Inspection contingency Loans Mortgages Proof of funds 
Housing Wire
DECEMBER 8, 2023
Educate your clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Make sure your buyers understand the difference between being prequalified, preapproved and loan-committed.
HomeLight
JULY 31, 2020
You won’t literally be paying in hundred-dollar bills, but with an all-cash offer, you must have the funds to purchase the home available in a liquid account , meaning an account that allows immediate withdrawals and transfers. To be clear, an all-cash offer means you won’t be getting a mortgage loan for any portion of the sale.
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HomeLight
SEPTEMBER 9, 2020
Buying a house with cash has plenty of benefits — for one thing, you’ll be mortgage-free, which means you won’t be beholden to a monthly mortgage payment (sounds pretty nice!). That’s because “a buyer purchasing a home with a mortgage loan could still lose their financing, even with a solid preapproval letter.
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. Now that you know the basics of the cash-offer real estate world and its players, you need to understand the particulars of cash offers and how they differ from conventional offers with mortgages.
Point2Homes
SEPTEMBER 30, 2021
The Buyer Is Not Pre-approved for a Loan. Although buyers are not required to be pre-approved for a loan in order to buy a house, expecting them to be is perfectly reasonable. Not having to wait on all the mortgage-related documentation alone can be a real time saver. Sometimes, offers from a cash buyer can also signal a scam.
HomeLight
OCTOBER 20, 2022
The buyer’s lender will probably require their own appraisal as part of their loan approval process. Mortgage statement with payoff amount. This organizational worksheet helps calculate your net proceeds after deducting the mortgage payoff, taxes, escrow, and any other fees. Home inspection report. Seller’s Net Sheet.
HomeLight
JULY 31, 2021
According to the latest data from Ellie Mae, the purchase loans are taking an average of 50 days to close as of May 2021. Harvell also suggests getting concrete proof that the buyer has purchased properties in their name as part of the vetting process. Verification of funds. Inspection period. Step 6: Pass the inspection.
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