HomeLight

MARCH 31, 2022

leading to bidding wars in many of the major markets. For instance, getting preapproved for a mortgage is imperative in the 2022 tight market. But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency.

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 84

RIS Media

JULY 8, 2021

When navigating highly complex, multiple-offer negotiations in the current real estate market, it’s important for agents representing buyers to be prepared, proactive, and provide the best chance to win a bid for their dream home. Your agents should employ strategies that will give them and their clients a leg up in the market.

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Marketing MLS Agents Rent back 104

HomeLight

APRIL 29, 2021

From cocktail parties to backyard barbecues, it seems like everyone around you is talking about how hot the real estate market is. So does that mean you’re in a buyer’s market or a seller’s market? Like stock prices, the real estate market fluctuates. It can affect: How you prepare your home for sale.

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Marketing Sales Agents Construction 109

Housing Wire

AUGUST 10, 2023

This policy change is critical as the nation continues to address the challenges of a real estate market in which home prices are high and the availability of affordable housing supply is low, making it difficult for individuals and families to achieve the dream of homeownership,” said Lopa P.

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Renovation Development Rent back Principal 338

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!

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Purchase and sale agreement Rent back Pre-approval Inspection 145

Realty Biz

JULY 7, 2021

There may not be enough houses on the market right now, but more are coming on the market every day. When the market demands it, your highest offer should be at the high end of the market analysis. In today’s market, a good strategy is looking at houses below the top end of your budget.

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Inspection contingency Marketing Inspection Rent back 109

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?

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Rent back Purchase and sale agreement Closing Renovation 101

Redfin

MAY 7, 2021

Homeowners in a seller’s market face a conundrum. You can expect high prices in a competitive housing market where homes are selling in record time. Here are six options to consider when deciding on selling and buying in a seller’s market. 6 options for selling and buying in a seller’s market.

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Purchase and sale agreement Marketing Equity Loans 77

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 63

First Team Real Estate

MAY 25, 2021

Southern California home prices hit an all-time high this April as the hot seller’s market got even hotter. Bidding wars are extremely common across the Southern California housing market as tons of buyers compete for limited inventory , helping to drive up median prices. Sales: Up 101%. Sales: Up 97.9%.

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Rent back Closing costs Sales Mortgages 98

HomeLight

MAY 5, 2022

Given the recent low-inventory market , many sellers are requesting rent- or lease-back deals , which allow them to remain in the home for a short period of time. We’ve got solutions and options for the specific scenario you face, whether it’s: You need to negotiate a rent-back. What to do? Pro: Sweeten the pot.

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Rent back Closing Purchase and sale agreement Agents 107

Windemere Selling

SEPTEMBER 1, 2021

On the other hand, it creates a gap of residence, often leaving homeowners wondering where they’ll stay until they move into their new home or whether they may need to rent before they can buy again. Sellers may also negotiate a rent-back agreement with the buyers, allowing them to rent the house from the new owners before they move in.

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Purchase and sale agreement Rent back Loans Agents 52

Realty Biz

MARCH 5, 2021

Real estate agents are urging their clients to go and sell their homes now, or risk missing out on the golden opportunity that the current seller’s market presents. “A With the current high market demand for homes and slim housing inventories, sellers have far more negotiating power than they’ve had in a long time, real estate experts say.

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Equity Rent back Agents Loans 113

RIS Media

APRIL 18, 2022

Take time to understand the current housing market. You’ll want to be sure you understand the current market and what houses are available. Look at recent sale prices, as well as neighborhood trends. Is it a buyer’s market or a seller’s market? All real estate is local, after all.

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Pre-approval Backup offer Due diligence Rent back 117

Realtor.com

DECEMBER 10, 2020

But it’s not the only negotiable part of the sale—there are plenty of other ways to haggle aside from list price. “In In this market, trying to negotiate a sales price probably won’t get you far.”. In a competitive market, buyers might be tempted to forgo a home inspection to speed up the process and appeal to sellers.

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Closing costs Inspection Closing Rent back 142

HomeLight

APRIL 27, 2022

And according to a recent survey, 83% of real estate agents expect these trends to continue into 2022, though a more balanced market may start to emerge in the second half of the year as interest rates rise. The best way to ensure that you’re setting the best price for your house sale is to work with a top agent. Get Estimate.

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Renovation Agents Sales Rent back 100

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. We are not offering legal advice.

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Rent back Closing costs Finance Agents 97

HomeLight

APRIL 29, 2021

The home sale process involves a long list of steps, and your execution of each impacts your final sale price. As with most things in life, preparation is the key to a successful home sale. With 24 years of experience under his belt, Thompson shared a few gems about navigating the home sale journey. Landscaping: 100 %.

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Purchase and sale agreement Pre-approval Inspection Inspection contingency 96

Real Trends

MARCH 3, 2022

No matter how much prep, effort and marketing you’ve put into your listing, it’s likely to sell quickly and for over-list price in this seller’s market, which is nothing to brag about. . When you’re the listing agent: Please don’t list and ghost.

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Agents Due diligence Inspection Rent back 103

Real Trends

JULY 15, 2022

The situation in today’s housing market is consistent with that of the previous two years: a lower inventory of houses available for sale than the demand. That said, although houses are still selling, sales have definitely cooled in some areas. What you need in today’s market.

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Loan Officer Agents Rent back Finance 52

Redfin

MAY 27, 2021

It’s no secret that the US housing market is fiercely competitive right now, with homes selling faster and for more money than pre-pandemic levels. On top of that, if the house didn’t appraise for the sale price, they offered to pay a portion between the appraised value and sell price.”. “A Who could say “no” to a free 2-week vacation?

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Agents Rent back Inspection Closing 63

The Close

FEBRUARY 6, 2024

That’s not including the luxury market—the median sold price in my area in Florida is around $300,000. So, my broker coached her clients, the buyers, to keep their backyard renovations to themselves so as not to spook the sellers from completing the sale. Offer Rent Back The possession date is often a point of negotiation in any sale.

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Pre-approval Earnest money deposit Inspection Inspection contingency 73

HomeLight

APRIL 28, 2022

With houses on the market for an average of 18 days as of February 2022 (according to statistics from the National Association of Realtors®), you don’t have much time to sell , pack up the house, and go. Hold a garage sale. Rent-back agreement. Donate clothing and home goods to charities. Packing tips.

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Purchase and sale agreement Rent back As-is Agents 109

HomeLight

APRIL 17, 2024

Selling a home the traditional way can be stressful and time consuming, especially in a shifting market. Alternatively, HomeLight can provide an all-cash offer to purchase your home through our Simple Sale platform. Request Offer Editors note: Opendoor and Offerpad provide an option to list your home on the market.

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Seller concession Inspection Rent back Closing 88

Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% Record-low mortgage rates, which fell below 3% for the first time in history this month, are driving strong homebuyer demand amid a severe shortage of homes on the market. In June, 19.9% of successful offers submitted by Redfin agents in select major U.S. Methodology.

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Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

HomeLight

SEPTEMBER 30, 2020

As excited as you are about the prospect of a successful sale, you’re hesitant to sign a contract without knowing you’ll have somewhere to go. On the flip side, the U&O can allow the seller to remain in the home for a certain amount of time after closing (also known as a “rent-back” agreement).

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Purchase and sale agreement Closing Rent back Investor 55

HomeLight

AUGUST 31, 2021

Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. If you’re looking to buy a home in such a market, you need to understand how a cash offer on a house works and what makes such an offer appealing to sellers. Source: (Mike / Pexels.com).

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Due diligence Inspection Pre-approval Pre-qualification 79

HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 93

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.

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Inspection contingency Purchase and sale agreement Pre-approval Inspection 70

HomeLight

MARCH 31, 2021

Does a ‘Sale Pending’ sign materialize on your neighbor’s yard a few days after a “For Sale” sign appears? If these scenarios ring true, chances are you’re in the midst of a seller’s market. A seller’s market exists when there are more homebuyers than available homes.

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Marketing Banks Land Sales 88

HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted. Source: (LinkedIn Sales Solutions / Unsplash).

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Rent back Inspection contingency Earnest money deposit Finance 104

HomeLight

APRIL 19, 2021

But getting to live in such a cultural epicenter means getting ahead of an exceptionally competitive real estate market. We interviewed real estate experts with decades of experience to help you win a bid on your own home in Manhattan’s hyper-competitive, fast-paced market. Source: (Josephine Baran / Unsplash). million in condos.

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Earnest money deposit Due diligence Inspection Agents 63

First Team Real Estate

MAY 21, 2021

In order to get your home offer accepted in today’s tight seller’s market, you’ve got to be quick, smart, and totally in sync with your real estate agent. According to recent data from NAR , home sales are receiving an average of 4 offers, and our FirstTeam agents regularly see bidding wars that capture upwards of 20 offers!

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Purchase and sale agreement Rent back Marketing Agents 98

HomeLight

JULY 29, 2022

Each option may have advantages that depend on market conditions. Our Home Value Estimator 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. Start by understanding the market. In a buyer’s market.

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Debt-to-income ratio Loans Rent back Equity 109

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

JANUARY 7, 2022

So, instead of stressing your way through two sales, you can set yourself up for success and have your bags packed for your new home in no time. They’ll also introduce you to options, such as a bridge loan or home equity line of credit, to assist in your sale if needed. Do you have a limited amount of time to complete both sales?

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Equity Loans Debt-to-income ratio Closing 104

HomeLight

AUGUST 16, 2022

We’ll get into more details shortly, but it is safe to say that market activity is to blame (or thank!) Interest rates adjust based on how the overall market is doing. The International Monetary Fund has a great explainer on these market ups and downs if you’re up for some further reading. Why did mortgage rates rise?

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Mortgages Fixed-rate mortgage Agents Rent back 134