Realtor.com

NOVEMBER 28, 2022

“There are bridge loans that will allow for short-term use of equity from your current property to serve as a down payment for the next property if this is needed. ” Current rates on bridge loans range from 6% to 16% with the idea that you’re paying off the loan as quickly as possible, as soon as your original house sells.

Marketing 119

Marketing Pre-approval Equity Finance 119

HomeLight

JUNE 29, 2021

Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. iBuyers , or “instant buyers,” are direct real estate buyers who purchase homes at scale. iBuyers , or “instant buyers,” are direct real estate buyers who purchase homes at scale.

Inspection contingency 56

Inspection contingency Proof of funds Inspection Pre-approval 56

HomeLight

JUNE 9, 2023

average % of contracts with an appraisal contingency: 80% Financing contingency Also known as mortgage contingency , the financing contingency states that the buyer can back out of the deal if they can’t get their loan to go through. An alternative route is to sell your home off-market to an iBuyer, house-flipper, or buy-and-hold investor.

Home sale contingency 140

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 140

HomeLight

APRIL 29, 2021

Your buyer’s loan approval is often the closing step that takes the longest. Ellie Mae estimates that it takes 46 days on average to close a loan. Issues like loan delays, survey issues, and title issues can stretch your closing weeks or longer. Pay off any debts on the property. Hand over the keys to the new owner.

Purchase and sale agreement 93

Purchase and sale agreement Pre-approval Inspection Inspection contingency 93

HomeLight

SEPTEMBER 21, 2020

High-tech players — called iBuyers — have cropped up in recent years. Unlike flippers, iBuyers purchase homes in fairly good condition at a high volume, turn them around quickly, and aim to offer a seamless home-selling experience online with easy-to-use digital platforms. Access hundreds of pre-approved buyers nationwide.

VA loan 109

VA loan Purchase and sale agreement Loans Pre-approval 109

HomeLight

MAY 27, 2021

Once you execute a lease, your house qualifies as an income-producing property, which could help you qualify for a loan for your next home before your current property sells. iBuyers (or internet buyers), buy-and-hold investors, and flippers offer to quickly purchase your home with cash, closing within weeks or even days. .

Purchase and sale agreement 98

Purchase and sale agreement Staging Agents Brokerage 98

Housing Wire

JULY 16, 2021

To provide that competitive edge, Tomo claims to issue mortgage pre-approvals within hours – not days – and cut closing times to 21 days (the industry average is 47 days). history, follows a pre-seed round of $40 million. According to ValuePenguin , the average close-out time is 47 days on all loan types.

Lending 445

Lending Pre-approval Mortgages Closing 445

HomeLight

MARCH 13, 2023

Speed: One of the biggest benefits is a fast sale, as cash buyers are able to close the transaction quickly without the delays often associated with traditional home sales, such as waiting for financing approval or appraisal. According to data from Ellie Mae, purchase loans take an average of 50 days to close.

Sales 89

Sales Purchase and sale agreement Due diligence Inspection 89

HomeLight

AUGUST 31, 2021

Fast-forward to closing: Without a lender’s involvement, there will be no lender-ordered appraisal or loan processing period, which as of June 2021 averaged 51 days , according to a report from Ice Mortgage Technologies. Hot market puts pressure on iBuyer offers. Simple Sale is HomeLight’s version of an iBuyer service.

Proof of funds 144

Proof of funds Investor Due diligence Closing 144

HomeLight

OCTOBER 8, 2020

So, it has allowed my sellers/buyers to get approved, and then go out and find the home that they’re in love with and be able to write a very strong offer, not contingent on the sale of their house, and win. ” And fortunately, I had just been approved to be a Trade-In agent with HomeLight. And I picked up a new trade-in.

Agents 78

Agents Pre-approval Inspection Staging 78

HomeLight

MARCH 21, 2022

iBuyer companies such as Opendoor and Offerpad are one newer type of house buying operation, having emerged in the mid-2010s. For example, iBuyers lean heavily on digital tools to make offers and provide a mostly online selling experience. Example iBuyer companies: Opendoor. iBuyer companies. Trade-in companies.

Closing costs 93

Closing costs Home sale contingency Investor Closing 93

HomeLight

MARCH 13, 2023

iBuyers see opportunity in Austin. They may want to avoid the 6% interest rate of a loan by buying with cash. There are also national iBuyers who tend to pay more than investors and “we buy houses” companies because iBuyers look for homes in better condition. No pre-qualifying for a loan.

Sales 68

Sales Investor House Flipping Pre-approval 68

Real Trends

SEPTEMBER 22, 2022

charged if Zillow Home Loans is used for financing. “To According to listing agents, a cash-backed offer is more than two times more likely to be accepted over a pre-approved offer. In addition, buyers must be working with an agent trained in Zillow-backed offers and have a minimum of a 5% down payment. instead of the 0.5%

Pre-approval 52

Pre-approval Finance Agents Loans 52

HomeLight

FEBRUARY 25, 2022

They offer at least two other services: Ideal Agent iBuyer program. If you want to avoid the hassle of preparing a house to list and negotiating with buyers, you can check out the Ideal Agent’s iBuyer program. Cash offers are three times more likely to win and can get you a 5% savings, on average, versus offers with a loan.

Agents 84

Agents Pre-approval Loans Sales 84

HomeLight

MARCH 13, 2023

Common types of cash buyers in Orlando “For the longest time, the biggest players were the hedge funds and iBuyers,” says Joseph. While iBuyers offered higher prices than smaller investors, they have taken a step back as the cost of doing business has soared with rising interest rates. They are more willing to invest in the community.

Sales 78

Sales Investor Due diligence Renovation 78

GeekEstate Agents & Brokers

MARCH 6, 2022

Reali had similar ambitions in 2016 , but is now a straight power-buyer advertising buy before you sell, cash offers, and loans. Perhaps, with prices only visible to pre-approved buyers. HomeVana was another that took a failed stab at it. Its exit from iBuying makes this possibility even more likely.

Brokerage 77

Brokerage Agents Pre-approval Industrial 77

HomeLight

FEBRUARY 3, 2022

This eliminates the processing of a buyer’s loan and home appraisal, which are typically the two most time-consuming steps in the home sale process. Many cash-for-homes operations have moved online, while iBuyer companies go so far as to value your home using technology and provide a near-instant offer for convenience.

Pre-approval 98

Pre-approval Staging Agents Proof of funds 98

HomeLight

MARCH 16, 2023

Common types of cash buyers in Houston Krueger says iBuyers are purchasing fewer homes in Houston. Consumers are exploring more and more options these days,” he notes as iBuyer activity slows down. The majority of calls I get are from sellers who need a quick sale,” says Ramcharitar.

Sales 64

Sales Purchase and sale agreement Earnest money deposit Investor 64

HomeLight

SEPTEMBER 16, 2021

A ‘cash offer’ simply means the offer does not include a financing contingency — in other words, it’s not dependent on the buyer being able to secure a loan.”. Some loan programs that a traditional buyer would use to purchase a home come with strict guidelines that can make fixer-uppers more difficult to sell. Flexibility.

Title 98

Title Inspection Proof of funds Investor 98

HomeLight

NOVEMBER 7, 2022

Pre-listing inspection, if desired or needed: $279 to $400. Mortgage loan payoff: Ask lender (Texas state average is $176,736 ). Sellers in Houston are required to complete one of the approved disclosure forms. Loan payoff information. Professional cleaning services: $160 to $200 , based on a 2,000-square-foot home.

Seller concession 78

Seller concession Purchase and sale agreement Closing costs Inspection 78

HomeLight

OCTOBER 20, 2022

Pre-listing inspection, if desired or needed: $279 to $400. Mortgage loan payoff: Ask lender (Texas state average is $176,736 ). Sellers in Austin are required to complete one of the approved disclosure forms. Loan payoff information. Professional cleaning services: $160 to $200 , based on a 2,000-square-foot home.

Seller concession 86

Seller concession Purchase and sale agreement Closing costs Inspection 86

HomeLight

JANUARY 28, 2022

According to the latest data from Ice Mortgage Technologies, purchase loans are taking an average of 50 days to close , which isn’t always a feasible timeline for a seller in a hurry. For example, iBuyers typically only buy homes in fairly good condition and tend to operate in markets that contain somewhat homogenous housing stock.

Investor 78

Investor Agents Sales Pre-approval 78

HomeLight

JUNE 14, 2022

Pre-listing inspection: $279-$400 , if desired or needed. Title fees: $3,000+ (depending on the price of the home, deposit, and loan amount). Mortgage loan payoff up to a 1%-2% early pay off fee which could cost $3,650-$7,300. Home repairs: $2,600 to $3,650. Staging the house: $1,607 . Paint for interior spaces: $3,900-$9,100.

Seller concession 87

Seller concession Purchase and sale agreement Closing costs Title 87

HomeLight

APRIL 29, 2022

iBuyer (instant buyer) platform. Launched in 2015, Offerpad is another major player in the iBuyer industry. The program would let customers input their home data and receive a cash offer similar to other iBuyer platforms. RedfinNow cash offer : This is Redfin’s ?iBuyer How does Redfin make its money? Offers a trade-up program.

Agents 87

Agents MLS Closing Home sale contingency 87