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.” In this post, we’ll explain terms like “under contract,” “sale pending,” and “active under contract” and how they might impact your home-buying journey.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 99

CT Homes

MARCH 7, 2024

A mortgage is essentially a loan from a bank or financial institution that enables you to purchase a home. The Role of Equity Equity is the portion of your home that you truly “own” — the difference between your home’s market value and the outstanding balance of your mortgage.

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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.

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Sales Purchase and sale agreement Earnest money deposit Investor 66

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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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

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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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 107

HomeLight

SEPTEMBER 13, 2022

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. AVMs use publicly available data and recent sales records to generate a value range based on the current market conditions. Sign a purchase agreement. Closing timeline.

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HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

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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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HomeLight

JANUARY 10, 2023

With such impressive sales figures, some sellers may be curious about how to sell a house by owner in California — a decision that could help them save on agent commissions. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Fast Fasts for Selling a House in California.

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Purchase and sale agreement Natural hazards disclosure Inspection Title 88

HomeLight

JULY 6, 2023

Here are 5 common contingencies in real estate contracts: Inspection contingency A buyer and their lender understandably want a home inspection to make sure they’re not investing in a lemon. Buyers also can use the findings of an inspection to negotiate for repairs or credits. What other MLS statuses do agents use?

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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 101

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. There are many people out there you might want to hire to help with a sale, but aside from a great real estate agent, a good cleaner is the most important. For-sale sign is installed in the yard.

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HomeLight

AUGUST 24, 2022

Looking to connect with a Florida cash home buyer for a quick sale in the Sunshine State? HomeLight’s Simple Sale platform provides all-cash offers, giving clients a fast, stress-free home selling experience without having to worry about additional repairs or prep work and with no additional fees, commissions, or upfront costs.

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Purchase and sale agreement Title search Proof of funds Title 103

HomeLight

OCTOBER 25, 2021

“In the right scenario, yes,” it may make sense to sell to your renter, says AJ Petterson with The Advisory Realty Group , a high performance real estate team in Minneapolis that also specializes in Townhome sales. As is advisable in any home sale, work with a top real estate agent to evaluate the strength of your renter’s offer.

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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.

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HomeLight

MARCH 23, 2023

Fortunately, with guidance from the right Realtor®, you can still close a successful home sale that allows each spouse to walk away with the maximum amount of equity. Find an Agent Experienced in Divorce Sales A great real estate agent can help you navigate the complexities of selling a home in a divorce and lighten your load.

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Purchase and sale agreement Equity Sales Agents 94

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.

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The Close

DECEMBER 29, 2022

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. ” A. .” Call option.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

JUNE 19, 2023

Tell us a little bit about your plans (where you’re looking to buy and when you want to make a purchase) and we’ll connect you with top-rated buyer’s agents in your area. LandWatch is a free online resource you can use to search for rural properties and land for sale. It takes only a few minutes, and it’s free.

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Land Proof of funds Purchase and sale agreement Title 106

HomeLight

SEPTEMBER 27, 2022

In cities with hot housing markets and real estate inventory shortages, homeowners are receiving unsolicited offers to buy their homes from investors, wholesalers, and house flippers who purchase homes at a discount and sell them for a profit to another buyer. Some charge closing costs, a minimum fee, or a percentage of the sale price.

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Broke Agent Media

MAY 16, 2023

After all, the harder it is to buy a home, the more difficult it is for buyer-sellers to move ahead with a sale. It’s also true that, while both sides do share some concerns, buyers and sellers generally approach a home purchase/sale with a different set of objectives. Source: Opendoor Across the U.S.,

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Marketing Purchase and sale agreement Construction Equity 98

HomeLight

JULY 29, 2022

Once your offer has been accepted by the seller and you have signed the purchase contract, it’s time to order an appraisal. If the seller accepts, this is when you as the buyer sign the purchase contract to solidify the details of the sale. Evaluation of the comparable sales that were used to determine value.

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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 81

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 97

HomeLight

JULY 25, 2022

JoAnn and her business partner and husband, Thomas “Tom” Jacobs, have sold real estate in Tallahassee, Florida, for more than 24 years and have completed the sale of 100% of their listings. Sellers are interested in listing their home ‘as is’ because they want a sale with an easy transaction and a lot less hassle,” says Tom.

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Redfin

JANUARY 25, 2021

1) Home inspection contingency. As the buyer you should always order a home inspection. When you purchase a house that ends up in need of a major repair, you could take a significant financial hit. When you purchase a house that ends up in need of a major repair, you could take a significant financial hit.

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Purchase and sale agreement Home sale contingency Inspection contingency Title 79

HomeLight

MARCH 31, 2022

As housing prices skyrocket, many homeowners are considering ways to turn their growing home equity into cash. If you’re one of the 6 million Americans projected to sell a home this year, you may be trying to figure out exactly how much of that increasing equity will end up in your pocket after all is said and done. Sales price.

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HomeLight

JUNE 24, 2022

First and foremost, you need to know how the divorce home is valued , and how your equity in the home will be split. Your answer could impact how the equity split from your home is calculated. You bought the home recently and haven’t had much time to build up equity. How is a home calculated in a divorce? However, while James L.

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HomeLight

APRIL 14, 2023

In this post, we’ve researched the expenses related to buying a home in California and gathered expert insights to help you understand just how much closing costs will set you back before you make the biggest purchase of your life. So if you’ve got enough equity in your home, you won’t have to worry about coming up with cash at closing.

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Closing costs Closing Purchase and sale agreement Title 88

The Close

AUGUST 9, 2022

The benefit of a 1031 exchange is that it defers the taxes that would normally be paid on the capital gains from the sale of a property. A 1031 exchange is the process where a person sells one investment property and purchases another “like-kind” property (or multiple properties) of equal or greater value than the property sold.

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HomeLight

JANUARY 28, 2022

We buy houses” companies are flippers who purchase properties “as is” for cash and renovate them, generating a profit at resale. We buy houses” operations are cash buyers or house buying companies that purchase homes directly from homeowners. There are times in life when you need cash in your bank account, not in a home’s equity.

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Purchase and sale agreement Investor Agents Sales 106

HomeLight

APRIL 5, 2022

Then, ask the agent how many sales they’ve had in the year and what their references are. We Buy Houses for Cash companies purchase properties directly from homeowners. Fix-and-flip investor: This investor purchases low-cost properties and gives them a “facelift” through repairs and renovations. Source: ( Clay Banks / Unsplash).

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Purchase and sale agreement Investor Renovation Agents 79

HomeLight

AUGUST 12, 2022

HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in California. As is” is a type of home sale where it’s understood that no improvements will be made to the property. And, of course, read the buying agreement carefully before signing.

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As-is Purchase and sale agreement Natural hazards disclosure Closing costs 96

HomeLight

NOVEMBER 29, 2021

A down payment is money that a buyer will pay at closing, usually expressed as a percentage of the home’s total purchase price. The earnest money deposit is usually considered part of the down payment and is typically put in an escrow account by a third party, such as the title company, as soon as the purchase agreement is signed.

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HomeLight

DECEMBER 10, 2021

Just how much do you stand to lose if you list your home as an as-is sale ? When selling your house as is, the buyer purchases the home with the understanding that the seller chooses not to make any repairs or improvements. Also, an as-is sale doesn’t preclude the buyer from inspecting the property. Your buyer.

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