Realtor.com

MARCH 10, 2021

When you’re ready to move forward on your homeownership journey, there can be a learning curve as you approach how to decipher mortgage-related terms and work on getting financially prepared. If you’ve done your homework and still have questions about how these terms will affect your actual search, first of all: You’re not alone!

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HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Pre-foreclosure.

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HomeLight

JULY 31, 2020

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. Problems with the title. Dodge move. How it can delay closing.

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HomeLight

JANUARY 12, 2022

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. The buyer will sign the brunt of the paperwork, especially if they are securing a mortgage. Mortgage underwriting: 30-60 days.

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Realtor.com

JANUARY 2, 2023

. “Given declining housing affordability and limited existing home inventory, a full one-third of inventory on the market is now new-construction homes,” says Robert Dietz , senior vice president and chief economist for the National Association of Home Builders. New homes lose their value faster than pre-existing properties.

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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). That said, the number of days your home is on market depends on several factors, such as: The location of your home. Days on Market.

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Redfin

AUGUST 10, 2023

A mortgage loan is often the largest and most expensive loan you’ll apply for in your lifetime. There’s one key document you’ll want to gain a solid understanding of when you’re shopping for a mortgage : the loan estimate (LE), also known as a “good faith estimate.” What is a loan estimate or a “good faith estimate”?

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Realty Biz

NOVEMBER 11, 2020

How your real estate agent markets your property when an offer has been accepted can have vital implications. They will also get their earnest money deposit back , and the home will go back on the market. Will they be marketing the home properly? Sometimes real estate markets heavily favor sellers.

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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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Realtor.com

DECEMBER 7, 2019

Monopoly: Hasbro Concept: Greg Chow In a white-hot market, you may feel pressure to make some concessions to win over a seller—and, no, we’re not talking about sending a basket of banana-nut muffins. That’s all hunky-dory in a buyer’s market. You want the house, and the seller doesn’t want any hiccups.

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Real Trends

DECEMBER 27, 2022

Before a mortgage is approved, lenders will have a property appraisal. On the buyer’s side, if a property’s appraised value is lower than the contract’s value, the mortgage may be declined; the mortgage may be approved if the buyer contributes cash up-front (to make up for the difference in value).

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Windemere Buying

AUGUST 31, 2022

In a seller’s market , competition amongst buyers is high. To sweeten their offers in such market conditions, buyers will typically waive their contingencies. Also known as a “mortgage contingency,” a financing contingency gives the buyer a specified period of time to secure adequate financing to purchase the home.

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The Residential Specialist

JUNE 23, 2020

“There’s a lot of fear about industries fully automating and kicking workers to the curb, but real estate is one of those industries that needs a human-to-human connection,” says DelRose, director of marketing for The Mike DelRose Team, a RE/MAX Revolution office in Watertown, Massachusetts. Masterful marketing.

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Point2Homes

JUNE 23, 2021

Before a property becomes an REO, it goes through several stages: Payment default: the owner of the property fails to make a payment on their mortgage loan. You will still need to check MLS listings, research the local market, consider your financing options, obtain an appraisal and inspection, make an offer , negotiate and close the deal.

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HomeLight

JANUARY 29, 2021

Or perhaps you love the house, but you can’t afford to pay the outstanding mortgage. The process of selling an inherited home is complex, including an array of financial, legal, and market ramifications. Know where the mortgage stands. As the new owner of the house, you must fully understand the status of the mortgage.

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HomeLight

JANUARY 3, 2022

iBuyers generally offer much closer to market value for homes than house flippers. An agent-assisted sale is likely to benefit from the competition of the open market in which buyers make connections with homes and often bid with their emotions. They also don’t want the hassle of renting out their old home or carrying two mortgages.

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Windemere Buying

JUNE 22, 2022

In return, the seller agrees to take the home off the market. Contact your mortgage lender to relay the final details of the purchase so you can go about securing financing. Getting pre-approved early on helps to streamline this part of the closing process.

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Redfin

JUNE 14, 2023

From market insights and the homebuying process, read on to make the jump to homeownership. North Carolina housing market insights The housing market in North Carolina is a vibrant and flourishing industry that presents potential buyers with numerous choices. If you need help figuring out where to start, Redfin has your back.

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Easy Agent Pro

NOVEMBER 12, 2021

Is this a buyer who is dragging his/her feet getting pre-approved for a mortgage? Mortgage topics: Why you don’t need 20% down to buy a home; How to shop for a lender; What is the DTI?; The steps in the mortgage process; Don’t change your financial picture until after closing; Who pays what at closing .

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Realty Biz

AUGUST 2, 2023

In my experience as a real estate agent over the last thirty-plus years, many homeowners will search " sell my house fast " for the best-selling strategy. Effective marketing strategies, such as crafting an appealing listing description and utilizing professional photography, can also significantly impact the process.

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HomeLight

JANUARY 5, 2022

Now you can skip the part where you stage, show, and market the house, which makes you want to do a little happy dance. An agent won’t need to offer their full level of service to include yard signs, digital marketing, and professional photography, but they can act as a neutral go-between to prevent strain or awkwardness during negotiations.

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HomeLight

OCTOBER 20, 2022

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Many FSBO sellers will purchase a pre-listing appraisal. A professional appraisal will help determine the listing price based on fair market value.

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HomeLight

JUNE 23, 2022

However, if the buyer terminates the contract for any other reason not specified in these conditions, the seller is typically entitled to keep the earnest money as a concession for the time they took the home off the market to enter into the exclusive agreement. In competitive markets, this contingency is very unattractive to sellers.

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HomeLight

MARCH 17, 2021

Whether you have a stable income to cover mortgage costs. The lender wants to be sure you can pay back the mortgage plus any other debts you owe, so the bank will calculate your DTI. Your debts include student loans, car loans, child support payments, and credit card bills, plus your mortgage. Figure out your budget.

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HomeLight

OCTOBER 29, 2020

Choosing a qualified agent and searching for the perfect home in terms of ideal size, location, price, and condition can already feel like a journey, but making an offer on a property is when the challenge really begins. When you use a mortgage to buy a home, your lender will need to order an independent appraisal to evaluate what it’s worth.

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HomeLight

JUNE 30, 2021

Even as an agent with over 400 homes under my belt and 11 years of experience, I would never buy in a market in which I’m not licensed without a real estate agent,” says Jessica Arledge , a top agent who works with over 76% more single-family homes than the average Savannah agent. Be careful with this one, though!

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Redfin

SEPTEMBER 14, 2023

Oregon housing market insights The Oregon housing market reflects a mixed landscape in recent times. Cities like Bull Mountain , Oak Hills , and Oatfield stand out as some of the most competitive in the state’s housing market, where buyers face stiff competition in their quest for a new home. year-over-year.

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HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. The benefit of owning a house far outweighs what might be considered a higher interest rate in the current market.” The amount of financial assistance available depends on the type of mortgage loan you use.

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Realtor.com

OCTOBER 29, 2020

Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Clear the title. Get final mortgage approval.

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HomeLight

MARCH 13, 2023

Perhaps your Metro West resort-style condo isn’t bringing in the revenue you expected as a vacation rental and you don’t want to invest more money to list it on the market. Expanding population and job market fuel rental growth Greater Orlando’s population of 2.67 Need to Sell Your House Fast in Orlando? million people by 2030.

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Redfin

APRIL 21, 2023

From beachfront condos to suburban single-family homes, the state’s diverse real estate market can make deciding where to start your search challenging. An overview of the Florida housing market The Florida housing market is known for its diversity, with various options available to buyers at all price points.

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HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Henderson says that while connecting with a reputable agent who knows the San Diego market is important, one thing potential buyers should be sure to do is to align themselves with a great lender.

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HomeLight

SEPTEMBER 13, 2022

Selling a house to a family member is typically a much quicker and simpler process than selling on the open market. This means the buyer and seller have a pre-existing relationship of some kind (i.e. There are several ways to receive an estimate of your home’s current market value. Perform a title search.

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Redfin

AUGUST 3, 2022

The safest rule of thumb dictates that your mortgage loan payment should not exceed 28% of your monthly gross earnings. 224,000/100 = $2,224 is the maximum monthly mortgage payment, including principal, interest, taxes, house insurance (PITI) plus mortgage insurance, that you could afford according to the 28% rule. .

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HomeLight

NOVEMBER 10, 2021

A mortgage is a 15- to 30-year commitment, unless you sell or refinance. For example, a 1% difference in your mortgage rate could bump your monthly payment up around $100 a month, costing you $30,000 over the life of a 30-year mortgage. Step 4: Get preapproved for a mortgage. Her higher budget expanded her search radius.

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HomeLight

DECEMBER 7, 2021

Usually, it’s the buyer, but the seller may schedule a pre-inspection before listing the home. When the seller isn’t legally required to make repairs, the decision to do so often relates to the market. Because of the [current] market conditions,” Marshall points out, “sellers are less willing to fix things.”. inspection.

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HomeLight

AUGUST 16, 2021

This means that the homeowner stopped making payments on their mortgage, and the bank seized the property to recoup the funds. Given the various types of mortgages that are available, the auction process may differ depending on whether the loan on the house up for auction was government-backed or a conventional loan. Minimum bid.

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