The Close
FEBRUARY 6, 2024
Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. In fact, I suggest quite the opposite. What if there’s structural damage?”
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. House flippers , on the other hand, pay cash to purchase homes that require major repairs, renovate them, and then resell them for a profit. Home inspection contingency.
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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.
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?”. Below are just some of the typical pre-listing preparations that Shapiro calls out as essential: Reduce clutter. Resist the urge to do major renovations. Condition of the home.
HomeLight
AUGUST 31, 2021
The most obvious contingency with an offer that requires financing is, of course, the financing itself. submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved. So how can you inspect a home and still have a competitive offer?
HomeLight
JUNE 17, 2022
Your want to sell your home without renovating. You don’t have the time or money to do renovations and want to move without extensively updating your home, and are willing to accept less money for it. Appraisal contingency : The buyer may cancel the contract if the purchase price is higher than the appraised value of the home.
HomeLight
MARCH 13, 2023
With the strong Florida sun shortening the lifespan of roofs and air conditioning systems, costly renovations may be necessary. A cash buyer relieves them of the headaches of renovating and listing the property. Many people who contact Reiner have older homes that haven’t been updated. For a rental, not as much,” explains Joseph.
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