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. If something is wrong, you can request that it be fixed—or you can back out of the sale. Clear the title. Do a final walk-through.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

Realtor.com

DECEMBER 10, 2020

But it’s not the only negotiable part of the sale—there are plenty of other ways to haggle aside from list price. “In In this market, trying to negotiate a sales price probably won’t get you far.”. In a competitive market, buyers might be tempted to forgo a home inspection to speed up the process and appeal to sellers.

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Closing costs Inspection Closing Rent back 142

Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% The inspection contingency allows the buyer to cancel a purchase or request repairs if they find an issue during the inspection period. Active listings—the count of all homes that were for sale at any time during a given month— dropped 20.7%

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Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted. Source: (LinkedIn Sales Solutions / Unsplash).

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Rent back Inspection contingency Earnest money deposit Finance 102

HomeLight

FEBRUARY 28, 2022

“The logistics include timing the purchase and the sale, negotiating with both sides on moving or possession dates, and organizing belongings to get ready for the move,” said Mike Qui, owner of Good as Sold Home Buyers. Juggling the sale of one home and the purchase of another can be stressful even under the best of circumstances.

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Equity Debt-to-income ratio Closing Loans 114

HomeLight

APRIL 29, 2021

The home sale process involves a long list of steps, and your execution of each impacts your final sale price. As with most things in life, preparation is the key to a successful home sale. With 24 years of experience under his belt, Thompson shared a few gems about navigating the home sale journey. Landscaping: 100 %.

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Purchase and sale agreement Pre-approval Inspection Inspection contingency 92

The Close

FEBRUARY 6, 2024

They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. 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.

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The Close

APRIL 28, 2022

Once the property is purchased, the buyer rents the property from Homeward until their loan is finalized. The fee is about 2%, but it is reduced if the buyer uses Homeward Mortgage for their final loan. Bidding wars are causing sales prices to rise far beyond what we as agents or appraisers can realistically justify.

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Rent back Closing costs Finance Agents 104

HomeLight

AUGUST 31, 2021

Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. Updated August 31, 2021.

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Due diligence Inspection Pre-approval Pre-qualification 73

HomeLight

JANUARY 7, 2022

So, instead of stressing your way through two sales, you can set yourself up for success and have your bags packed for your new home in no time. They’ll also introduce you to options, such as a bridge loan or home equity line of credit, to assist in your sale if needed. List your house for sale.

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Equity Loans Debt-to-income ratio Closing 103

RIS Media

APRIL 18, 2022

Look at recent sale prices, as well as neighborhood trends. Buyers are waiving a home inspection. Allowing the seller to rent back for a specified amount of time. Over the life of the loan, it could translate into thousands of dollars. The terms of the loan. All real estate is local, after all.

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Pre-approval Backup offer Due diligence Rent back 112

Real Trends

MARCH 3, 2022

If you have clients that are thinking about offering, keep in mind that the offers we have already received are well above list price, have waived inspection and appraisal, and are willing to honor the Seller’s request of a free 60-day rent-back.”

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Agents Due diligence Inspection Rent back 103

HomeLight

DECEMBER 15, 2022

They may already be feeling emotional about selling a childhood home , or there could be disputes about the sale proceeds. Pre-foreclosure or short sale transactions. Someone facing a foreclosure or who has negotiated a short sale with their lender could have a very negative reaction. Again, emotions may be high.

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Inspection Closing Rent back Agents 85

HomeLight

NOVEMBER 10, 2021

Or that FHA loan limits vary widely, too? Buyers who are moving from one area of the country to another could be shocked at the difference in prices and loan limits. The conventional loan limit is much higher in Massachusetts, she explains, “so I qualified for a higher mortgage with only 5% down.” Step 9: Order an inspection.

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Inspection Title Agents Pre-approval 84

HomeLight

FEBRUARY 4, 2022

Source: (LinkedIn Sales Solutions / Unsplash). Guide you through the steps of due diligence and inspections. Coordinate with the closing attorney and seller’s agent to finalize the sale. … Let’s take a closer look at 11 reasons why you should definitely hire a real estate agent. An agent is your advocate. And lots more!

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Agents Purchase and sale agreement Due diligence Inspection 88

HomeLight

OCTOBER 1, 2020

After a low appraisal on your dream home , you may assume that this is the end of the road because it may mean the termination of your mortgage loan if you can’t work out a deal. Short sales in the neighborhood . In some cases, short sales may be to blame for a low appraisal. Can you offer a rent-back agreement to the seller?

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Purchase and sale agreement Short sale Rent back Sales 83

Real Trends

JULY 15, 2022

The situation in today’s housing market is consistent with that of the previous two years: a lower inventory of houses available for sale than the demand. Also, lending guidelines are much tighter today than in previous years so banks aren’t approving risky loans to potential buyers. What you need in today’s market.

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Loan Officer Agents Rent back Loans 52

HomeLight

JANUARY 4, 2022

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market, as sellers benefit from new technologies, instant sale platforms , and a competitive housing environment that has increased the percentage of cash offers.

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Redfin

MAY 7, 2021

In a seller’s market, you may be tempted to put an offer on a home that’s contingent on the sale of your current home. Another option to consider is gap financing such as a Home Equity Line of Credit (HELOC) or a Bridge Loan. HELOC loans allow you to borrow against your home, giving you access to money based on your home’s value.

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Purchase and sale agreement Marketing Equity Loans 80

HomeLight

APRIL 21, 2022

After listing your home for sale, you eagerly, nervously … anxiously await the news that someone wants to buy it. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Eventually, the call comes.

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Inspection contingency Home sale contingency Pre-approval Agents 102

HomeLight

MAY 24, 2021

Home sales have skyrocketed, and home inventory is historically low. In a hot market, a seller is unlikely to really consider your offer if you aren’t already preapproved for a loan. Ask your agent specifically about list-to-sales-price for those comps — how much the house was listed for and how much it actually sold for in the end.

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Pre-qualification Pre-approval Purchase and sale agreement Loans 100

HomeLight

MARCH 28, 2022

Simple Sale provides cash offers for homes nationwide for when a traditional listing doesn’t work. Home equity is a homeowner’s financial stake in their property that they own free of their mortgage loan obligation.). You might consider a sale-leaseback agreement for a few weeks, she suggests. Get Estimate.

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Purchase and sale agreement Equity Agents Staging 108

HomeLight

MAY 24, 2022

Sales of existing homes fell for the second consecutive month by 2.7% Sales dropped from March 2021 in all four major US regions. Prices in March 2022 were 15% higher than a year before for existing home sales. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process.

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Pre-approval Equity Agents Closing costs 98

Redfin

FEBRUARY 2, 2021

A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. 1) Get Pre-Approved for a Home Loan. If you pay in cash the sale can also happen quickly and, overall, lead to a smoother home sale. What is a Seller’s Market? However, even if the U.S.

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Pre-approval Purchase and sale agreement Marketing Inspection contingency 66

HomeLight

APRIL 19, 2021

to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits. Inspections & attorneys. Sellers appreciate cash offers because of their faster timelines, as there’s no need to wait for a mortgage loan.

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Earnest money deposit Inspection Due diligence Agents 60

HomeLight

APRIL 29, 2021

An ample supply (lots of homes for sale) and limited demand (fewer buyers) leads to a buyer’s market. Conversely, lack of supply (fewer homes for sale) and abundant demand (lots of buyers) results in a seller’s market. It can affect: How you prepare your home for sale. Too few resale homes for sale. Home prices rise.

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Marketing Sales Agents Construction 107

HomeLight

OCTOBER 12, 2020

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. Price matters but, like, we’ve actually had a sale fail, so, like, these guys just want someone who’s sure and they wanted to close.” I’ve gonna give them free rent back.

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Agents Inspection Inspection contingency Pre-approval 97

HomeLight

MARCH 22, 2021

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. Price matters but, like, we’ve actually had a sale fail, so, like, these guys just want someone who’s sure and they wanted to close.” I’ve gonna give them free rent back.

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Agents Inspection Inspection contingency Pre-approval 70

HomeLight

OCTOBER 5, 2020

But then again, with some new listings, if the price, location, and condition are right, the sale kind of is like an auction, isn’t it? You might have a $490,000 house and you have a $500,000 cash offer, and then you have like a $550,000 VA loan with 0% down offer. Woman: Last chance to you all, 1, 2, 3, and you win that.

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Agents Backup offer Inspection Closing 74

HomeLight

MARCH 15, 2021

But then again, with some new listings, if the price, location, and condition are right, the sale kind of is like an auction, isn’t it? You might have a $490,000 house and you have a $500,000 cash offer, and then you have like a $550,000 VA loan with 0% down offer. now with the lady and now 700. But what about the flip side?

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Agents Backup offer Inspection Closing 77