Realty Biz
SEPTEMBER 23, 2023
When choosing a buyer's agent, consider factors like experience and qualifications. Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure.
HomeLight
JULY 30, 2021
We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements. Lease-purchase agreements.
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Realty Biz
JANUARY 12, 2021
It’s about working with a professional agent to narrow your search and help you navigate through the purchase process. It also requires qualifying for a bank loan based on passing a set of rigid qualification standards. It means proving you are pre-qualified for a loan before you know what house you might buy.
HomeLight
MAY 24, 2021
Home sales have skyrocketed, and home inventory is historically low. 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). Perfect match, right?
HomeLight
JUNE 28, 2021
Why do some offers have one price on the purchase agreement and another price on the escalation addendum? An offer your friend submits to escalate the purchase price doesn’t qualify. The buyer will generally specify a maximum purchase price. Common contingency waivers include appraisal, inspection, and financing.
HomeLight
NOVEMBER 16, 2021
Through the Home Partners program, prospective rent-to-own homebuyers start by filling out a pre-qualification application. They must be traditional sales or for sale by owner (FSBO) homes. Homes must be listed at a price point between $100,000 and a metro’s designated maximum purchase price (which Home Partners sets).
HomeLight
JULY 31, 2020
There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property.
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