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. Meeting Contractual Requirements Once the escrow is opened, both the buyer and seller must fulfill the contingencies and conditions outlined in the purchase agreement.

Purchase and sale agreement 76

Purchase and sale agreement Earnest money deposit Title search Pre-approval 76

HomeLight

NOVEMBER 10, 2021

HomeLight Trade-In allows you to buy a new home before selling your old one. We work with your real estate agent to make an offer on your current home, freeing you up to bid on the home of your dreams with no lending or home sale contingency.

Home sale contingency 95

Home sale contingency Sales Closing Short sale 95

Redfin

MARCH 3, 2022

A home appraisal provides the fair market value of a property and is typically required by your mortgage lender. It’s used to determine how much you can borrow and assures the lender that they aren’t lending more than what the home is worth. They can also price their home competitively for a quick sale.

Closing 62

Closing Title search Purchase and sale agreement Title 62

HomeLight

JULY 6, 2023

Financing contingency Sometimes called a mortgage contingency , this specifies that the deal hinges on the buyer securing their loan. Considering that 78% of recent buyers financed their home purchase, this contingency is fairly standard.

MLS 92

MLS Backup offer Inspection contingency Purchase and sale agreement 92

HomeLight

NOVEMBER 21, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

Equity 99

Equity Loans Debt-to-income ratio Home sale contingency 99

HomeLight

MARCH 31, 2022

HomeLight Trade-In allows you to buy a new home before selling your old one. We work with your real estate agent to make an offer on your current home, freeing you up to bid on the home of your dreams with no lending or home sale contingency.

Purchase and sale agreement 90

Purchase and sale agreement Inspection Title MLS 90

HomeLight

MARCH 31, 2022

HomeLight Trade-In allows you to buy a new home before selling your old one. We work with your real estate agent to make an offer on your current home, freeing you up to bid on the home of your dreams with no lending or home sale contingency.

Purchase and sale agreement 89

Purchase and sale agreement Inspection MLS Inspection contingency 89

HomeLight

OCTOBER 1, 2020

Appraisal contingency. Appraisal contingencies are also related to getting your mortgage. In order to get a home loan, your mortgage lender needs to make sure they don’t lend you more money to buy the property than it’s worth. Home sale contingency. Enter the home sale contingency.

Earnest money deposit 94

Earnest money deposit Purchase and sale agreement Sales Home sale contingency 94

HomeLight

JULY 29, 2022

When you get under contract to purchase a home, your lender will order an appraisal to verify that the home is worth the amount of money that you are paying for it. A lender might not lend you more than the home is worth so if the appraisal comes in low (lower than your purchase price), you might have a problem.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

MARCH 31, 2023

The bridge lender will lend the buyer the equity they have built in their existing house so they can move forward with the purchase of a new home. If you have an approved bridge loan, you can write a non-contingent offer, so it gives you better negotiating power on your new purchase.” Who provides bridge loans in California?

Equity 81

Equity Loans Debt-to-income ratio Finance 81

HomeLight

DECEMBER 15, 2021

To help decipher them, Mikki Ramey , a top real estate agent in South Carolina, and Richard Helali, a mortgage lending expert with HomeLight Loans , gave us some pointers. A home sale contingency is a clause added to a purchase agreement that makes the sale reliant on you selling your previous home before you can close on the next home.

Purchase and sale agreement 94

Purchase and sale agreement Home sale contingency Mortgages Loans 94

HomeLight

MARCH 31, 2023

To give you all the information you need to evaluate if a bridge loan is right for you, we spoke with Rick Ruiz , who sells homes 67% faster than other agents in the Las Vegas, Nevada area, and Heidi Daunt , Branch Manager and owner of Treehouse Mortgage Group with over 35 years of lending experience. Let’s dive in.

Loans 74

Loans Debt-to-income ratio Equity Finance 74

HomeLight

MARCH 21, 2022

Generally trade-in companies will offer to buy your current home, freeing up your funds to buy a new home and removing the need for a home sale contingency. Example home trade-in companies: HomeLight Trade-In. Some home-buying companies focus on purchasing houses in specific regions, states, and cities.

Closing costs 95

Closing costs Home sale contingency Investor Closing 95

HomeLight

AUGUST 16, 2021

You can also consider growing your existing cash by getting involved in peer-to-peer lending , or by investing your funds short-term in a real estate investment trust (REIT) to build your capital. Leverage your home equity to further invest. Another great growth opportunity is to tap your home equity to invest in other real estate.

Purchase and sale agreement 104

Purchase and sale agreement Equity FHA loan Home sale contingency 104

HomeLight

DECEMBER 22, 2020

The thing is, the couple didn’t have a lot of wiggle room in their negotiation strategy because they needed to include a home sale contingency as part of their bid (this is a contractual stipulation that the buyer’s house must sell before they can complete purchase of the new one). A winning offer strategy.

Closing 87

Closing Home sale contingency FHA loan Title 87

HomeLight

JULY 6, 2022

With HomeLight Trade-In , we’ll agree to purchase your current home before you begin the homebuying process. This allows you to make a stronger, all-cash offer on your new home without having to worry about any lending or home sale contingencies.

Purchase and sale agreement 85

Purchase and sale agreement Agents Finance Inspection 85

HomeLight

JULY 31, 2022

If you’re applying for a mortgage, your lender will require an appraisal to determine the actual value of the home. Lenders will use the lower of the purchase price or appraised value when determining how much they will lend. Home sale contingency.

Earnest money deposit 89

Earnest money deposit Agents Purchase and sale agreement Title 89

HomeLight

JULY 26, 2022

When you make an offer, be sure to include any contingencies that you want fulfilled. Common contingencies include, but aren’t limited to: Inspection contingency. Appraisal contingency. Financing contingency. Home sale contingency. Final walkthrough contingency. Title contingency.

Earnest money deposit 96

Earnest money deposit Purchase and sale agreement Title Inspection 96

HomeLight

APRIL 21, 2022

And to make buying a new home even easier, HomeLight’s Trade-In program will buy your current home and allow you to make a strong offer on your next home with no lending or home sale contingencies. Eviction moratorium/mortgage forbearance.

Construction 100

Construction Agents Home sale contingency Mortgages 100

HomeLight

APRIL 29, 2022

HomeLight Trade-In : Removes the stress of buying and selling a home at the same time. HomeLight works with your agent to make an offer on your current home, so you can make an offer on a new home with no lending or home sale contingency. Trade-In allows you to close and move on your timeline.

Agents 89

Agents MLS Closing Home sale contingency 89