Housing Wire

DECEMBER 8, 2023

Educate your clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Make sure your buyers understand the difference between being prequalified, preapproved and loan-committed.

Proof of funds 424

Proof of funds Inspection contingency Inspection MLS 424

HomeLight

JULY 31, 2020

To be clear, an all-cash offer means you won’t be getting a mortgage loan for any portion of the sale. This is important: if your real estate agent puts in an all-cash offer on your behalf, they will not include a financing contingency. The seller makes decisions based on the terms of your offer, including contingencies.

Purchase and sale agreement 98

Purchase and sale agreement Inspection contingency Proof of funds Finance 98

HomeLight

SEPTEMBER 9, 2020

That’s because “a buyer purchasing a home with a mortgage loan could still lose their financing, even with a solid preapproval letter. Once you’ve figured out where the money is coming from, it will be easier to take the next step: getting proof that you have the cash. Obtain proof of funds from the bank.

Inspection contingency 105

Inspection contingency Proof of funds Inspection Title 105

HomeLight

JUNE 29, 2021

Before accepting an offer, check for the following contingencies, and determine whether you find the contingencies acceptable or wish to negotiate them out of the deal. Financing contingency. Financing issues can cause closing delays up to three weeks — or worse, kill the deal entirely. Appraisal contingency.

Inspection contingency 58

Inspection contingency Proof of funds Inspection Pre-approval 58

Point2Homes

SEPTEMBER 30, 2021

Real estate transactions often feature contingency clauses that allow both parties to back out of the sale under the circumstances stipulated in the contract. One common type you’ll encounter is a sale and settlement contingency. It’s used by buyers who already have a home they’re looking to sell to finance buying another one.

Pre-approval 98

Pre-approval Proof of funds Inspection contingency Due diligence 98

HomeLight

MARCH 13, 2023

You are either replumbing the house, rewiring the house, or putting a new roof on the house prior to closing so that a financed buyer can get insurance. Joseph has encountered active military who recently purchased homes with a VA loan, but got orders to ship out only to find that their home hadn’t appreciated much in a short time.

Sales 84

Sales Investor Due diligence Renovation 84

HomeLight

OCTOBER 20, 2022

The buyer’s lender will probably require their own appraisal as part of their loan approval process. Home inspection report. Even if you did a pre-inspection, the buyer will almost certainly do a home inspection – particularly if there are any inspection contingencies in the offer or if the lender requires it.

Purchase and sale agreement 104

Purchase and sale agreement Pre-approval Inspection MLS 104