CT Homes

JULY 6, 2020

In this post, we’ll cover the main contingencies lender-financed offers typically have, and what the main drawbacks of such offers are. The most common contingency issue when dealing with “financed” buyers is getting final mortgage approval with the buyer’s lender. Financing Obstacles. Inspections.

Finance 110

Finance Inspection Title search Loans 110

Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? Appraisals are required for homes financed with any type of mortgage. The appraiser inspects the property An appraiser visits the property and conducts a visual inspection of the home’s condition. Not necessarily.

Agents 450

Agents Inspection Sales Commercial 450

Hank Miller Team

OCTOBER 4, 2022

Due diligence periods are back and with them, the main contingencies of appraisal, finance, and inspection. It’s reasonable to say that everyone needs to get reacquainted with home inspection hysteria and the rule of making mountains out of moles hills. The Imperfect Home Inspection No home is perfect, ever.

Inspection 52

Inspection Due diligence Finance As-is 52

Housing Wire

DECEMBER 11, 2020

Earlier this year, citing the extraordinary circumstances that the country is facing with the ongoing spread of the coronavirus, the Federal Housing Finance Agency directed the government-sponsored enterprises to ease their standards for both property appraisals and verification of employment. Are borrower-assisted inspections here to stay?

Lending 540

Lending Inspection Mortgages Finance 540

Realty Biz

SEPTEMBER 18, 2021

You should instinctively have a good idea of the property value after a brief inspection. Hard money lenders can’t physically inspect the property themselves nor do they have a solid knowledge of local property values. If you have established a relationship with a hard money lender, loans can be financed in a matter of hours.

Hard money loan 132

Hard money loan Finance Loans Investor 132

Housing Wire

NOVEMBER 30, 2023

Also, in the limited program, the FHA proposes that consultant fees be included in the financed mortgage, as it is permissible in the standard version. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375. In high-cost areas, however, it can go up to $75,000.

Inspection 450

Inspection Finance Renovation Loans 450

Housing Wire

JANUARY 3, 2024

Don’t talk about how busy you are, about a deal you’re trying to save, inspection and financing drama, or how you’re going to be out of town for two weeks. Don’t make the appointment all about you Always make it all about the client: their needs, motivation, time frame and priorities.

Inspection 440

Inspection Finance Closing Sales 440

RIS Media

AUGUST 30, 2021

Routine roof inspections can prevent this type of scenario. You should have your roof inspected once a year, plus after a major storm or any time you suspect there may be a problem. Regular Inspections Can Detect Problems Before They Get Worse. Routine Inspections Can Help If You Need to File an Insurance Claim.

Inspection 98

Inspection Finance As-is 98

Realtor.com

FEBRUARY 5, 2021

But before the sale is closed, you will need to clear several hurdles, one of which may be a termite inspection. While only a few states require it—and there is no federal law that mandates a termite inspection when buying a home—you might want to think twice before skipping it. Your lender may require it.

Inspection 122

Inspection Loans Development Lending 122

Lighter Side of Real Estate

AUGUST 24, 2022

It’s an industry joke that some buyers request the seller to repair even the most minor issue found on a home inspection, like a leaky faucet for example. Even if the buyers did have an inspection, sellers could easily reply with a firm no, and the buyers would be fine with it. Are they all due to home inspection issues?

Inspection 96

Inspection Equity Finance As-is 96

HomeLight

OCTOBER 30, 2020

Selling a house “as is” without inspection is the definition of driving a hard bargain. As for whether you can sell a house as is without inspection — the answer is yes, it’s possible and does happen. Why ‘as is’ doesn’t always mean no inspection. However, a buyer could still include an inspection contingency in the contract.

Inspection 105

Inspection As-is Inspection contingency Investor 105

Keller Williams

AUGUST 17, 2022

Now is still a great time to get home financing.”. To help real estate professionals connect their clients to the financing they need, Keller Mortgage has an army of knowledgeable professionals excited to assist in all kinds of transactions. “As Jumbo Loans for Big Spenders.

Finance 90

Finance Pre-approval Loan Officer Mortgages 90

Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

Lending 485

Lending Inspection Loans Finance 485

Housing Wire

JULY 6, 2023

Fannie Mae’s guidance comes as an update to its Selling Guide in consultation with the Federal Housing Finance Agency (FHFA). The update will prohibit the sale of condo units or co-op shares in projects with unfunded repairs totaling more than $10,000 per unit.

Inspection 370

Inspection Finance Sales As-is 370

Housing Wire

JUNE 22, 2023

In the letter , addressed to FHFA Director Sandra Thompson , the associations ask for “reasonable” building inspection requirements for aging infrastructure. The groups also offer feedback on how the Fannie Mae and Freddie Mac temporary requirements for condos and cooperative projects could be improved.

Lending 370

Lending Inspection Development Loans 370

Housing Wire

MARCH 22, 2021

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021.

Inspection contingency 545

Inspection contingency Inspection Sales Mortgages 545

HomeLight

JANUARY 31, 2024

Contingencies are designed to protect both parties involved, allowing the buyer to back out of the purchase without penalty under specific circumstances, such as issues discovered during a home inspection or difficulties obtaining financing. The most extended periods typically relate to mortgage and home sale contingencies.

Purchase and sale agreement 110

Purchase and sale agreement Inspection contingency Home sale contingency Inspection 110

Housing Wire

JUNE 23, 2022

In order to continue protecting the healthy functioning of the housing finance market as the impact of COVID-19 lingers, issuers still need these prudent flexibilities to help manage persistent operational challenges,” said Alanna McCargo, president of Ginnie Mae, in a statement. 30, 2022.

Inspection 421

Inspection Finance Development Loans 421

HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. Among the various types of contingencies, two stand out in most home purchase agreements: home inspection and financing. As a buyer, a home inspection contingency offers you a layer of protection.

Earnest money deposit 112

Earnest money deposit Purchase and sale agreement Inspection contingency Inspection 112

Housing Wire

JANUARY 27, 2023

Rent hike protections Nearly one-third of all rental units nationwide are financed with federally backed mortgages — and the blueprint may help curb some of the steep rent price increases for these properties. Fannie Mae provided more than $69 billion in debt financing to support the multifamily market last year.

Finance 410

Finance Development Inspection Mortgages 410

HomeLight

MARCH 7, 2024

You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. This comprehensive document details everything from the purchase price, down payment, and financing terms to contingencies, closing dates, and any specific conditions both parties must meet before the sale can be finalized.

Purchase and sale agreement 113

Purchase and sale agreement Earnest money deposit Option period Due diligence 113

Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. acquisitions, divestitures and financings) of the Company.” They’ll also focus on the home insurance industry.

Inspection 433

Inspection Finance Industrial Design 433

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan. 28, 2021.

Lending 540

Lending Loans Inspection Finance 540

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

FHA loan 370

FHA loan Renovation Equity Loans 370

Realtor.com

JANUARY 9, 2023

“We spoke to the owner about owner financing,” Shirshikov says. ” Thanks to this enterprising financing arrangement, Shirshikov and his family were able to lock in affordable housing payments amounting to about $900 per month for the next 30 years. ” Dennis Shirshikov bought this house with owner financing. .”

Finance 69

Finance Loans Mortgages Banks 69

Realty Biz

SEPTEMBER 11, 2023

During this stage, various contingencies, inspections, and other conditions may need to be met before the sale is finalized. Here are the key factors that can disrupt the path to a closed real estate deal: Financing Issues One of the most prevalent causes of deals falling through is financing problems.

Earnest money deposit 111

Earnest money deposit Inspection Title Finance 111

Housing Wire

FEBRUARY 21, 2024

Curbio , a provider of pre-sale home improvement services that requires payment at closing, will provide its “Build Your Own Estimate” mobile app to NAR members, which offers free repair estimates for home inspections upon the upload of a PDF document.

Inspection 410

Inspection Investor Closing Agents 410

Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. In March 2022 , the Federal Housing Finance Agency (FHFA) made hybrid appraisals a permanent fixture.

Lending 485

Lending Loans Inspection Mortgages 485

Housing Wire

APRIL 4, 2024

The professionals who have the expertise to guide them tend to disappear shortly after they finance the home, leaving the consumer lost. Getting a home is exciting, but taking care of one is usually a series of unexpected and costly expenses.

Marketing 318

Marketing Industrial Mortgages Inspection 318

HomeLight

FEBRUARY 6, 2024

” These include: Inspection contingencies: This allows the buyer to have the home inspected within a certain timeframe. Financing contingencies: Gives the buyer time to secure financing. Types of contingencies Several common types of contingencies can cause a home to be listed as “contingent.”

Inspection contingency 112

Inspection contingency Home sale contingency Inspection Finance 112

GeekEstate Agents & Brokers

SEPTEMBER 10, 2022

Many lenders won’t offer financing on a home without a satisfactory home inspection, so it’s important for real estate professionals and homeowners to find the right home inspector. . Real estate professionals can onboard their own preferred inspectors, consolidating their home inspection appointments to one place.

Inspection 116

Inspection Investor Land Branding 116

Redfin

JULY 7, 2021

If you are planning on selling your home , you might be wondering if you need a septic inspection. How often should you get a septic inspection? By having your septic system inspected frequently, you will be knowledgeable of any problems the system may have, or better yet, catch and correct any issues before they become a problem.

Inspection 73

Inspection Closing As-is Sales 73

HomeLight

JANUARY 17, 2024

Here are some common reasons why you might decide to back out of a home purchase: Your loan financing fell through: It’s not uncommon for a mortgage loan to be initially approved but later denied due to changes in your financial situation or lending policies.

Purchase and sale agreement 107

Purchase and sale agreement Debt-to-income ratio Title search Finance 107

Realty Biz

MARCH 13, 2024

Pre-approval provides a significant advantage by showing sellers you are a serious buyer with the financing ready to make a purchase. Making Competitive Offers Offering above the asking price and waiving contingencies like financing and inspections have become common tactics for winning in bidding wars.

Pre-approval 93

Pre-approval Marketing Inspection Closing costs 93

HomeLight

DECEMBER 30, 2023

Contingencies while ‘under contract’ Here are some common types of contingencies in residential home sales: Financing contingency: A financing or mortgage contingency safeguards buyers who need to finalize a home loan. If the buyer fails to secure financing, they can withdraw without losing their deposit.

Home sale contingency 113

Home sale contingency Purchase and sale agreement Inspection contingency Inspection 113

HomeLight

JANUARY 12, 2024

They are essentially clauses in your purchase agreement that are designed to protect you from unforeseen issues, like problems unearthed during a home inspection or difficulties securing financing. What is a loan contingency? How does a contingency removal work?

Loan contingency 108

Loan contingency Loans Earnest money deposit Inspection contingency 108

Realtor.com

JULY 13, 2021

Home inspection. A home inspection is the foundation on which all other real estate contingencies are built. In the inspection, a neutral expert assesses the home for roofing, plumbing, structural, electrical, and other major problems. Well water/septic system inspection. Mold remediation.

Inspection 136

Inspection Finance Lending Brokerage 136