Keeping Current Matters

NOVEMBER 30, 2020

Understand Your Finances. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. Bottom Line.

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Realty Biz

MARCH 13, 2024

A lot of new buyers just eager for their new lives often miss some crucial steps during the buying process such as undergoing complete pre-purchase home inspection and understanding mortgage terms fully. Ignoring Home Inspection Values It may prove expensive in the future when you opt not to do a home inspection to save money now.

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Realtor.com

AUGUST 13, 2020

Step 1: Getting mortgage pre-approval. If problems crop up—with the home inspection, appraisal, mortgage, or other things—then the real estate buying process could take even longer. Step 1: Get pre-approved for a mortgage. Keep in mind that mortgage pre-approval is different than mortgage pre-qualification).

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HomeLight

JANUARY 3, 2024

After you open escrow and the buyer submits a good faith earnest money deposit, some or all of the following contingencies may need to be addressed: The financing contingency will appear in contracts where a buyer needs to finalize a mortgage loan to purchase the home.

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Toronto Realty Blog

JUNE 2, 2021

They would be conditional on a lawyer’s review, a home inspection commissioned by the buyer (but paid for by the government…), satisfactory and guaranteed mortgage financing, a catch-all for unfettered “due diligence,” and a mandated ten-day cooling-off period where the buyer can change his or her mind for any reason.

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Windemere Selling

JULY 19, 2023

10 Important People in the Home Buying Process #2 Get Pre-Approved for a Mortgage Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount).

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Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. The agent also helps with the paperwork, including making offers, reviewing contracts, and coordinating inspections and appraisals. It is essential to prepare for the mortgage pre-approval process.

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Real Trends

AUGUST 8, 2022

Your buyer or seller gets cold feet, or struggles with financing, leading to a “dead deal.” Deals fall through for several reasons including the following: Issues are found during inspection: A home inspection may reveal issues with the property causing the buyer to back out. Appraisal or inspection issues.

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Realtor.com

NOVEMBER 23, 2020

Secure your financing as soon as possible. Getting pre-approved for a mortgage and securing financing are an essential first step when buying a home. Getting pre-approved for a loan is obviously important, but is there anything else they can do to put themselves in a good position?”

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HomeLight

JUNE 9, 2023

These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. Until those contingencies are cleared, the house isn’t officially sold.

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Realty Biz

AUGUST 22, 2022

In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. I didn’t even include an inspection contingency. Gianna, if I understand you correctly, the only contingency that you have is your loan approval which is based on the appraisal. Now I have buyer’s regret.

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Point2Homes

JANUARY 31, 2023

With a budget in place, your next step should be to get pre-approved for a mortgage. Without being pre-approved, you’ll need to delay your offer while you secure financing. If, after the home inspection, repairs need to be carried out, negotiations can continue. and speak to your agent for solid advice.

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RIS Media

APRIL 18, 2022

Buyers are waiving a home inspection. Getting rid of the mortgage financing clause in their offer. Get pre-approved for a mortgage. Before making an offer on a property, it’s important to have pre-approval for a mortgage. Your agent can help you get pre-approved for a mortgage in the current market.

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RIS Media

APRIL 8, 2022

Finances falling through. Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. Home inspection problems. These include; .

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Realty Biz

JULY 1, 2023

Providing documentation of pre-approval - Providing proof of pre-approval from a lender will show that they're ready and willing to lend money when needed during escrow. Step 5: Securing Home Financing One of the critical steps in the home-buying process is obtaining the necessary financing to purchase the property.

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Windemere Buying

APRIL 12, 2023

Mortgage Lender You need financing to buy a home. After identifying which lender you’d like to work with, a helpful first step is to get pre-approved for a mortgage by submitting financial information for their review. Home Inspector The home inspection is key to the home buying process.

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First Team Real Estate

SEPTEMBER 14, 2020

There are many stages to the transaction from securing financing and negotiating prices to closing the sale – leaving plenty of time for mistakes to happen. Be sure to avoid these six rookie mistakes when buying real estate or the ghost of inspections passed and more could haunt you – even after your sale is finished!

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HomeLight

JULY 25, 2022

While they typically report to people on the other side of the transaction, the appraisal and inspection report generated by these professionals can impact your bottom line. In the December 2021 survey, 19% of buyers waived the inspection contract contingency, down from its height of 27% in July 2021. Request Estimate.

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RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. The fee, usually 0.3 – 1.5

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HomeLight

JANUARY 12, 2022

Next steps include the home inspection, appraisal, and final paperwork. And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. Complete home inspection: 5-15 days. The buyer typically has 5-15 business days to complete the inspection after they sign the contract.

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CT Homes

FEBRUARY 13, 2024

Assess Your Finances Understanding your financial health is crucial before taking on the dual tasks of selling and buying. Secure Mortgage Pre-Approval Knowing how much you can borrow is key when looking for a new home. At CT Homes, we don’t mandate a home inspection or appraisal to make our cash-as-is offer.

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Realty Biz

FEBRUARY 16, 2024

You need to finish a state-approved pre-licensing real estate course. In addition, the state can request to attend approved real estate courses every few years. Complete a pre-licensing education (varies from state to state but usually lasts around 135 hours) and pass a state licensing exam. Now comes the real challenge!

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Housing Wire

DECEMBER 7, 2023

After completing an approved course of study, you’ll be able to sit the state real estate exam. Colibri Real Estate is a state-approved real estate education provider with over 132 instructors experienced in Massachusetts real estate sales and teaching best practices.

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The Close

FEBRUARY 14, 2024

Plus, consider the fact that if an issue arises during the inspection, they can offer a credit to keep the deal moving forward. Navigating the Selling Process Myth #8: Getting Pre-approved Should Happen After Finding Your Perfect Home House hunting can be exhausting. Even just showing a home takes a lot of coordination.

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Realtor.com

JANUARY 2, 2023

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

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Windemere Buying

JULY 20, 2022

How to Win a Bidding War When Buying a House Get Pre-Approved for a Loan Not only is getting pre-approved for a mortgage an important step early on in the buying process, but it’s also a prerequisite for having your offer considered in a bidding war. Pre-approval gives you credibility as a buyer.

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Lighter Side of Real Estate

AUGUST 5, 2020

Ask an agent to go see houses before getting pre-approved. If you haven’t actually qualified for financing, you should hold off on going to look at houses with a real estate agent (or even going to open houses), since there’s no guarantee that a mortgage company can lend you the money. Try to mislead the mortgage company.

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Point2Homes

SEPTEMBER 30, 2021

It’s used by buyers who already have a home they’re looking to sell to finance buying another one. The Buyer Is Not Pre-approved for a Loan. Although buyers are not required to be pre-approved for a loan in order to buy a house, expecting them to be is perfectly reasonable. If not, the deal falls through.

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The Close

FEBRUARY 6, 2024

The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. Also, understand the difference between a prequalifying and a pre-approval letter.

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CT Homes

AUGUST 31, 2020

Even when you have a signed contract you still need the inspection, appraisal, insurance and closing to go off without a hitch. Financing Issues. There is a huge difference between a pre-qualification and a pre-approval. Overwhelming Home Inspections. A handful of buyers back out of deals every day.

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Housing Wire

NOVEMBER 30, 2023

Your path to real estate licensure begins with 120 hours of classes in an approved Ohio real estate license education program. Step 1: Complete the prelicensing education requirements Applying for an Ohio real estate agent license starts with fulfilling the 120-hour sales associate pre-licensing education requirement.

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Realty Biz

MAY 1, 2022

You don’t want to hang your hat on a seller looking at a pre-approval letter from some no-name lender. Some sellers will choose the higher offer when you’ve got solid financing credentials. Waive The Home Inspection. One of the bigger stumbling blocks in any home purchase is the home inspection.

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Windemere Selling

MARCH 14, 2022

Common Real Estate Contingencies Home Inspection Contingency A home inspection contingency allows the buyer to have the home professionally inspected within a certain window of time. If the seller chooses not to make the repairs outlined in the buyer’s home inspection report, the buyer can cancel the contract.

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Housing Wire

FEBRUARY 8, 2022

Bill Bymel, managing director at Spurs Capital , an investment manager specializing in distressed mortgages, said that about 15% of the overall portfolio during the pandemic contained non-communicative borrowers, up 50% compared to the same pool of borrowers pre-COVID. Still, monthly foreclosures were half the pre-pandemic levels. “We

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Real Trends

OCTOBER 1, 2022

You might have it inspected and possibly not have to guarantee the appraisal gap. Inspections will start to matter again. Get your knowledge updated about adjustable rate mortgages, buydowns, seller financing, and other alternatives to the 30-year fixed. It’s not good enough to just be pre-approved.

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Windemere Selling

JULY 12, 2023

Home Inspector Another important aspect of preparing your home for sale is being aware of what repairs it needs, which is why some sellers conduct a pre-listing inspection. Even if you don’t get a pre-listing inspection, a home inspector will enter the fold eventually.

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HomeLight

JUNE 28, 2021

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction). Get pre-qualified with a mortgage lender.

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