Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. This largely comes down to the reason the loan was not approved.

Loans 133

Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. ” Step one: Talk to a few buyer's agents!

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Source: Ice Mortgage Technologies , Data for Sept. Average time to close.

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Closing Purchase and sale agreement Pre-approval Inspection 113

Realty Biz

JULY 1, 2023

Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. Step 1: Initiating the Transaction Learning about escrow and initiating the process is an important step that occurs once the buyer and seller have agreed upon the terms of the home purchase.

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Purchase and sale agreement Earnest money deposit Title search Pre-approval 77

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” What is in the sales contract that an appraiser actually needs to see?

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Sales Purchase and sale agreement Pre-approval Development 64

Toronto Realty Blog

APRIL 18, 2022

But the point I’m trying to make today is that you can seemingly make a market out of anything. by WATA, which not only sold for $870,000 last year, but which is now being offered for sale again at a reasonable $1,305,000. You can make a market out of anything. And what if that savings could be conveyed in a sale?

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Fixed-rate mortgage Mortgages Purchase and sale agreement MLS 91

Redfin

FEBRUARY 2, 2021

What is a Seller’s Market? A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. A seller’s market usually results in rising home prices and stiffer competition among homebuyers. How has the pandemic affected the market?

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Pre-approval Purchase and sale agreement Marketing Inspection contingency 64

Real Trends

SEPTEMBER 27, 2022

As fewer sellers list their homes , mortgage rates soar past 7% and the housing market slows to a crawl , Realtor confidence has plummeted, according to the latest survey by the National Association of Realtors. The report also found that homes listed for sale received an average of 2.8 offers, down from 3.4 offers in June 2022.

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Purchase and sale agreement Pre-approval Inspection Agents 80

Redfin

DECEMBER 6, 2023

Purchasing a home in New York marks a monumental step, unveiling a rich tapestry of choices across its dynamic neighborhoods and bustling boroughs. This Redfin article will delve into the intricacies of buying a house in New York, guiding you through this vibrant and fast-paced market. What’s it like to live in New York?

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Purchase and sale agreement Pre-approval Closing costs Sales 60

Point2Homes

JANUARY 31, 2023

Making an attractive offer is crucial, especially in a hot market. With a budget in place, your next step should be to get pre-approved for a mortgage. Without being pre-approved, you’ll need to delay your offer while you secure financing. So, take your time and ask your real estate agent for advice.

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Earnest money deposit Purchase and sale agreement Pre-approval Inspection 98

HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. Mortgage companies require an appraisal to determine the value of a home.

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Purchase and sale agreement Proof of funds Backup offer Finance 104

Realty Biz

JANUARY 29, 2021

2021 has continued to be frustrating for first time home buyer in Massachusetts as well as many of the metro markets throughout the country. While some areas are shoeing signs of the market weakening popular metro areas are continuing along the same vein as 2020. What Is Driving The Market in 2021? Be Prepared.

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Marketing Purchase and sale agreement Inspection Pre-approval 119

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). The Simple Sale process frees you of the hassle of staging your home and jumping through hoops for the buyer’s lender. Listing price.

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Purchase and sale agreement Home sale contingency Title search Inspection 98

Toronto Realty Blog

JUNE 2, 2021

I have a RECO complaining pending for a blog I wrote last month about transparency in the market, which I find highly ironic, since the mere notion that somebody is complaining about my transparency demonstrates how the old-guard of real estate is trying to keep everything in this industry hush-hush. Not in our market.

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Pre-approval Inspection Purchase and sale agreement Due diligence 96

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. The best way to help avoid mortgage loan setbacks is to get preapproved for one before even submitting an offer. Easy, right?

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Closing Purchase and sale agreement Title search Earnest money deposit 116

First Team Real Estate

DECEMBER 7, 2020

Here’s how to review details in a tidy, orderly manner so you can make sense of your home sale. Amidst a continuous pandemic, seller’s markets are still holding strong throughout the nation. Speed: How quickly does the purchaser wish to move? Numerous deals consist of an expiration date set by the purchaser.

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Purchase and sale agreement Pre-approval Title Backup offer 98

HomeLight

JANUARY 3, 2023

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Real estate transfer taxes: 0.01%.

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Purchase and sale agreement Inspection MLS Inspection contingency 110

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. To determine your home’s equity, you first need to assess your property’s fair market value.

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VA loan Purchase and sale agreement Short sale Pre-approval 81

HomeLight

JUNE 21, 2022

But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal. It’s critical to know what home inspectors look for because serious problems could derail the sale altogether. What is a home inspection?

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Inspection Purchase and sale agreement Pre-approval Inspection contingency 120

Windemere Selling

MARCH 14, 2022

This is why many sellers find a pre-listing inspection to be beneficial: it provides transparency about the home’s condition ahead of time and can help to streamline the buying process, which can be especially helpful when selling in competitive markets. As a seller, it’s important to be transparent in listing any issues with the home.

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Purchase and sale agreement Home sale contingency Inspection contingency Pre-approval 52

Redfin

AUGUST 21, 2020

Purchasing your first home is a big move. For some, it represents the independence they’ve been striving for, while others see their home purchase as a path to financial security and a way to create a safe haven for their family. . Second, take some time to understand the local housing market. The home offer process.

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Pre-approval Purchase and sale agreement Inspection Title 76

Redfin

AUGUST 3, 2023

Georgia housing market insights The Georgia housing market has experienced some notable recent changes in demand and supply. Despite this shifting demand, the median sale price has continued its steady ascent, increasing by 1.3% Check out this article to learn more about the pros and cons of living in Georgia. year-over-year.

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Purchase and sale agreement Pre-approval Debt-to-income ratio Loans 55

Realty Biz

JUNE 7, 2021

In most Real estate markets, the average time to close on a house from start to finish is 45-60 days. Credit Unions and large banks sometimes take a bit longer than other mortgage lenders. The mortgage lender, home inspection process, and appraisal process can all bear the time frame for the closing. Final walk-through.

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Closing Purchase and sale agreement Inspection Title 123

Redfin

SEPTEMBER 17, 2020

How much you can negotiate on a house depends on one main factor, which drives everything else: the state of your local real estate market. . An experienced real estate agent should have a deep understanding of local market dynamics and be a master negotiator, that’s what real estate agents do every day.

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Pre-approval Purchase and sale agreement Closing costs Inspection 70

HomeLight

MARCH 31, 2022

The seller’s market continues to boom in Florida. Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% drop in median time on the market. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Florida. Get Started.

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Purchase and sale agreement Inspection Title MLS 103

Redfin

JUNE 29, 2023

However, navigating the homebuying process in Michigan requires careful consideration of factors such as location, market conditions, financing options, and legal requirements. If you’re a first-time homebuyer and want to know more about the market, Redfin has your back. What’s it like to live in Michigan? year-over-year.

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Pre-approval Purchase and sale agreement FHA loan Closing costs 50

Point2Homes

JULY 28, 2020

Put simply, escrow is a legally binding arrangement in which a third party takes custody of sums of money, deeds, and documents, until a specified agreement is reached between two parties. The first is during the purchase process and is typically referred to as escrow. Escrow During the Purchase Process. Here’s how it works.

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Purchase and sale agreement Mortgage pre-approval letter Earnest money deposit Pre-approval 57

Redfin

MAY 5, 2023

An overview of the Texas housing market The Texas housing market is rich in diversity, with plenty of options to suit different budgets and lifestyles. However, due to the recent hike in mortgage rates, the market has experienced a slight decline, with median sale prices dropping by 2.5%

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Purchase and sale agreement Pre-approval Seller disclosure Earnest money deposit 64

Windemere Buying

JUNE 22, 2022

You can accept or reject the counteroffer or come back with a counteroffer of your own, which may continue for multiple rounds until the two parties reach an agreement. Once the purchase agreement is signed, it becomes legally binding. In return, the seller agrees to take the home off the market.

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Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

Realty Biz

JANUARY 12, 2021

It’s about working with a professional agent to narrow your search and help you navigate through the purchase process. It means proving you are pre-qualified for a loan before you know what house you might buy. Once you have an offer accepted, a whole new set of people start looking at the agreement to see if they approve.

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Purchase and sale agreement Pre-qualification Pre-approval MLS 70

Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. By far, one of the biggest nightmares is that the mortgage falls through on the closing day.

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Closing Title search Purchase and sale agreement Title 62

The Close

DECEMBER 15, 2023

Because investors continue to buy and sell properties regardless of whether it is an up or down market , it’s always a good time to work with investors. The key for investor-friendly agents is to find the right real estate investors who will consistently close deals in any economic conditions and in your local market.

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Investor Marketing Purchase and sale agreement Agents 73

Realty Biz

AUGUST 2, 2023

Effective marketing strategies, such as crafting an appealing listing description and utilizing professional photography, can also significantly impact the process. Additionally, understanding the closing process and utilizing additional resources and tools can streamline the sale. Overcoming common challenges is also vital.

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Purchase and sale agreement Title Staging Inspection 94

Toronto Realty Blog

JUNE 15, 2022

The real estate market has changed over the last two months and more change is afoot. Today, I want to narrow the focus of change to discuss closing dates in our real estate market, because while we could discuss change in a dozen areas pertaining to real estate, I think it’s better to take deep dive on one topic at a time.

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Closing Purchase and sale agreement Pre-approval Agents 75

HomeLight

AUGUST 16, 2021

Plus, if you do decide to take the leap, you’ll be ready to tackle your home purchase like a pro. Are you prepared for the responsibilities of home maintenance, mortgage payments, and everything else that comes along with homeownership? Research your market. How quickly do homes move off the market?

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Closing costs Purchase and sale agreement Inspection Loans 104

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Source: (LinkedIn Sales Solutions / Unsplash). Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage.

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Loans VA loan FHA loan Purchase and sale agreement 103

Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% The inspection contingency allows the buyer to cancel a purchase or request repairs if they find an issue during the inspection period. Active listings—the count of all homes that were for sale at any time during a given month— dropped 20.7% In June, 19.9%

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Inspection contingency Inspection Purchase and sale agreement Pre-approval 59