase price for the home. A mortgage lender will still want buyers to meet all the standard qualification requirements, including adequate credit, employment, and debt-to-income ratio. Lease-purchase agreements. The downsides of renting-to-own.

Purchase and sale agreement 98

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

Redfin

JULY 30, 2021

Additionally, there’s more certainty when you sell your house for cash , as you don’t have to worry about a buyer’s financing falling through. . For those buying and selling at the same time, this can be especially helpful if you’re trying to avoid a second mortgage or gap financing. What are the costs of selling a home to an iBuyer?

Pre-qualification 62

Pre-qualification Closing costs Equity Sales 62

HomeLight

DECEMBER 8, 2023

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. Think of it as a temporary loan that taps into the equity of your existing home.

Equity 94

Equity Loans Debt-to-income ratio Home sale contingency 94

HomeLight

AUGUST 16, 2021

Are you open to doing some sweat equity in the beginning?” Painting walls and replacing floors can add instant equity to your home — but these jobs require hard work, and they’re not for the buyer who wants a flawless, move-in ready abode. Buyers with strong credit and qualifications. Can you do updates? she prompts.

Closing costs 104

Closing costs Purchase and sale agreement Inspection Loans 104

HomeLight

MAY 31, 2021

Moskowitz says that sometimes a large down payment isn’t necessarily the way to go when it comes to financing your home loan. “If The minimum down payment can be as low as 3%, but that is contingent on the buyer’s qualifications. The VA backs a portion of the loan against default, which makes banks more willing to finance.

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

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. Experts are, as with seemingly every topic related to personal finance, divided on their stance about early mortgage payoff. You’ll own 100% equity in your home.

Mortgages 83

Mortgages Principal Loans Purchase and sale agreement 83

HomeLight

OCTOBER 9, 2023

4 expert financing and closing tips Tip 17: Get preapproved for a loan McKinney says that no matter how qualified you think you are, making sure you have your preapproval letter is very important. “I I see so many offers come across my desk without pre-qualification letters,” he says. “A

Pre-qualification 91

Pre-qualification Pre-approval Agents Loans 91

HomeLight

JANUARY 4, 2022

According to a Q3 2021 study by ATTOM Data Solutions, all-cash home sales are at their highest level since the first quarter of 2015, with 34% of all single-family homes and condos purchased without financing. “In Buyers who re-invested their equity. Who’s paying cash for houses? Out-of-state buyers.

Investor 98

Investor Finance Inspection Sales 98

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.

Purchase and sale agreement 107

Purchase and sale agreement Marketing Equity Inspection 107

HomeLight

OCTOBER 5, 2020

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. There is a process you must follow to get pre-approved for a mortgage. And it’s even better if you can get pre-underwritten. Let’s take a more in-depth look at these requirements.

Short sale 75

Short sale Sales Pre-approval Pre-qualification 75

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. He explains that owning a house is the most constructive and easiest way to build wealth, and even if you pay more now, you are still building equity, and will likely enjoy significant tax benefits.

Closing 86

Closing Earnest money deposit Sales Title 86

HomeLight

APRIL 30, 2022

Beyond standard MLS listings, home search apps can offer a deep dive into data to help you research, bid, buy, finance, insure, and even renovate your new home. Type in your address on the site to estimate your home’s value, track equity, calculate potential home sale profit, and view local market trends. Mortgage portals.

Closing 85

Closing MLS Pre-qualification Due diligence 85

HomeLight

APRIL 11, 2022

A property’s appraised value also indicates how much you’ll pay in real estate taxes — and gives you an idea of how any improvements you make can add to your home’s equity. If you have enough equity in the house, a lender may also waive the appraisal. Objective and impartial. Know what features impact home value.

Loans 101

Loans Pre-approval Agents Inspection 101

Housing Wire

MARCH 22, 2024

Before meeting with a mortgage lender, buyers should have a clear picture of their finances. Get pre-approved with a local lender. Yes, many buyers will hop online and get a generic pre-approval letter. Yet they’ll be unable to because they aren’t pre-approved for that amount. Meet with a financial advisor.

Agents 392

Agents Pre-approval Pre-qualification Inspection 392

HomeLight

DECEMBER 6, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot New Jersey real estate market and a steep rise in equity added extra incentive to maximize profits.

Purchase and sale agreement 76

Purchase and sale agreement MLS Pre-approval Agents 76

The Close

DECEMBER 29, 2022

It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. A short-term loan that covers the cost to build a property until the owner can secure long-term financing. Your equity will increase as you pay down the loan and as your property value increases.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97