Realty Biz

MAY 1, 2022

If you are looking to buy a home in a hot seller’s market, there is a strong likelihood you’ll be up against buyers who will be making a cash offer. Research The Current Real Estate Market. When trying to beat a cash offer, it’s essential to understand the current local real estate market? Let’s dive in!

Purchase and sale agreement

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. Get final mortgage approval. Clear the title.

Closing

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?

Pre-approval

HomeLight

MAY 24, 2021

If you’re looking to buy in 2021, then you already know that the market is white-hot. That means it’s a prime seller’s market — and a potentially tough go for hopeful buyers. So how can you be prepared to pounce with the right offer over asking price when you see that dream home hit the market? Perfect match, right? Not so fast.

Pre-qualification

HomeLight

APRIL 29, 2021

“Sellers don’t always understand the condition that their property should be in bringing onto the market,” says Thompson. Your buyer’s loan approval is often the closing step that takes the longest. Do you need interim housing, a specific closing date, or a seller rent back ?

Purchase and sale agreement

HomeLight

AUGUST 31, 2021

Cash offers are more popular in some markets than others; for buyers trying to find a house in an area where cash offers are prevalent, competing against those offers can be a discouraging part of the homebuying process. Keep in mind that the number of cash offers floating around fluctuates with the market and at different price points.

Due diligence

HomeLight

APRIL 21, 2022

To help you evaluate your first offer, we’ll walk you through key consideration points, how to weigh the strength of the offer, encourage you to assess your objectives, and how to factor in market conditions. Your house has been on the market three months or more. You found your new home and want to avoid carrying two mortgages.

Inspection contingency

HomeLight

MAY 24, 2022

The recent real estate market has been head spinning, and perhaps the home that sold across the street for way over asking price has got you wondering — should I sell my house in 2022? Real estate market starts to cool off. Maybe you now work remotely so you’re thinking about moving to have enough space for a home office.

Pre-approval

The Close

APRIL 28, 2022

In today’s tight inventory market, trying to help buyers with financing and limited funds feels a little like getting into a boxing match with Mike Tyson. Here are the top 10 that have helped my team successfully beat out cash offers—yes, even in this red hot market. No-cost Rent-back. We are not offering legal advice.

Rent back

The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. FAQs What is a bidding war?

Pre-approval

Redfin

JULY 30, 2020

Almost half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015, according to a Redfin-commissioned survey in May and June of more than 1,400 people across 29 major markets. PT on a Wednesday, and went to bed soon after.

Inspection contingency

Marco Santarelli

MAY 4, 2023

In 2023, despite a cooling housing market and high mortgage rates, turnkey homes are in demand and selling fast. While fixer-uppers, homes with less curb appeal, and those located in less desirable areas are sitting on the market for longer, turnkey homes in good school districts remain hot commodities.

Sales

HomeLight

FEBRUARY 25, 2022

For small markets: closed at least 50 transactions in the last 12 months. For large markets: closed at least 100 transactions in the last 12 months. Usually ranked in the Top 1% in sales in their local market. Must have an agent or broker’s license in good standing. Full-time agents, not hobbyists. Ideal Agent reviews.

Agents

HomeLight

MARCH 28, 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. How’s the real estate market? It’s an extremely competitive market for buyers.”. Get Estimate. What’s more, every home sold received 3.9

Purchase and sale agreement

HomeLight

NOVEMBER 10, 2021

After you submit your documentation, you’ll know what kind of budget you have to work with, or your approval “ceiling.”. A local agent will know how to write a competitive offer and what sellers in the market prefer. You’re getting a feel for the market, and that quick sale just told you it’s probably a good area.

Inspection

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.

Closing

HomeLight

OCTOBER 12, 2020

Matt: That’s the voice of Sarita Dua, an agent in Portland, Oregon where bidding wars are common and the market is unlike anything she’s seen in her 16 years in real estate. Sarita is back with me today for part 2 of our conversation about winning bidding wars. We had the pre-approval letter.

Agents

HomeLight

MARCH 22, 2021

But you’ll notice that the market itself hasn’t changed much since then. Matt: That’s the voice of Sarita Dua, an agent in Portland, Oregon where bidding wars are common and the market is unlike anything she’s seen in her 16 years in real estate. We had the pre-approval letter.

Agents

Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% The decision to do so should be made carefully with the guidance of a trusted real estate agent, who can also advise on the possibility of doing a pre-inspection before submitting an offer. In June, 19.9% during the same month in 2019. up from 17.4% in May and 44.4%

Inspection contingency

Housing Wire

APRIL 23, 2025

Do a pre-inspection This may or may not be popular in your market, but here in the Boston area, we see this fairly often. A buyer will bring in an inspector to conduct a pre-inspection, a condensed version of a home inspection that focuses only on the major systems and typically takes about an hour or so.

Inspection contingency