Realty Biz

FEBRUARY 11, 2023

Applying for a car title loan online can be simple and convenient, but there are certain documents you need to submit before obtaining approval. You don’t need to work a 9-5 job to apply, and people with poor credit may pass approval for funding! Without a qualifying vehicle title, you cannot obtain approval.

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RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. The fee, usually 0.3 – 1.5

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HomeLight

JULY 25, 2022

While they typically report to people on the other side of the transaction, the appraisal and inspection report generated by these professionals can impact your bottom line. In the December 2021 survey, 19% of buyers waived the inspection contract contingency, down from its height of 27% in July 2021. Request Estimate.

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Realtor.com

JANUARY 2, 2023

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

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Point2Homes

SEPTEMBER 30, 2021

The Buyer Is Not Pre-approved for a Loan. Although buyers are not required to be pre-approved for a loan in order to buy a house, expecting them to be is perfectly reasonable. As a seller, you will save valuable time when dealing with pre-approved buyers. The Buyer Is Asking for Cashback.

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Realtor.com

JANUARY 4, 2023

Inventory levels are still low, but there are more homes coming on the market; the bidding wars and mind-boggling offers over the asking price have died down; and buyers can once again insist on inspections, contingencies, and repairs before the deal closes. Those desires don’t fluctuate like mortgage rates.

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Housing Wire

FEBRUARY 8, 2022

Bill Bymel, managing director at Spurs Capital , an investment manager specializing in distressed mortgages, said that about 15% of the overall portfolio during the pandemic contained non-communicative borrowers, up 50% compared to the same pool of borrowers pre-COVID. Still, monthly foreclosures were half the pre-pandemic levels. “We

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Loans Pre-approval Mortgages Principal 349

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. – Robert Cenzer | Redfin Agent Don’t jump in and start house hunting until you have been pre-approved by your local bank or lender.

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Real Trends

DECEMBER 27, 2022

Inspection issues. An inspection can often reveal major issues that either side would not have been aware of. Whatever side you are on, being aware of inspection issues and how to work with them will be paramount in increasing your close rate. Before a mortgage is approved, lenders will have a property appraisal.

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Windemere Buying

JANUARY 3, 2022

If you’re unhappy with your pre-approval, or need more money for your desired location, there are ways you can increase your buying power. Before you move into your new home, you’ll have to pay closing costs, moving expenses, and appraisal and inspection fees, to name a few. Here are seven signs that you’re ready to buy a home.

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HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction). No problem!

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HomeLight

AUGUST 31, 2021

The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default.

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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. Apply for a pre-approval with your top choice lenders. Can you do updates?

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HomeLight

MARCH 13, 2023

Speed: One of the biggest benefits is a fast sale, as cash buyers are able to close the transaction quickly without the delays often associated with traditional home sales, such as waiting for financing approval or appraisal. Although there are no required disclosures because the property is being sold as-is, there is an inspection period.

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HomeLight

AUGUST 25, 2020

The overarching question, as you make your way down your pre-sale checklist , is likely something along the lines of: “How long is this going to take?”. Below are just some of the typical pre-listing preparations that Shapiro calls out as essential: Reduce clutter. In fact, it could even wipe out any equity you might stand to gain.

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Redfin

JUNE 21, 2023

Consider area potential and long-term equity gains Buying your first investment property doesn’t necessarily mean it will be where you reside. When considering where to purchase, you’ll want to think about a location’s potential and the possible long-term equity gains associated with the area.

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HomeLight

JANUARY 3, 2023

FSBO sellers in Colorado may consider getting a home inspection prior to listing their home for sale. However, be aware that if you get a pre-listing inspection, you will be required to share relevant findings with buyers and how you did or did not address them. Get a pre-listing appraisal. Closing date. Earnest money.

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RIS Media

MARCH 25, 2022

Another shift noticed by the brokers who participated in the roundtable is that people are not interested in homes requiring significant sweat equity. In Lehigh Valley, it takes 3-5 years to approve a subdivision, which is a significant deterrent when you can get an immediate return in the stock market.”. Get pre-approved.

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HomeLight

JUNE 17, 2022

Buyers who want to take on those projects and like your neighborhood will often appreciate the sweat equity they can invest to get their dream home. Inspection contingency : The buyer will have the power to decline if the home inspection uncovers a substantial issue that you as a seller refuse to repair.

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Windemere Buying

APRIL 11, 2022

Advocates of buying will contend that purchasing a home is an investment in equity, which can increase in value every year you live in the home, whereas if you rent a property, you’re essentially paying for someone else’s mortgage. Becoming a homeowner has its respective advantages. Ultimately, the right decision depends on your situation.

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Toronto Realty Blog

NOVEMBER 13, 2023

” Peter the Landlord prepares for closing at the end of October, and Bob the Buyer obtains his mortgage approval, provides notice to leave his rental property, begins to purchase furniture for the new condo, books a moving truck, and tackles a half-dozen other tasks that are required in order to close on the purchase, and move into the condo.

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HomeLight

JANUARY 5, 2022

“They help clients save money by representing both sides and a pre-arranged discount.”. 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. Don’t: Be lenient on the pre-approval step.

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HomeLight

MAY 31, 2021

If you’re buying a fixer-upper and you know you’ll need money to do improvements and repairs, then making a lower down payment means you can do those repairs out-of-pocket and build equity. Basically, buying points provides you with the opportunity to “buy down” your interest rate by pre-paying some of the interest.

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HomeLight

OCTOBER 5, 2020

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. You can also help yourself by doing the inspection upfront, knowing the seller likely won’t get any repairs done. There is a process you must follow to get pre-approved for a mortgage.

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HomeLight

OCTOBER 9, 2023

If you are approved for up to $450,000, I recommend shopping for homes between $350,000 and $425,000,” says Wordelman. “In You don’t get to ask for more once you sign off on the inspection, so be clear on what you expect.” I see so many offers come across my desk without pre-qualification letters,” he says. “A

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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

MARCH 13, 2023

Airbnb owners get tired of paying management fees and dealing with customer complaints and negative ratings, but they have too little equity to sell the traditional way. More certainty: With a pre-offer walk-through, a cash home buyer can generally provide a firm cash offer that comes with few contingencies, or no contingencies at all.

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HomeLight

JULY 25, 2022

Though the inspection fees and other closing costs will have been paid for by now, remember that your shiny new mortgage comes with a regular monthly payment. Ideally, saving room in your budget to ensure you can make the first several mortgage payments without worry should be part of your pre-purchase gameplan. Technically, sure.

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HomeLight

MARCH 30, 2021

If not, some language in the listing might provide clues that they are in fact short sales, such as “subject to bank approval,” “notice of default,” or “headed for auction.”. The seller may approve your offer , but the seller’s lender has to sign off on the deal, too — which means you’ll need that lender’s approval.

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HomeLight

MAY 24, 2022

Or the idea of cashing out the equity on your two-story home and downsizing to a single-level house sounds appealing. By waiting, you risk increasing interest rates that limit the number of qualified buyers as well as the size mortgage that lenders will approve. Read on for the reasons why 2022 might be the year to make your move.

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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. An appraisal is not equivalent to or a substitute for a home inspection , which is a nuts-and-bolts analysis of a home’s construction and its systems.

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Loans Pre-approval Agents Inspection 101

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.

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HomeLight

SEPTEMBER 16, 2021

Pass the home inspection. For example, some investors will purchase the home “as is” but still require an inspection; some will offer to waive the inspection entirely , though it may mean accepting a reduced price to hedge the investor’s risk of finding major issues with the property. Complete the home inspection.

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HomeLight

AUGUST 31, 2021

Does the idea of buying a fixer-upper and quickly gaining thousands of dollars in equity by making minor cosmetic repairs appeal to you? A 203(k) loan can be an excellent way to gain large amounts of equity soon after buying the home. And that difference of $25,000 is equity in the home that now belongs to the new buyer.

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Redfin

JULY 10, 2023

Building equity Firstly, homeownership provides long-term stability and the opportunity to build equity. Cash offers and pre-approved financing: Buyers who can make cash offers or have pre-approved financing may have an advantage over others.

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HomeLight

AUGUST 12, 2022

“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.”. However, “If sellers have plenty of equity and they just want to be done with the property and sell ‘as is,’” she says, “then they’re going to need to be more aggressive on lowering the price.”.

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HomeLight

DECEMBER 10, 2021

Also, an as-is sale doesn’t preclude the buyer from inspecting the property. Whether you sell as is or not, the buyer has the right to inspect the home (within the terms of the purchase agreement ) for potential defects. That’s why Batterman recommends a seller pre-inspection.

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