HomeLight

AUGUST 4, 2022

You have options, such as a rent-back agreement, aka, a lease-back deal, that would allow you to stay in the home you just sold a bit longer to give you time to find a new place, to wait for the next home to be built , or to let your children finish the school year. What is a rent-back agreement?

Rent back 97

Rent back Purchase and sale agreement Closing Renovation 97

Housing Wire

AUGUST 10, 2023

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants. I rented back to the previous owner, and they are still the tenant.

Renovation 336

Renovation Development Rent back Principal 336

HomeLight

DECEMBER 15, 2022

Avoid mentioning plans to remodel or renovate. Avoid mentioning any plans to remodel or renovate the home in your offer letter. It’s a preapproval letter that indicates your lender has put your potential loan through the underwriting process. This signals to the seller that there’s a much higher likelihood the loan will close.

Inspection 90

Inspection Closing Rent back Agents 90

The Close

FEBRUARY 6, 2024

They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. That may sound like a lot to add, but when your buyers roll it into their mortgage, it should not change their monthly payment so much that it prevents them from qualifying for their loan.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

AUGUST 31, 2021

A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. Though you can (and should!) The inspection.

Due diligence 76

Due diligence Inspection Pre-approval Pre-qualification 76

HomeLight

MAY 24, 2022

Dodging the hassle and expense of making renovations is a significant advantage if you have an older home or you’ve inherited property in another state. Ask buyers to rent back if you need more time to find the right property or rent another home until you do. Waiting to sell if you recently refinanced.

Pre-approval 98

Pre-approval Equity Agents Closing costs 98

HomeLight

FEBRUARY 4, 2022

While it’s true that a home purchased with a mortgage loan will be evaluated by an appraiser before all is said and done, there’s more to a fair price than a bank’s willingness to loan money. What if you could sweeten the deal for a seller by offering them a rent-back clause ? Is the price right? An agent will know.

Agents 93

Agents Purchase and sale agreement Due diligence Inspection 93