Realty Biz

AUGUST 22, 2022

That’s probably why the price was a little below the market average. Yeah, I’ve been studying the market for a while and knew what houses were selling for. In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. Now I have buyer’s regret.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 98

Point2Homes

SEPTEMBER 30, 2021

If you haven’t already, try hiring a real estate agent to market your home. And the more time your home spends on the market, the more it becomes a red flag to them. It’s possible that you’ve priced your home too steep compared to the market value or that the neighborhood itself is in decline. Lowball Offers.

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Windemere Selling

MARCH 14, 2022

When selling your home, a buyer may make their offer with contingencies attached. Here are some common contingencies you might see in a buyer’s offer and what they mean for you. Even if a buyer is pre-approved for their mortgage , they may not be able to obtain the right loan for the home.

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The Close

FEBRUARY 6, 2024

That may sound like a lot to add, but when your buyers roll it into their mortgage, it should not change their monthly payment so much that it prevents them from qualifying for their loan. Also, understand the difference between a prequalifying and a pre-approval letter. In fact, I suggest quite the opposite.

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Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. A seller might entertain other offers after a refusal, but won’t deal with another buyer until the contingent offer is settled in one way or another.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40

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. Cash offers are becoming more common, especially in this extremely competitive market,” Latif says. Compare the offer against your home’s fair market value. Traditional buyers.

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Inspection contingency Proof of funds Inspection Pre-approval 58

Windemere Buying

OCTOBER 18, 2021

Not getting pre-approved Getting pre-approved is a key component of the early stages of the buying process and will help to maximize your chances of getting your offer accepted. Because new credit changes your debt-to-income ratio, lenders will likely want to review your mortgage approval and your risk of non-payment.

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Realty Biz

NOVEMBER 11, 2020

Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. How your real estate agent markets your property when an offer has been accepted can have vital implications. For example, some agents will mark your home contingent, while others will mark pending.

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Real Trends

DECEMBER 27, 2022

Whatever side you are on, being aware of inspection issues and how to work with them will be paramount in increasing your close rate. Before a mortgage is approved, lenders will have a property appraisal. Low appraisals are common during a “seller’s market,” which often occurs when housing demand is greater than housing supply.

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Sales Home sale contingency Pre-approval Inspection 60

Windemere Buying

AUGUST 31, 2022

In a seller’s market , competition amongst buyers is high. To sweeten their offers in such market conditions, buyers will typically waive their contingencies. Common Real Estate Contingencies. Home Inspection Contingency. Financing Contingency. Title Contingency.

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Home sale contingency Inspection contingency Title Pre-approval 52

HomeLight

JUNE 21, 2022

Buyers typically pay for the inspection to uncover major issues that may give them second thoughts about purchasing the house and avoid surprise repairs after moving in. Contingencies can be costly. The appraiser utilizes this information to establish the home’s worth which affects the size of the mortgage the bank will approve.

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Inspection Purchase and sale agreement Pre-approval Inspection contingency 120

Dwell Real Estate

JULY 10, 2020

Without earnest money, buyers could theoretically make offers on multiple homes, essentially taking them off the market until the buyers decide which one they like best. Most experts recommend that you not waive the inspection contingency, unless you’re planning on tearing the property down.

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Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Windemere Buying

JUNE 22, 2022

In return, the seller agrees to take the home off the market. The timeline for inspections during the closing process vary state to state. Getting the home inspected allows you to ask the seller that certain repairs be made, request seller concessions, and renegotiate your offer.

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Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

Redfin

JULY 30, 2020

Almost half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015, according to a Redfin-commissioned survey in May and June of more than 1,400 people across 29 major markets. PT on a Wednesday, and went to bed soon after.

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Inspection contingency Purchase and sale agreement Pre-approval Inspection 72

Dwell Real Estate

JULY 10, 2020

Without earnest money, buyers could theoretically make offers on multiple homes, essentially taking them off the market until the buyers decide which one they like best. Most experts recommend that you not waive the inspection contingency, unless you’re planning on tearing the property down.

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Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Realtor.com

DECEMBER 7, 2019

Monopoly: Hasbro Concept: Greg Chow In a white-hot market, you may feel pressure to make some concessions to win over a seller—and, no, we’re not talking about sending a basket of banana-nut muffins. That’s all hunky-dory in a buyer’s market. Contingency: Early move-in. Remember—these aren’t hard rules.

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Redfin

OCTOBER 12, 2020

From navigating the mortgage approval process to the possibility of a bidding war, it can be tricky to go at it alone. Make sure they’re knowledgeable about your local real estate market and the neighborhoods you’re looking to purchase a home in. . Mortgage lender. Financial advisor. Home appraiser.

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HomeLight

AUGUST 31, 2021

Cash offers are more popular in some markets than others; for buyers trying to find a house in an area where cash offers are prevalent, competing against those offers can be a discouraging part of the homebuying process. The most obvious contingency with an offer that requires financing is, of course, the financing itself.

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HomeLight

NOVEMBER 9, 2021

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). That said, the number of days your home is on market depends on several factors, such as: The location of your home. Days on Market.

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Purchase and sale agreement Home sale contingency Title search Inspection 88

HomeLight

JANUARY 3, 2023

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Within three weeks of marketing on their own, 80% to 85% of FSBO people will contract with a real estate agent.

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Purchase and sale agreement Inspection MLS Inspection contingency 101

HomeLight

MARCH 30, 2021

Ask your real estate agent to help you gauge the current real estate market in your preferred area. Days on market: The speed at which houses are selling can be telling. If houses are sitting on the market for a while, you may get a better deal … but is there a reason why buyers are shying away from a particular area?

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HomeLight

AUGUST 25, 2020

The overarching question, as you make your way down your pre-sale checklist , is likely something along the lines of: “How long is this going to take?”. home was on the market for an average of 24 days , with Ellie May estimating an average of 46 days to close on a purchase loan. Source: (Sarah Shaffer / Unsplash).

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HomeLight

JULY 31, 2020

Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. The best way to help avoid mortgage loan setbacks is to get preapproved for one before even submitting an offer. Image Source: (Shutterstock.com/Chokniti Khongchum). Dodge move.

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Closing Purchase and sale agreement Title search Earnest money deposit 112

HomeLight

MARCH 31, 2022

The seller’s market continues to boom in Florida. drop in median time on the market. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent. Average time on market: 14 days (Jan 2022). Can FSBO sellers post a yard sign ?

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Purchase and sale agreement Inspection Title MLS 93

Realty Biz

AUGUST 2, 2023

Effective marketing strategies, such as crafting an appealing listing description and utilizing professional photography, can also significantly impact the process. Market conditions: Assess whether it's a buyer's or seller's market. Is there high demand and low inventory, or vice versa?

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Purchase and sale agreement Title Staging Inspection 94

HomeLight

OCTOBER 20, 2022

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Many FSBO sellers will purchase a pre-listing appraisal. A professional appraisal will help determine the listing price based on fair market value.

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Purchase and sale agreement Pre-approval Inspection MLS 103

Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Get final mortgage approval. Clear the title.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

SEPTEMBER 25, 2020

But carrying debt on real estate by way of a mortgage loan is an entirely different scenario. How should you think about paying vis-a-vis cash vs mortgage? There are many advantages — including financial liquidity, tax advantages , and credit-building potential — to purchasing a home with a mortgage.

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HomeLight

JUNE 30, 2021

Even as an agent with over 400 homes under my belt and 11 years of experience, I would never buy in a market in which I’m not licensed without a real estate agent,” says Jessica Arledge , a top agent who works with over 76% more single-family homes than the average Savannah agent. Be careful with this one, though!

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 84

HomeLight

SEPTEMBER 15, 2021

Mortgage statement (payoff amount). Comparative market analysis. Proposed marketing plan. Pre-listing inspection report. Contingency removal form (CA-specific). Home inspection report. Mortgage statement (payoff amount). Original sale contract. Homeowners insurance records. Past utility bills.

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Purchase and sale agreement Inspection Title Pre-approval 113

Redfin

FEBRUARY 10, 2021

What to Expect for the Housing Market in 2021. housing market is different. While the economy expands and contracts, the housing market reacts, producing buyers and seller’s markets. The housing market will remain strong through 2021 as the economy recovers from the pandemic-driven recession.

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Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 73

HomeLight

OCTOBER 29, 2020

The need for a competitive offer is stronger than ever these days, when experts nationwide agree that the events of 2020 have created a robust seller’s market. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. The benefit of owning a house far outweighs what might be considered a higher interest rate in the current market.” The amount of financial assistance available depends on the type of mortgage loan you use.

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HomeLight

APRIL 21, 2022

To help you evaluate your first offer, we’ll walk you through key consideration points, how to weigh the strength of the offer, encourage you to assess your objectives, and how to factor in market conditions. You found your new home and want to avoid carrying two mortgages. Your house has been on the market three months or more.

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HomeLight

JULY 31, 2022

But, you may not realize how much the condition of your property — its appearance, maintenance and safety — can impact the chances of converting that awesome offer into a smooth sale, especially if your buyer is using a mortgage that requires an appraisal , so it’s a good idea to get ahead on any appraisal required repairs.

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HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Henderson says that while connecting with a reputable agent who knows the San Diego market is important, one thing potential buyers should be sure to do is to align themselves with a great lender.

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Closing Earnest money deposit Sales Inspection 95

HomeLight

MARCH 13, 2023

Perhaps your Metro West resort-style condo isn’t bringing in the revenue you expected as a vacation rental and you don’t want to invest more money to list it on the market. Expanding population and job market fuel rental growth Greater Orlando’s population of 2.67 Need to Sell Your House Fast in Orlando? million people by 2030.

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Sales Investor Due diligence Renovation 83