HomeLight

OCTOBER 11, 2021

Normally, when someone puts their house up for sale, they have some equity in the property and will walk away with money in their pocket after closing. The seller has enough equity in the home to cover the existing mortgage, and their lender isn’t involved in the sale, aside from providing loan payoff amounts at closing.

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HomeLight

JULY 12, 2022

Get cash fast: Unexpected expenses that pile up due to job loss, hospitalization, or even inflation might cause you to consider how to quickly convert your equity to cash , so you can relieve debt. Because they can close in as little as 10 days, online quote companies may be the solution to help protect your hard-earned equity.

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Purchase and sale agreement Investor Equity Closing 83

HomeLight

AUGUST 31, 2021

You’re reading through a new MLS listing, and you believe you found your ideal home. Short sales can typically be found through the MLS database or your buyer’s agent. This is different than a short sale because a pre-foreclosure seller usually still has equity in the house (meaning the home value is more than their mortgage balance).

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HomeLight

SEPTEMBER 1, 2020

If your offer is accepted, you start the process of inspections, title checks, and negotiations while securing a mortgage loan and signing the papers when it’s all said and done. Ask your agent to find you bank-owned or REO homes on the MLS (multiple listing service) that meet your specifications. Step 9: Order an inspection.

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HomeLight

SEPTEMBER 30, 2021

A mortgage is more likely to become underwater if a seller falls behind on mortgage payments, sells before they’ve gained much equity, or sells during a market downturn. It will help you estimate how much equity you’re going to receive if you do sell it for a particular number.”. Source: (Lukasz Radziejewski / Unsplash).

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HomeLight

JULY 31, 2020

They know the market well, are regularly in touch with lenders, and can help you navigate the MLS system to find what you’re looking for. Don’t skip the home inspection. For example, she says, “Don’t spend the money on inspections until you know what the bank’s gonna do with the offer.”.

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HomeLight

NOVEMBER 14, 2022

Redfin updates its MLS listings every five minutes, unlike other services that can take several hours to days to pull in new listings. With multiple people to field phone calls and arrange requested repairs after a home inspection, the process of selling could go smoother. It takes just two minutes to match clients with top agents.

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Redfin

JUNE 28, 2022

If you haven’t built adequate equity in your home, it may not make financial sense to sell. You can estimate your equity by subtracting what you owe on your home loan from the potential sales price. A listing description accompanies your house’s photos and spec sheet on the MLS which then can be seen on real estate websites.

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HomeLight

JANUARY 22, 2024

There are several reasons, which can range from a sudden change in circumstances, to the seller needing to access the equity in their home without making repairs. “It’s MLS has a field to mark a listing “as is”? So, the appraisal is a second inspection that is done on the property,” he says. “So,

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HomeLight

SEPTEMBER 20, 2022

“People had done 100% financing on their homes,” says Jessica Wallace , a top-selling agent based in the Santa Cruz, California area, so they had zero equity when “the market dropped 10%.”. More recently, however, the hot market of 2021-2022 saw homeowners with mortgages increase the equity in their homes by 27.8%

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HomeLight

JULY 25, 2022

Frequently, the inspection serves as the buyers’ safety net. “If If the inspection shows some damage that nobody was aware of,” Tom explains, “it usually results in renegotiation of the deal — either the price or the repair gets fixed.”. MLS has field to mark a listing “as is”? Consider a pre-listing inspection.

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HomeLight

OCTOBER 9, 2023

Tip 7: Shop on the edge of your location boundaries While an agent should create a fairly exhaustive search for prospective buyers, Wordelman says that one thing they sometimes overlook is opening up searches to MLS systems that might be right on the edge of where you want to buy. “If

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HomeLight

AUGUST 24, 2022

MLS has field to mark a listing “as is”? Buyers are still going to do their inspection, they’re going to do their own due diligence and they are going to be paying their inspector. Consider a pre-listing inspection. Instead, the agent will write ‘as is’ in the MLS remarks section. Disclosures. Todd Auslander.

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As-is Inspection Investor Closing costs 97

HomeLight

FEBRUARY 10, 2022

According to a 2020 report from the Federal Reserve , the average US homeowners’ equity in their primary residence accounted for over 52% of their total net worth. Desktop appraisals are similar to full appraisals in every way except that the appraiser doesn’t physically visit and inspect the property. Sandi Bates. Real Estate Agent.

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HomeLight

JANUARY 19, 2023

An inspection might cost a few hundred dollars, but a $400 inspection can keep you away from a $10,000 or $20,000 problem,” he says. Once you win your bid on the appropriate home, it’s absolutely crucial that you get a home inspection and an appraisal. Rent or sell Once the work is done, flippers have a choice.

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HomeLight

JULY 29, 2022

Appraisers use local multiple listing services (MLS) to evaluate this, among other resources. Once the lender orders the appraisal and the assignment has been accepted, the appraiser will reach out to either the seller’s agent or the seller directly to schedule a time to inspect the property in person. If appraisal comes in high.

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Purchase and sale agreement Earnest money deposit Inspection Loans 84

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? A lot of times, sellers are trying to remove some future liability by listing their house ‘as is,’ but buyers do, of course, still have the opportunity to inspect it and ask for any repairs or a price reduction,” Rynders says. “So Consider a pre-listing inspection. Disclosures.

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As-is Inspection Investor Closing costs 107

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.

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Purchase and sale agreement MLS Pre-approval Agents 77

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 Oregon real estate market and a steep rise in equity added extra incentive to maximize profits.

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MLS Agents Sales Inspection 83

HomeLight

DECEMBER 8, 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 Washington State real estate market and a steep rise in equity added extra incentive to maximize profits.

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HomeLight

AUGUST 12, 2022

MLS has field to mark a listing “as is”? If owners want to sell ‘as is’ and don’t have a lot of equity in their house,” she explains, “it’s hard to take a discount.”. As far as marketing, Bullington maximizes the power of the public and private remarks fields in the multiple listing service (MLS). Disclosures.

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As-is Purchase and sale agreement Investor Closing costs 93

HomeLight

NOVEMBER 21, 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 South Carolina real estate market and a steep rise in equity added extra incentive to maximize profits.

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Purchase and sale agreement MLS Pre-approval Agents 76

HomeLight

SEPTEMBER 30, 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 Wisconsin real estate market and a steep rise in equity added extra incentive to maximize profits.

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Purchase and sale agreement MLS Agents Inspection 79

HomeLight

NOVEMBER 21, 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 Louisiana real estate market and a steep rise in equity added extra incentive to maximize profits.

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HomeLight

APRIL 29, 2022

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. MLS has field to mark a listing “as is”? Not in Northwest MLS, the largest MLS in the region ; agents instead will include “as is” in the property notes. Disclosures.

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As-is Purchase and sale agreement Investor Inspection 70

HomeLight

FEBRUARY 9, 2023

Find a home to flip Once you’ve got an agent keeping an eye out for you, alerts set up on real estate websites, and are scouring the multiple listing service (MLS), it’s time to find a home to flip. Once you win your bid, it’s absolutely crucial that you get a home inspection and an appraisal. Be patient! “I

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House Flipping Hard money loan Finance Investor 85

HomeLight

OCTOBER 11, 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 Michigan real estate market and a steep rise in equity added extra incentive to maximize profits.

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Purchase and sale agreement MLS Agents Sales 86

HomeLight

OCTOBER 30, 2020

Day 1: Estimate your home equity. First, determine where you stand on your mortgage by calculating your home equity — the current value of your home minus what you owe on your loan. Then, calculate your home equity by subtracting your outstanding mortgage balance from your estimated home value.

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Staging Agents Equity Inspection 77

HomeLight

SEPTEMBER 10, 2022

It’s common for buyers to use the equity in their current house to help finance the next one, so home sale contingencies are not unusual when the market isn’t red hot. An inspection contingency. The inspection contingency allows the buyer to bring in an expert to check the home over for unseen problems before finalizing the contract.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 95

HomeLight

NOVEMBER 10, 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 Chicago real estate market and a steep rise in equity added extra incentive to maximize profits.

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Purchase and sale agreement MLS Agents Pre-approval 85

HomeLight

OCTOBER 5, 2020

You can also help yourself by doing the inspection upfront, knowing the seller likely won’t get any repairs done. If you’re not securing an FHA loan, many conventional lenders will allow a 3% to 5% down payment, but you’ll need a good credit score and will have to pay mortgage insurance on the loan until you reach 20% equity.

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HomeLight

MARCH 31, 2022

Call a reputable local home inspector for an optional pre-listing home inspection to get ahead of any issues or necessary repairs. Not gonna lie, getting a house ready for sale can take a boat load of sweat equity, but you want to get the highest price, right? Review drafts of the MLS listing provided by your agent for accuracy.

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Purchase and sale agreement Title Inspection Agents 120

HomeLight

OCTOBER 12, 2022

in the past year, you’ve decided to cash out the equity in your suburban Salt Lake City home. However, as the seller, you must also disclose known defects adversely affecting the property’s use and value that a buyer could not discover by a reasonable inspection, according to a ruling by Utah’s Supreme Court. “In Home systems.

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HomeLight

FEBRUARY 27, 2023

You might also need an appraisal if you want to refinance to get a better interest rate or cash out some equity. In order to determine your home’s worth, an appraiser conducts a walk-through inspection of the home and then examines the sale prices of comparable homes in your area. So, what is the cost of a home appraisal in Indiana?

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Equity Agents VA loan Construction 83

HomeLight

APRIL 13, 2023

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 previously hot Kansas real estate market and a steep rise in equity added extra incentives to maximize profits.

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MLS Agents Sales Mortgage pre-approval letter 85

HomeLight

AUGUST 24, 2022

There are plenty of reasons to have a real estate agent in your corner — visibility in the MLS , help with stagings and showings, assistance with negotiations and contracts, to name just a few — and now you can add sourcing a cash buyer to the list. Our network of experts shared some insider tips. Property investors.

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HomeLight

MARCH 30, 2021

Short sales are generally available directly through the MLS. Get an inspection. That said, you want to know what you’re getting into even if you can’t ask the seller to fix it — so definitely get a home inspection. Many brokerages provide lists of short sales for interested buyers, so ask your agent to provide it.

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Short sale Sales Pre-approval Closing costs 60