HomeLight

JUNE 7, 2022

Preapproval matters because it tells you how much a lender is willing to lend you which dictates a budget for your home search. While prequalification can give you a good idea of what you could actually be approved for, it’s not a guarantee or a commitment on the part of the lender to actually lend you any money. Preapproval.

Mortgages 96

Mortgages Loans Lending Proof of funds 96

HomeLight

JANUARY 5, 2022

If your friend plans to pay for your home with all-cash, then you want to have your attorney verify proof of funds. A title company or real estate attorney will conduct what’s called a title search as a step in the due diligence period of a home purchase. Do: Plan for the buyer’s home inspection and appraisal.

Pre-approval 105

Pre-approval Purchase and sale agreement Title search Title 105

HomeLight

APRIL 30, 2021

If you’re using cash, you’ll have to show proof of funds with your offer. Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction. Step 1: Make an offer.

Due diligence 100

Due diligence Finance Proof of funds Earnest money deposit 100

The Close

DECEMBER 29, 2022

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. Clear title. Home inspection.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97