Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? A licensed appraiser conducts the evaluation and considers the condition of the property, the location and sales of comparable properties (comps) in the area. Mortgage lenders want to make sure the property is worth the sale price.

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Housing Wire

JANUARY 31, 2021

Clear Capital’s suite of field valuations, real estate analytics, and platform technology solutions help servicers prevent fraud, check the accuracy of completed appraisals and broker price opinions (BPOs), conduct portfolio valuation analysis and updates, and help with disposition analysis on distressed loans.

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Realty Biz

DECEMBER 31, 2020

How to Prepare For a Home Inspection. Before you can prepare for your move, you need to get ready for the home inspections. Preparing for a home inspection will make sure your home sale proceeds as smoothly as possible. Lots of home sellers ask real estate agents how they can prepare for the home inspection.

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Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. HW: What are the risk management challenges for REO assets?

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Realty Biz

JANUARY 7, 2021

The fact is that another round of negotiations is frequently needed after the house is professionally inspected. Nor should the inspector be involved in a second round of negotiations after the inspection. Risks of Waiving a Home Inspection. Even a strong sellers’ market is not a good reason to waive a home inspection.

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Realtor.com

FEBRUARY 5, 2021

But before the sale is closed, you will need to clear several hurdles, one of which may be a termite inspection. While only a few states require it—and there is no federal law that mandates a termite inspection when buying a home—you might want to think twice before skipping it. Your lender may require it.

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RIS Media

APRIL 14, 2022

Your mortgage lender might not require you to have a house inspected before you buy, but it’s probably still a good idea. What Is a Home Inspection? A home inspection is designed to protect a buyer. Do You Have to Get a Home Inspection and an Appraisal? Buyers often assume that a home inspection is required.

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Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. However, they have several more pressing priorities when it comes to what they’re investing in.

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Realtor.com

DECEMBER 29, 2020

My smooth path to homeownership suddenly became rocky when the inspection report came back with a big fat failure on it. After a few calls with my real estate agent (who, at that point, had become more of a home-buying therapist), I learned that a bad inspection isn’t that rare. Most inspection issues are small.

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HomeLight

FEBRUARY 23, 2024

From sudden job relocations to financial strains or even the decision to downsize, the need for a quick home sale in Savannah can present both challenges and opportunities. Job relocation: A fast home sale can simplify your move for a new job opportunity or a transfer to a different office. No showings, no repairs, no open houses.

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Housing Wire

NOVEMBER 7, 2023

For Sale By Owners are the same. Loop your buyer’s lender into the mix and have coffee with your buyer clients and the loan officer to discuss loan options that meet their goals. Manage the inspection process so they don’t freak out over small items. Be a matchmaker. This is where being proactive matters.

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Broke Agent Media

MARCH 30, 2023

BAM Key Details: According to the National Association of REALTORS, pending home sales for February 2023 are up for the third consecutive month, rising 0.8% An index of 100 is equal to the level of sales contract activity in 2001, when NAR began tracking the data. While some sales fall through, for one reason or another (e.g.,

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HomeLight

AUGUST 23, 2021

Now it’s time to start moving through the process of finalizing the sale, which includes getting an inspection of the property. While they aren’t necessarily required by your mortgage lender, a home inspection is an important part of your home purchase. But how long will this inspection take? What is a home inspection?

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HomeLight

MARCH 31, 2021

The home inspections process is often one of the greatest obstacles to closing a swift sale. If the inspector finds issues with your property, your buyer can leverage these findings to negotiate a lower price or even walk away from the sale. Thankfully, you can take a proactive approach with a pre-listing home inspection.

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Housing Wire

JUNE 27, 2023

. “We’re elated to partner with Reggora’s modern appraisal management platform, which has a well-documented open API that makes integrations easy to maintain,” said Brent Emler , director of sales at Lender Toolkit. “We are excited about the integration of our platform with Lender Toolkit’s AI Underwriter.

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Mortgages Inspection Loans Technology 275

CT Homes

APRIL 18, 2024

If you find yourself in a tough financial spot, it’s crucial to understand your options, particularly when it comes to a short sale vs foreclosure. This can make it difficult to purchase a new home, obtain loans, or even secure housing rentals. What is a Short Sale? Get an easy, no-nonsense cash offer for your property today!

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Redfin

AUGUST 26, 2020

A savvy homebuyer will schedule a home inspection for any home they’re serious about buying. In case you’re thinking of waiving the home inspection contingency, you should also be aware that some lenders require a home inspection as a necessary step before they finalize your home loan. Local laws.

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Redfin

OCTOBER 10, 2023

In this dynamic setting, the process of home inspection becomes a journey through layers of historical significance and modern innovation that define a property. So, let’s delve into the world of home inspections in the Empire State. Why should you get a home inspection in New York? Well testing for certain loans.

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Hank Miller Team

NOVEMBER 22, 2022

There are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. These tend to be seen with high quality buyers and low loan to value transactions. What is a Home Inspection? Every situation is different.

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HomeLight

MAY 8, 2024

As is” is a type of home sale where it’s understood that no improvements will be made to the property. An as-is sale may also indicate that the functionality and longevity of specific home components, such as the water heater or the roof, are in less than perfect condition and may need considerable repair.

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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.

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Keeping Current Matters

SEPTEMBER 15, 2021

Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. Speed and the pace of sales are contributing factors to today’s competitive housing market.

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Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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Realty Biz

SEPTEMBER 11, 2023

However, not all homes under contract successfully transition to a successful sale. Under Contract When a home is "under contract," the buyer and seller have agreed on the terms of the sale, but the transaction has not yet been completed. Many sales will never make it to the closing due to various contingencies.

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HomeLight

JANUARY 31, 2024

You can then make a strong offer on your next home with no home sale contingency. In real estate, when a house is listed as “ contingent ,” it means the sale of the property is conditional upon certain criteria being met. Inspection contingency: This gives the buyer the right to have the property inspected within a certain timeframe.

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HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

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Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded You’re on the hook for mortgage insurance for the life of the loan.

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FHA loan Loans Inspection Renovation 91

HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” In this post, we’ll explain terms like “under contract,” “sale pending,” and “active under contract” and how they might impact your home-buying journey.

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Real Trends

DECEMBER 27, 2022

How often does a pending home sale fall through? A pending sale may be referred to as “under contract” by some real estate agents. A sale is considered pending until the seller formally accepts an offer from a buyer. It should be reassuring for all real estate agents that not many home sales fall through.

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HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? Source: (Freedomz / ShutterStock).

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HomeLight

MARCH 31, 2022

But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. Financing contingency: Even if you are preapproved for a mortgage loan, you may run into a problem getting a loan approved for a specific property.

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HomeLight

MARCH 7, 2024

A home purchase agreement , often referred to as a real estate contract, is a legally binding document between a buyer and seller outlining the terms of a property sale. Sale price and terms: The agreed-upon price for the property and the terms of the payment, including the earnest money deposit amount and financing details.

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HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

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Redfin

JANUARY 6, 2021

Just to be sure there aren’t any other pests lurking about your new house, you might want to consider getting a pest and termite inspection. Here are five reasons you should schedule a termite and pest inspection before any unwanted visitors wreak havoc on your dream home. Why should you get a pest and termite inspection?

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HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. Only 4% of real estate contracts in the spring of 2023 were terminated.

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Realtor.com

JANUARY 11, 2021

But what if you check it off your list and then, for whatever reason, the home sale falls through—who pays the appraisal fee then? So, back to the original question: When a sale falls through, who’s on the line for the fee? The post If a Sale Doesn’t Go Through, Who Pays the Appraisal Fee? Let’s take a look.

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HomeLight

JANUARY 12, 2022

Next steps include the home inspection, appraisal, and final paperwork. But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021.

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