RIS Media

APRIL 18, 2022

Getting rid of the mortgage financing clause in their offer. Allowing the seller to rent back for a specified amount of time. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage.

Pre-approval 118

Pre-approval Backup offer Due diligence Rent back 118

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.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

AUGUST 31, 2021

A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. There’s no financing contingency.

Due diligence 76

Due diligence Inspection Pre-approval Pre-qualification 76

Redfin

FEBRUARY 2, 2021

According to Redfin’s Chief Economist Daryl Fairweather, “mortgage rates are as low as they may ever get, so if you are able to buy a home now, you can take advantage of low rates before they rise.” 1) Get Pre-Approved for a Home Loan. Be Ready to Act Instantly in a Seller’s Market. 2) Get a Great Real Estate Agent.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

The Close

APRIL 28, 2022

In today’s tight inventory market, trying to help buyers with financing and limited funds feels a little like getting into a boxing match with Mike Tyson. We’ll share our strategies to improve your offer by reducing the negative aspects of financing while creatively solving some of the other concerns a seller may have.

Rent back 104

Rent back Closing costs Finance Agents 104

HomeLight

MAY 24, 2021

Get preapproved for a mortgage. A step up from pre-qualification, preapproval often means the lender gives conditional approval, stating the size of the mortgage you’ve been preapproved for (though what constitutes a “preapproval” can vary from lender to lender). Shop under your maximum comfortable mortgage amount.

Pre-qualification 103

Pre-qualification Pre-approval Purchase and sale agreement Loans 103

Realtor.com

OCTOBER 29, 2020

Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Get final mortgage approval.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139