Redfin

JUNE 21, 2023

Explore your loan options When buying your first investment property, it’s essential to explore the available loan options. Understanding and comparing mortgages, government-backed loans, and private financing can greatly impact your financial success.

Due diligence 57

Due diligence Earnest money deposit Investor Inspection 57

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 92

Sales Purchase and sale agreement Due diligence Inspection 92

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 71

Sales Investor House Flipping Pre-approval 71

HomeLight

MARCH 13, 2023

Joseph has encountered active military who recently purchased homes with a VA loan, but got orders to ship out only to find that their home hadn’t appreciated much in a short time. You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises.

Sales 82

Sales Investor Due diligence Renovation 82

HomeLight

MARCH 16, 2023

More certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few contingencies, or no contingencies at all. So you won’t be holding your breath until the buyer’s loan approval comes through or be on the hook for needed repairs discovered during the home inspection.

Sales 67

Sales Purchase and sale agreement Earnest money deposit Investor 67