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What Does It Mean to Back Out of a Home Purchase?

HomeLight

This decision can occur at various stages – after an offer is made but before it’s accepted, after signing a purchase agreement, or even days before the closing. As you navigate each stage of a home purchase, you might come upon unexpected turns. What are common reasons a buyer backs out?

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Top Tips and Considerations For Buying Land

Realty Biz

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Each stage demands careful consideration to avoid common pitfalls and ensure the land meets your long-term objectives. Financing Hurdles Financing land can be tricky.

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Can You Put an Offer on a House That’s Contingent?

RIS Media

Real estate listings go through different stages. 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.

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8 Essential Steps to Navigating Escrow in Home Buying

Realty Biz

The National Association of Realtors (NAR) conducted a survey in October 2022, revealing that approximately 7% of deals in the preceding three months got terminated before reaching the closing stage. During this stage, the buyer, seller, or their respective agents select an escrow agent who will oversee the process.

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First Time Selling a House Checklist

Realty Biz

Prepare and Stage your Home First impressions matter when selling a home. Enhance your home's appeal by effectively decluttering, deep cleaning, and staging. One of the best attributes of any excellent Realtor is providing sound staging advice to their clients. Homes are selling fast and often for over the asking price.

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What’s the Difference Between a House Under Contract and a Pending Sale?

RIS Media

A title search may reveal a lien on the property, the buyer may be unable to get financing because of a low credit score or high debt-to-income ratio, or the house may appraise for less than the agreed-upon price. Common contingencies relate to a home inspection and financing, but there may be others.

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A Comprehensive Guide to Finding the Best Foreclosures in Your Area

Realty Biz

Auctions: Properties not sold in the pre-foreclosure stage go to auction. Check the Title: A title search will reveal any liens or judgments on the property, which you would be responsible for if you purchased the property. You want a property with a clean title, or at least an understanding of what you're taking on.