HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

Short sale 98

Short sale Closing costs Closing Sales 98

Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Contingent Statuses. Short Sale.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

FEBRUARY 26, 2021

These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. So how do “as is” sales in furniture and retail translate to “as is” sales in real estate? Buyers can still get an inspection to unearth problems. A home inspection is part of a buyer’s due diligence.

As-is 106

As-is Sales Inspection Investor 106

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). Repairs identified in the inspection. Requesting a reasonable decrease in the sale price based on the cost of repairs. Dodge move.

Closing 116

Closing Purchase and sale agreement Title search Earnest money deposit 116

HomeLight

SEPTEMBER 1, 2020

If the homeowner fails to catch up on their payments by the auction date, the home is auctioned for sale. You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”. Bank-owned property sales work a little differently and can often take a bit longer.

Banks 90

Banks Inspection contingency Inspection FHA loan 90

HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. You will also have to expect a drawn-out process and condition issues, and you’ll have to button up your insurance and inspection processes.

Banks 98

Banks Inspection Inspection contingency Title 98

HomeLight

JANUARY 13, 2022

These conditions are known as contingencies, which is where the term “active contingent” comes from. Many offers contain contingencies. In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found. Common types of contingencies.

Backup offer 90

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 90