article thumbnail

How Long Does a Short Sale Take? What to Expect When You’re Buying Short

HomeLight

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? It’s a long sale.

article thumbnail

What Is A Short Sale and Is It A Good Idea As A Buyer?

HomeLight

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is a Contingent House Listing?

Point2Homes

But, what does contingent mean and how does it affect your purchase? However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Contingent Statuses. Kick-Out Clause.

article thumbnail

Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. An offer has been accepted, and the sale is expected to close.

MLS 92
article thumbnail

Can Realtor Fees Be Negotiated? Here’s What Homebuyers Need to Know

HomeLight

Regardless of whether an individual’s professional designation is a licensed real estate agent or a Realtor® (a Realtor® is a licensed agent who is a member of the National Association of Realtors ), most agents are paid through commissions, which are a percentage of a home’s sales price. Why the vagueness? Schedule showings.

article thumbnail

Selling a House ‘As Is’ in North Carolina

HomeLight

HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in North Carolina. MLS has field to mark a listing “as is”? “As is” is a type of home sale where it’s understood that no improvements will be made to the property. Request Cash Offer.

As-is 85
article thumbnail

Selling a House ‘As Is’ in Indiana

HomeLight

HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in Indiana. Indiana law requires sellers to disclose material facts about the property through the Seller’s Residential Real Estate Sales Disclosure. MLS has field to mark a listing “as is”?

As-is 97