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Understanding Mortgage Terms for Home Buyers

Realty Biz

Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. In a mortgage agreement, the buyer borrows money from the lender (usually a bank) and agrees to pay it back with interest over a specified period. These can include title search fees, appraisal fees, attorney fees, and more.

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How Rent-To-Own Homes Work: A Complete Guide

Redfin

Simply put, a rent-to-own home is a residential property that you agree to live in as a rental for a set number of years with the option to purchase the house at the end of the rental term. With most rent-to-own agreements, the renter pays an additional monthly payment that goes toward the down payment. Purchase price agreement.

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7 of the Top We Buy Houses for Cash Companies in Chicago

HomeLight

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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How to Sell a House to a Friend So No One Feels Cheated: 11 Do’s and Don’ts

HomeLight

Now you can skip the part where you stage, show, and market the house, which makes you want to do a little happy dance. An agent won’t need to offer their full level of service to include yard signs, digital marketing, and professional photography, but they can act as a neutral go-between to prevent strain or awkwardness during negotiations.

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Are Rent to Own Homes Even Real? Here Are Stories From 5 People Who’ve Done It

HomeLight

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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Selling to Florida Cash Home Buyers: Tips from Experts

HomeLight

Looking to connect with a Florida cash home buyer for a quick sale in the Sunshine State? The destination’s great weather and tax-friendliness bring a steady stream of buyers to the market, and cash buyers help make sellers’ homes fly. A cash offer can lead to a speedier and lower hassle sale. How to find cash buyers in Florida.

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7 Steps To Selling A House To A Family Member

HomeLight

Selling a house to a family member is typically a much quicker and simpler process than selling on the open market. There are several ways to receive an estimate of your home’s current market value. The traditional methods are to get an appraisal or have a real estate agent conduct a comparative market analysis (CMA).