Redfin

AUGUST 6, 2025

The truth is, the timeline for buying a house can vary due to a number of factors like financing needs, if it’s a buyer’s or seller’s market, the time of year, and the type of home you’re searching for. Your agent should be able to recommend a title company. They’ll be aware of housing market trends and potential red flags.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

You need to understand the ins and outs of the local property market. But studying the market is not enough. Then, you should engage the services of a real estate agent who is familiar with the local market and can help you find suitable properties. To be successful, you must also consider your financial position.

Purchase and sale agreement

Redfin

JULY 9, 2025

Determine your budget Estimated time: 2-4 weeks Before jumping into your home search the first step is to determine how much you can afford. The right agent will have expertise on the housing market , understand the area inside and out, be familiar with local listing agents, and know how to negotiate.

Pre-approval

Redfin

FEBRUARY 20, 2025

However, there are some costs associated with selling your home, like repairs, staging, and pre-listing inspections, that may also need to be paid before closing. In competitive markets, offering to cover some or all of the buyers agents fee may help attract more buyers. How much are closing costs for sellers?

Closing costs

Redfin

JANUARY 28, 2025

Whether you’re looking at homes in Salt Lake City or considering properties in another competitive market, like homes in Charlotte , assumable mortgages can be a smart move in the right situation. Inspection & repair costs: Before assuming the loan, have a home inspection done to assess the propertys condition.

Loans

Redfin

AUGUST 5, 2025

Buying a home can be a stressful, lengthy process, especially if your area is experiencing a seller’s market where there are more buyers looking to purchase than there are homes for sale. In a seller’s market, the demand for housing exceeds the supply. What does ‘no contingency’ mean?

Earnest money deposit

Redfin

AUGUST 5, 2025

That’s particularly true if you pay below the market price. How to handle a gift of equity A gift of equity is when someone sells a home to a family member for below market value. Legal and tax implications If you’re buying your parents’ house below market value, there could be legal and tax implications.

Purchase and sale agreement

Redfin

JULY 11, 2025

Title issues are discovered If the title search uncovers ownership disputes, liens , or unresolved legal claims on the property and the title can’t be cleared, the buyer can cancel the contract under a title contingency and get their earnest money refunded.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Every real estate market is different, therefore, the best time to sell a home will be different from real estate community to real estate community. For example, the spring market in the Webster, New York real estate community maybe April, May, and June while the spring market in Coral Springs, Florida maybe March & April.

Purchase and sale agreement

Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Home Inspection. Have you budgeted for closing costs?

Inspection

Housing Wire

APRIL 11, 2023

This is especially important in today’s fast-paced real estate market, where time is of the essence. What is a title in the context of real estate? In real estate, a title is a legal document that establishes ownership of a property or asset. Once an offer is made and the purchase agreement is completed, the escrow is opened.

Title search

Realty Biz

DECEMBER 15, 2021

When you’re buying a home, you’ll need a title search so that you can get title insurance. Title searches can also reassure buyers, making sure there is a smaller chance of problems with the title later on. We will take a look at the things you need to know about a title search and how it works.

Title search

Housing Wire

OCTOBER 29, 2021

We continually monitor volumes, market nuances and industry trends to ensure our products – and our staff – meet our clients’ needs. We’ve secured calendar availability from our notary panel at month-end, providing unrestricted closing capacity in many of our lenders’ top markets.

Title

RIS Media

APRIL 8, 2022

Homes that are listed as pending or sold are officially off the market. . Other factors can also put a home back on the market. Appraisals that are lower than expected may put a home back on the market. Home inspection problems. The title search reveals issues. The title needs to be clean.

Debt-to-income ratio

HomeLight

OCTOBER 30, 2020

For example, let’s say the market crashes, and your 401(k) loses a huge amount of value overnight. Problems come up during inspection. However, an inspection contingency will often be used by any buyer, whether they’re using financing or paying cash. But understand that inspections can delay the deal.

Closing

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. It’s rarely advisable to waive an inspection contingency. Your home inspection reports. Bring the necessary documentation to closing.

Closing

Realtor.com

NOVEMBER 15, 2022

This means navigating the highs and lows of the real estate market and strategizing ways to improve the terms of the deal on the table. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees.

Seller concession

HomeLight

MAY 24, 2022

In a competitive market, paying cash could help you beat out other homebuyers. Many companies combine title and escrow services under one roof, as their functions are closely interrelated. Your agent can help you find a title company to handle the title search, and title insurance, which is always recommended.

Purchase and sale agreement

HomeLight

JULY 12, 2024

Here’s what you can expect: Title search: Verifying the property’s legal ownership and any existing liens or claims. Home appraisal: Assessing the property’s market value to ensure it aligns with the purchase price. Home inspections: Conduct a thorough inspection of the property to identify any issues that need addressing.

Purchase and sale agreement

HomeLight

JANUARY 5, 2022

Now you can skip the part where you stage, show, and market the house, which makes you want to do a little happy dance. An agent won’t need to offer their full level of service to include yard signs, digital marketing, and professional photography, but they can act as a neutral go-between to prevent strain or awkwardness during negotiations.

Pre-approval

Norada Real Estate

APRIL 15, 2023

Home Inspection Contingency One of the most common contingencies that can affect the length of the under-contract period is the home inspection contingency. This contingency allows the buyer to have the home inspected and negotiate repairs or credits with the seller. Factors that Affect the Length of Under Contract A.

Earnest money deposit

HomeLight

JULY 31, 2022

Spend some time in the neighborhood where you want to live, make friends at a coffee shop or favorite local restaurant, discuss your home search, attend open houses, and even send letters to homeowners asking if they’re willing to sell. Common contingencies include: Inspection contingency. Contingencies. Appraisal contingency.

Earnest money deposit

HomeLight

NOVEMBER 9, 2021

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). That said, the number of days your home is on market depends on several factors, such as: The location of your home. Days on Market.

Purchase and sale agreement

HomeLight

MARCH 2, 2023

Henderson says that while connecting with a reputable agent who knows the San Diego market is important, one thing potential buyers should be sure to do is to align themselves with a great lender. The San Diego real estate market tends to follow seasonal trends, with prices rising after the holidays and into the summer.

Closing

CT Homes

JULY 6, 2020

Getting from the loan application to closing has multiple steps including the appraisal, application review, title search, homeowner’s insurance, condition review and closing document distribution. Inspections. A typical first step once a financed offer is accepted is the home inspection. Buyer Finding a Better Option.

Finance

HomeLight

JUNE 23, 2022

However, if the buyer terminates the contract for any other reason not specified in these conditions, the seller is typically entitled to keep the earnest money as a concession for the time they took the home off the market to enter into the exclusive agreement. Suppose the inspection uncovers issues that are unacceptable to the buyer.

Earnest money deposit

HomeLight

NOVEMBER 10, 2021

And it’s typical for sellers to pay that fee within the current real estate market. Third-party appraisal ($400-$600): If the buyer is using a mortgage to purchase the home, the lender will require a third-party appraisal to confirm the home’s fair market value and determine what they’re willing to lend. Title fees (1%).

Closing costs

HomeLight

OCTOBER 20, 2022

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. A professional appraisal will help determine the listing price based on fair market value. Comparative Market Analysis. Preliminary title report.

Purchase and sale agreement

HomeLight

AUGUST 24, 2022

The destination’s great weather and tax-friendliness bring a steady stream of buyers to the market, and cash buyers help make sellers’ homes fly. This is another area where a top agent can help you tap into the out-of-state market. Going in, you should know that cash buyers tend to offer a lower price than buyers on the open market.

Purchase and sale agreement

HomeLight

SEPTEMBER 1, 2022

With the current shifting market, financing is heavily looked at, and there’s a preference for a local lender that understands the process here.”. Research the market and determine where you would like to buy. In competitive markets, cash offers could be more likely to be accepted by sellers with multiple interested buyers.

Earnest money deposit

HomeLight

MARCH 6, 2023

The benefit of owning a house far outweighs what might be considered a higher interest rate in the current market.” Research the market and determine where you would like to buy Now that you know more about preparing to purchase a house and down payments, it’s time to decide where you want to live.

Earnest money deposit

HomeLight

JULY 26, 2022

For sellers in neighborhoods with many recently sold homes, it can be easier to determine what their asking price should be based on estimated market value. The housing market can also play a role in the seller deciding to sell the home themselves. One of the benefits of hiring a listing agent is their marketing expertise.

Earnest money deposit

Realty Biz

APRIL 20, 2022

Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. When the home inspection finds some problems, the seller might agree to cover the cost and have the problem fixed. Home sale contingency clauses are more common in buyer’s markets.

Purchase and sale agreement

HomeLight

JANUARY 31, 2025

This is often used as an incentive in competitive markets or when buyers need assistance covering expenses. The commission is usually a percentage of the homes sale price, and while rates vary by market, these fees are a standard part of most real estate transactions. Are agent commissions a closing cost?

Closing costs

Realty Biz

AUGUST 22, 2022

Here are a few of those potential additional costs: Home Inspection Fee. They will come and inspect the property to make sure that it is in good condition and that there are no major problems. Many people will try to avoid getting a home inspection in order to save money. Home Appraisal Fee.

Inspection

HomeLight

NOVEMBER 9, 2021

Title search. A title search ensures that the property has no liens, judgments or other claims from outside parties (or “encumbrances”) on it that would prohibit a sale. Most states require a title search to legally purchase a property. Concessions often arise after a home inspection. Attorney fees

Closing costs

HomeLight

APRIL 20, 2023

Typically, buyers are responsible for mortgage and inspection-related costs, and sellers are responsible for agent and documentation-related costs. For example, a motivated seller might consider covering part or all of the inspection and appraisal fees for a buyer in order to help close the deal.

Closing costs