Housing Wire

JULY 14, 2022

Most of these reverted REOs are eventually sold via the Multiple Listing Service (MLS). The data paints a similar picture specifically for foreclosed properties backed by FHA-insured loans, the subject of the recently announced first-look program. The role of renovators.

Renovation 370

Renovation MLS Investor Loans 370

HomeLight

JUNE 29, 2022

Once upon a time, the only place you could find property data was the MLS (multiple listing service) , a series of private databases real estate professionals use to share listing information among one another and broker deals. And they’re also concerned about a mortgage lender’s appraisal. Who else uses real estate comps?

MLS 109

MLS Seller concession Agents Sales 109

HomeLight

SEPTEMBER 30, 2020

The Federal Housing Administration (FHA) is part of HUD’s Office of Housing, and it guarantees certain mortgage loans for lenders by providing mortgage insurance on loans for borrowers who may not qualify for a conventional mortgage ; the lenders in turn provide those mortgages to homebuyers.

Earnest money deposit 82

Earnest money deposit FHA loan Pre-approval Finance 82

HomeLight

JANUARY 29, 2021

Mandatory costs include a long list of fees and taxes from involved parties such as the local and state government and mortgage lenders. Reconveyance fees : Once your mortgage is paid off, you’ll have to obtain a reconveyance deed to prove it — typical fees for this range from $50 to $65. Mortgage pay off. MLS listing fee.

Closing costs 98

Closing costs Closing Seller concession Title search 98

HomeLight

OCTOBER 27, 2021

A home is in preforeclosure when the owner has stopped making mortgage payments for several months and their loan is delinquent or in default — so the owner is approaching foreclosure. In fact, the homeowner might even have a plan to catch up on the mortgage, and in the end, the home won’t end up in any kind of sale.).

Purchase and sale agreement 91

Purchase and sale agreement Inspection Homeowner’s association Title 91

HomeLight

DECEMBER 29, 2023

MLS has a field to mark a listing “as is”? Brickle says that types of homeowners looking to sell “as is” are most commonly people just in over their heads —- due to a combination of the house needing repairs or being behind on mortgage payments with the threat of foreclosure looming. Yes Is a real estate attorney required?

As-is 96

As-is Inspection Finance Investor 96

HomeLight

OCTOBER 5, 2020

A short sale is when a property is sold at less than what’s owed on the remaining mortgage balance. This type of situation usually occurs when the owner is financially distressed and no longer able to make their monthly mortgage payments. You’ll need to get preapproved for a mortgage loan. What’s a short sale?

Short sale 81

Short sale Sales Pre-approval Pre-qualification 81

HomeLight

APRIL 11, 2024

MLS has a field to mark a listing “as is”? Be aware of minimum property standards for certain loans When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan.

As-is 94

As-is Inspection Finance Investor 94

Easy Agent Pro

JANUARY 31, 2022

If that doesn’t work, drastic measures might, such as showing them (during the consultation) a stack of MLS listings of homes they can afford. . But delusions about how far their FHA loan (with a 580-credit score) will take them aren’t the only misconceptions and expectations they have. Reach out to them.

FHA loan 103

FHA loan Agents MLS Loans 103

HomeLight

JANUARY 22, 2024

MLS has a field to mark a listing “as is”? Be aware of minimum property standards for certain loans When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. Yes Is a real estate attorney required? Real estate transfer taxes?

As-is 100

As-is Inspection Finance Investor 100

HomeLight

DECEMBER 2, 2021

If you’re “upside-down” in your mortgage (owing more than the property is worth), you have a few options. If you sell your house for less than you still owe on it, you may still remain responsible for making up the deficiency — the difference between the sales price and the outstanding mortgage balance. One of them is a short sale.

Short sale 86

Short sale Sales Loans Banks 86

HomeLight

FEBRUARY 21, 2023

MLS has field to mark a listing “as is”? My MLS and most MLS systems have an as-is designation allowing search on that term”, says Ailion. These are standards related to the overall condition of a property which will play a role in the willingness and/or ability of a lender to finance a buyer’s loan.

As-is 79

As-is Investor Inspection Closing costs 79

HomeLight

DECEMBER 29, 2023

Be aware of minimum property standards for certain loans When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. If your house complies with FHA, then it complies with most other lenders’ requirements.

As-is 92

As-is Inspection Finance Investor 92

HomeLight

NOVEMBER 10, 2021

A mortgage is a 15- to 30-year commitment, unless you sell or refinance. For example, a 1% difference in your mortgage rate could bump your monthly payment up around $100 a month, costing you $30,000 over the life of a 30-year mortgage. Step 4: Get preapproved for a mortgage. Or that FHA loan limits vary widely, too?

Inspection 91

Inspection Title Agents Pre-approval 91

HomeLight

DECEMBER 29, 2023

MLS has a field to mark a listing “as is”? Be aware of minimum property standards for certain loans When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan.

As-is 95

As-is Inspection Finance Investor 95

HomeLight

AUGUST 23, 2022

MLS has field to mark a listing “as is”? The MLS in Columbus, Ohio, doesn’t have a specific ‘as is’ checkbox or label for agents to mark, according to Lynn. When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer prequalified for a home loan. . $281,176 (June 2022).

As-is 99

As-is Investor Closing costs Inspection 99

HomeLight

FEBRUARY 27, 2023

Here are some factors that can influence the cost of a home appraisal in Indiana: Urban vs rural Urban properties tend to be smaller and have more information readily available in the local MLS, which makes them faster and thus cheaper to appraise. Proximity and size of the house are the two most important factors.”

Equity 87

Equity Agents VA loan Construction 87

HomeLight

MARCH 2, 2023

Here are some factors that can influence the cost of a home appraisal in Georgia: Urban vs. rural Urban properties tend to be smaller and have more information readily available in the local MLS, which makes them faster and thus cheaper to appraise. Why is a home appraisal needed? Lenders want reassurance that the buyer isn’t over-borrowing.

FHA loan 76

FHA loan Agents Loans Sales 76

HomeLight

AUGUST 24, 2022

MLS has field to mark a listing “as is”? Instead, the agent will write ‘as is’ in the MLS remarks section. When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. Average days on market for Connecticut. Disclosures.

As-is 101

As-is Inspection Investor Closing costs 101

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? In North Carolina, there isn’t a specific “as is” checkbox they can use when listing a home on the multiple listing service (MLS), so they have to include it in the Remarks 1 and Remarks 2 fields. Disclosures. Is a real estate attorney required? Real estate transfer taxes?

As-is 88

As-is Purchase and sale agreement VA loan Inspection 88

HomeLight

DECEMBER 23, 2021

For example, FHA loans typically won’t allow buyers to purchase properties with unpermitted converted garages or outdated electrical panels. Mortgage restrictions – Many lenders won’t issue a mortgage for a property with code violations – or liens. . This could become a negotiating point with the buyer. Water heater.

Inspection 107

Inspection Title Renovation Agents 107

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? Sellers have had people come in and give them quotes on repairing the damage, and then will attach those quotes to the MLS ( multiple listing service ) so the agent can share them with the client. If your house complies with FHA, then it complies with most other lenders’ requirements.

As-is 101

As-is Purchase and sale agreement Inspection Closing costs 101

HomeLight

APRIL 29, 2022

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. Because the MLS limits how many photos he can post, Graham says he’ll provide a Dropbox link to additional pictures for interested buyers. Disclosures.

As-is 73

As-is Purchase and sale agreement Investor Inspection 73

HomeLight

AUGUST 12, 2022

MLS has field to mark a listing “as is”? Bullington’s approach to as-is sales is largely informed by her client’s mortgage status. “If As far as marketing, Bullington maximizes the power of the public and private remarks fields in the multiple listing service (MLS). Disclosures. Is a real estate attorney required?

As-is 97

As-is Purchase and sale agreement Investor Closing costs 97

HomeLight

MAY 19, 2022

MLS has field to mark a listing “as is”? When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. If you’re unsure whether your home will meet appraisal requirements, you can start by taking a look at the FHA minimum property standards.

As-is 104

As-is Inspection Investor Closing costs 104

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? In Wisconsin, there is no specific as-is checkbox or label for agents to mark on the multiple listing service (MLS), so that information will need to be included in the listing. If your house complies with FHA, then it complies with most other lenders’ requirements. Disclosures.

As-is 110

As-is Inspection Investor Closing costs 110

HomeLight

DECEMBER 23, 2021

Lenders require appraisals when you take out a mortgage or refinance a home. In the case of a refinance or mortgage loan, the lender will hire an appraisal through appraisal management companies. When you purchase a home with a mortgage or go through a refinance, the lender will require an appraisal. Home purchase.

Loans 101

Loans VA loan FHA loan Agents 101

Realty Biz

FEBRUARY 21, 2021

Miami-Dade County total home sales posted a double-digit increase for the fifth consecutive month in January 2021 as pent-up demand and record-low mortgage rates continue fueling transactions, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system. Condo dollar volume increased 69.4%

Sales 91

Sales Short sale FHA loan Fixed-rate mortgage 91

Housing Wire

NOVEMBER 15, 2023

Would love for our MLS to not be a part of the organization. We’ve explored how mortgage LOs might be affected , how MLSs might evolve in a world without cooperative compensation and assessed NAR’s ability to fight the verdict. The most popular responses were lobbying and MLS access, which many respondents described as critical.

Purchase and sale agreement 433

Purchase and sale agreement MLS Agents FHA loan 433

HomeLight

JULY 25, 2022

MLS has field to mark a listing “as is”? When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. If you’re unsure whether your home will meet appraisal requirements, you can start by taking a look at the FHA minimum property standards.

As-is 100

As-is Purchase and sale agreement Inspection Investor 100

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. If you’re unsure whether your home will meet appraisal requirements, you can start by taking a look at the FHA minimum property standards.

As-is 96

As-is Inspection Investor Sales 96

HomeLight

JULY 25, 2022

MLS has field to mark a listing “as is”? Mortgage tax: $0.35/$100 The state nonrecurring intangible tax rate is $2/$1000. When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. Median sales price in Florida. Disclosures.

As-is 91

As-is Purchase and sale agreement Inspection Closing costs 91

HomeLight

AUGUST 12, 2022

MLS has field to mark a listing “as is”? When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. If you’re unsure whether your home will meet appraisal requirements, you can start by taking a look at the FHA minimum property standards.

As-is 101

As-is Purchase and sale agreement Natural hazards disclosure Closing costs 101

The Close

AUGUST 23, 2023

Interview With a Mortgage Broker If you have a lot of potential first-time buyers on your list, an interview with a mortgage broker is a great way to educate them, and hopefully give you fewer questions to answer if they eventually become leads! You can define common terms like an FHA loan, or more obscure ones like a 1031 exchange.

Design 94

Design FHA loan Marketing Agents 94