HomeLight

MARCH 13, 2023

With the strong Florida sun shortening the lifespan of roofs and air conditioning systems, costly renovations may be necessary. A cash buyer relieves them of the headaches of renovating and listing the property. Many people who contact Reiner have older homes that haven’t been updated. For a rental, not as much,” explains Joseph.

Sales 75

Sales Investor Due diligence Renovation 75

HomeLight

MARCH 13, 2023

They may want to avoid the 6% interest rate of a loan by buying with cash. Flexible closing date: While closing typically takes place faster with a cash buyer than with a traditional loan-backed sale, Speed points out that sellers may need to wait a little longer before closing. No pre-qualifying for a loan.

Sales 65

Sales Investor House Flipping Pre-approval 65

HomeLight

SEPTEMBER 30, 2020

The Federal Housing Administration (FHA) is part of HUD’s Office of Housing, and it guarantees certain mortgage loans for lenders by providing mortgage insurance on loans for borrowers who may not qualify for a conventional mortgage ; the lenders in turn provide those mortgages to homebuyers.

Earnest money deposit 73

Earnest money deposit FHA loan Pre-approval Finance 73

HomeLight

FEBRUARY 3, 2022

A cash buyer will offer the entire amount for the house with no mortgage or other type of financing involved. This eliminates the processing of a buyer’s loan and home appraisal, which are typically the two most time-consuming steps in the home sale process. Refresh (don’t renovate) your home.

Pre-approval 95

Pre-approval Staging Agents Proof of funds 95

HomeLight

JULY 31, 2021

They can purchase a property at a discount, providing value through a quick sale to the owner, and leverage their funds and expertise toward a profitable renovation. If the whole house has been renovated recently and the seller wants full market value, they’re typically better off working with an agent.”. Good bones.

Earnest money deposit 98

Earnest money deposit Inspection Inspection contingency Proof of funds 98

HomeLight

MARCH 16, 2023

They sign the lease just a couple of weeks after the home is renovated and ready for occupancy. He routinely works with multiple crews of contractors so he completes renovations at a lower cost and with fewer headaches than most homeowners. He buys homes for cash, fixes them up, obtains refinancing, and then rents them out.

Sales 62

Sales Purchase and sale agreement Earnest money deposit Investor 62

HomeLight

FEBRUARY 16, 2023

The company’s website notes they take pride in improving local communities by renovating homes. House Heroes further vets itself by providing a proof of funds bank statement. That includes an average of 70 days listed on the market until a signed contract, plus the typical 54 days a buyer needs to close on a purchase loan.

Purchase and sale agreement 76

Purchase and sale agreement Closing costs Closing Investor 76

HomeLight

APRIL 13, 2023

Chandler notes that a seller will get the highest return by renovating kitchens and bathrooms, but something as simple as a paint job can also make a huge difference. Your contract might read a 50-50 split of closing costs, but those don’t include any additional loan costs, which must be covered by the buyer.”

MLS 80

MLS Agents Sales Mortgage pre-approval letter 80

HomeLight

NOVEMBER 21, 2022

In addition, Johnson explains, “You need to know that the loan is good, or they have the cash in the bank if they’re paying cash.”. Here are key considerations when considering an offer on your Louisiana home: Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds. Interested in such expertise?

MLS 80

MLS Agents Sales Land 80