Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

Marketing 535

Marketing Option period Lending Loan Officer 535

HomeLight

SEPTEMBER 16, 2022

Before inspections, you may fear the state of the home or the seller’s willingness to negotiate repairs if the home needs serious work. In the state of Texas, an “option period” allows a buyer to get these details before making the final choice. What is an option period? When does an option period begin?

Option period 110

Option period Earnest money deposit Due diligence Inspection 110

HomeLight

MARCH 7, 2024

Contingencies: Conditions that must be met for the sale to proceed, such as home inspections, financing approval, and the sale of the buyer’s current home. Appraisal concerns: If the property appraises for less than the offer price , it can jeopardize financing, prompting buyers to back out. What is an option period?

Purchase and sale agreement 116

Purchase and sale agreement Earnest money deposit Option period Inspection 116

HomeLight

MAY 24, 2022

Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. A cash buyer can skip everything related to a mortgage, from the home appraisal to income verification, which saves them a ton of time. Appraisal: 15 minutes to 5 days.

Purchase and sale agreement 111

Purchase and sale agreement Closing Title search Title 111

The Close

JANUARY 16, 2025

The terms of the rent-to-own contract outline the purchase price, the option period (when the tenant can exercise the option to buy), rent premiums, financing terms, and option fees. Order an independent appraisal, perform a property inspection, verify up-to-date property taxes, and check for any liens.

Purchase and sale agreement 98

Purchase and sale agreement Investor Finance Equity 98

RIS Media

AUGUST 17, 2021

“We’re seeing buyers waiving everything, from appraisals, option periods and inspections,” says Riley, who notes that cash isn’t even winning these days. With 15 years of experience in the business, Riley launched her career in Atlanta before settling in Texas in 2008.

Marketing 98

Marketing Option period Closing costs MLS 98

HomeLight

MARCH 13, 2023

Speed: One of the biggest benefits is a fast sale, as cash buyers are able to close the transaction quickly without the delays often associated with traditional home sales, such as waiting for financing approval or appraisal. The buyer does due diligence during the option period in California, which is typically one to 10 days.

Sales 105

Sales Purchase and sale agreement Inspection Due diligence 105