Redfin

JUNE 11, 2025

In real estate, contingencies are conditions included in a purchase agreement that must be met for the transaction to move forward. Appraisal contingency When a buyer finances a home, lenders require an appraisal to confirm the property’s value supports the loan amount.

Purchase and sale agreement

Redfin

JULY 2, 2025

A question that rattles both sellers’ nerves and real estate professionals’ phones: What happens when a buyer backs out of a home sale? Every real estate transaction carries this tension, and knowing your rights and options is important for a successful sale. Financing: Even with pre-approval, buyers might fail to secure a mortgage.

Purchase and sale agreement

Redfin

JULY 17, 2025

However, the IRS may scrutinize the sale, especially if it’s below market value. To avoid tax issues, document the sale properly, follow fair market pricing, and treat the process like a typical real estate transaction. This ensures the sale is priced appropriately and helps prevent tax issues related to under-market transfers.

Purchase and sale agreement

Redfin

JULY 14, 2025

It’s designed to show the seller they’re serious about the purchase and typically ranges from 1% to 3% of the purchase price. If a buyer acts outside the bounds of that agreement, even unintentionally, and the deal falls through as a result, it can be considered a breach of contract.

Earnest money deposit

Redfin

JULY 30, 2025

Key takeaways: A cash offer on a house means the buyer pays the full purchase price upfront without relying on mortgage financing. Even without liquid funds, buyers can explore bridge loans, private lenders, or creative financing to structure a cash-like offer. Both parties sign closing documents, finalizing the sale.

Purchase and sale agreement

Redfin

JUNE 23, 2025

You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. It’s a crucial period to verify the property’s condition, ensure it meets expectations, and meet any financing requirements set by the lender. What happens in the due diligence period?

Due diligence

Redfin

JUNE 5, 2025

This can give you a real edge, potentially helping you secure a property even when others are putting in higher offers that rely on financing. home purchases were made in cash in 2024. Essential closing costs beyond the purchase price Even without a lender, you’ll encounter several categories of closing costs.

Closing costs

Redfin

JULY 10, 2025

After offer acceptance At the start of the due diligence period Purpose Shows buyer commitment and secures the contract Compensates seller for taking property off the market Applied to purchase? Credited toward the purchase price at closing Credited toward the purchase price if sale closes Fee amount 1-3% of the purchase price Often 0.1%

Due diligence

Redfin

MARCH 4, 2025

15 documents to have before listing your home Collect paperwork that highlights your homes selling points for an accurate pricing strategy, additional documentation to pass on to the new owners and other real estate forms required for the sale. Particularly youll need the original purchase agreement and deed.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles What Does a Real Estate Lawyer Do? These documents include purchase agreements, deeds, titles, lease agreements, and financing contracts.

Purchase and sale agreement

HomeLight

MARCH 24, 2025

If youre selling an inherited property in West Virginia, you may find yourself in a three-way tug-of-war with time, finances, and emotions. Sell Your Inherited West Virginia Home Quickly For Cash Request a no-obligation cash offer from HomeLight’s Simple Sale platform and receive a purchase quote in 24 hours.

Purchase and sale agreement

Redfin

JULY 9, 2025

Whether you’re purchasing your first home or need a refresher, understanding each step in the home buying process timeline can help you avoid surprises and feel more confident along the way. It’s also a good time to check your finances. Are you looking at homes for sale in Juneau, AK or Miami, FL ?

Pre-approval

Redfin

MARCH 18, 2025

When buying a home, youll likely come across the term earnest money – a deposit that shows the seller youre serious about the purchase. This deposit is usually between 1% and 3% of the homes purchase price, but the amount can vary based on the local market and the agreement between you and the seller. Do you get it back?

Closing

Redfin

JULY 11, 2025

This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through. That means if the sale is completed, the money is not refunded – it’s credited toward what you owe. When is earnest money refundable?

Earnest money deposit

Redfin

JUNE 30, 2025

That said, laws and practices vary slightly by state, so it depends on how the title company, attorney, or escrow agent handles closings. Closing agent: A title company representative, escrow officer, or closing attorney (depending on the state) oversees the process, ensures documents are signed correctly, and handles funds.

Closing

AAOA

MAY 22, 2025

Understanding What Youre Really Buying When youre buying an apartment building , youre not just purchasing property, youre acquiring a business. Step 2: Get Pre-Approved or Prepare to Raise Capital Before you make offers, get your finances in order. Purchase Price Apartment complexes vary widely in price. Talk to lenders.

Due diligence

Redfin

AUGUST 6, 2025

Amongst all the excitement and anticipation that comes with buying a home, it’s important to keep a realistic timeline of just how long it takes to purchase a house. In this Redfin article, find out how long it takes to buy a house based on the three most common scenarios – a cash offer, a mortgage, and a short sale.

Pre-approval

Redfin

JUNE 17, 2025

Selling a house can be a long process, and it makes sense that the seller would want to know when the seller gets money after closing – especially if those funds are being used to purchase a new home. What needs to be done before settlement It typically takes between 30-60 days from accepting an offer on your home to closing a sale.

Closing

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Earnest Money and House Deposits Explained Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

Earnest money deposit

Toronto Realty Blog

JANUARY 16, 2025

This story brings us back to last summer when a client of mine purchased a small west-side home and, upon closing, the listing agent had some very interesting ideas about how to go about making up his financial loss on the property. Perhaps we should take a quick pause here just to get some simple math out of the way. This time, he accepted.

Closing

Redfin

JULY 21, 2025

The best and least complicated time to walk away from a home purchase is before signing the purchase agreement. If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences.

Earnest money deposit

Redfin

JUNE 27, 2025

These concessions are negotiated during the offer process and help make the purchase more affordable for the buyer, without reducing the home’s sale price. Be prepared to justify the request with your financing needs or inspection findings. For example, a buyer might ask the seller to pay $5,000 toward their closing costs.

Seller concession

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles How to Buy a House in New York Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

Purchase and sale agreement

Redfin

JUNE 27, 2025

These can greatly affect both the quality of your purchase and your bottom-line expense. Whether you’re purchasing your first home in Phoenix, AZ or in Trenton, NJ , here’s what you need to know before starting the homebuying process. Stay grounded by focusing on your priorities and budget.

Pre-approval

Redfin

JULY 31, 2025

Check with your state’s housing finance agency for options. Fannie Mae’s HomePath Ready Buyer Program : This offers up to 3% in closing cost assistance when purchasing a HomePath property and completing a homeownership course. Avoid new credit: Don’t open new credit accounts or make large purchases before applying for a mortgage.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Here are the top frequently asked questions that home sellers ask before listing a home for sale, questions relating to home value & pricing, questions relating to contracts, and questions relating to purchase offers. Frequently Asked Questions Before Listing Their Home For Sale When is the best time to sell my home?

Purchase and sale agreement

Redfin

JULY 8, 2025

This notice informs the homeowner that they have missed a specified number of mortgage payments and are in default of their loan agreement. Address missed payments or initiate home sale Once a homeowner receives a Notice of Default, they have several options to address the situation.

Purchase and sale agreement

Redfin

JANUARY 28, 2025

Instead of applying for a new home loan with todays mortgage rates and terms, the buyer steps into the seller’s position as the borrower and continues making payments under the original loan agreement. This is typically reflected in the sale price of the property.

Loans

Redfin

AUGUST 5, 2025

Home buyers can legally purchase a home from their parents or any family member. Of course, this depends entirely on the circumstances of the sale, but you’ll likely avoid a bidding war. For the sale to work out, you may need to be ready to move in at the same time your parents are ready to move out. Can I buy my parents’ house?

Purchase and sale agreement

Redfin

JUNE 17, 2025

A gift of equity is the difference between the fair market value and the sale price. On a $400,000 sale, that could mean saving about $20,000 in closing costs. Be sure to get all agreements in writing. Checking the title to make sure there are no property liens or judgements will also provide you with extra peace of mind.

Purchase and sale agreement

Redfin

JULY 1, 2025

Whether you’re co-purchasing a townhome in Seattle, WA or a house in Boston, MA , joint mortgages allow you to split a loan with someone else to help make homeownership more affordable. This type of arrangement allows co-borrowers to combine their income and credit profiles, which can help with loan approval or boost purchasing power.

Debt-to-income ratio

Redfin

JUNE 17, 2025

One person may stay in the home while both parties share ownership and costs, often with an agreement to sell at a later date. Deciding who gets the home depends on a few key factors: whether the house is considered marital or separate property, what your state laws say, and whether you have a prenuptial or postnuptial agreement in place.

Purchase and sale agreement

The Close

JULY 1, 2025

A home is the largest purchase most people will ever make, and many buyers rely on mortgage financing. This makes it possible for buyers who might not qualify for traditional loans to still secure financing. Minimum down payment The minimum down payment on an FHA is just 3.5%, calculated from the home’s purchase price.

FHA loan

Redfin

JULY 3, 2025

A home can provide a fresh start, but buying too soon can create complications if your divorce isn’t fully settled or if your finances aren’t yet stable enough for a mortgage. Waiting until your divorce is finalized can help prevent legal or financial complications during your purchase, ensuring a smoother path to closing.

Debt-to-income ratio

Toronto Realty Blog

APRIL 3, 2025

It’s a sexy title, I’ll give it that. Back in 2004, you could purchase a pre-construction condo with 5-10% down. 2) His “plan” was to make the first payment or two and then assign the purchase agreement before the other payments were due. In a 21-year career. Those were the days.

Construction

Redfin

JUNE 30, 2025

Read this Redfin article to find out a few of the most common home sale scenarios and their recommended document retention periods. You should keep paperwork related to the sale of your house for several years after the sale — often at least seven — especially if the sale involved a large gain, home improvements, or any unusual circumstances.

Purchase and sale agreement

Seattle Times Real Estate

MAY 11, 2025

Before buying the home, the two signed a written agreement outlining how they would handle various issues that might arise. Advertising Shortly after the purchase, Brown took out a $15,000 home equity line of credit, borrowed against what her friend had put down as their down payment.

Equity