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. a reduction in “the interest rate on any pre-service loans to a maximum” of 6%. Home Loan program.

VA loan 69

VA loan Purchase and sale agreement Short sale Pre-approval 69

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. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. Short sale.

Closing 110

Closing Purchase and sale agreement Title search Earnest money deposit 110

Marco Santarelli

JULY 23, 2022

People who recall the subprime mortgage crisis are concerned that the recent spike in home prices followed by a pause signals the bursting of another housing bubble. Due to the crash, there may also be short sales and foreclosures, offering you the opportunity to acquire a deal. But is the housing market truly in a bubble?

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Mortgages Marketing Lending Equity 52

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

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Short sale Sales Pre-approval Pre-qualification 77

HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

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Short sale Sales Pre-approval Equity 84

HomeLight

NOVEMBER 1, 2021

It’s likely that you will sell your home to a buyer who will finance the purchase with a mortgage. According to the National Association of Realtors (NAR), 87% of home buyers finance property purchases with a mortgage. Mortgage companies require an appraisal to determine the value of a home. Your home is overpriced.

Purchase and sale agreement 92

Purchase and sale agreement Proof of funds Backup offer Finance 92

HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

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Short sale Sales Pre-approval Closing costs 60

HomeLight

JANUARY 3, 2022

In addition, the risks of a settlement cancellation or delay are higher with a traditional sale, especially if the buyer is purchasing the home with a mortgage. They also don’t want the hassle of renting out their old home or carrying two mortgages. When agents and iBuyers work together. All of this takes time.

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Agents Title Inspection Title search 94

Lighter Side of Real Estate

DECEMBER 7, 2022

A seasoned real estate investor can typically find a deal, regardless of the current real estate market, but the extremely low mortgage rates caused a lot of buyer competition for the limited number of houses for sale, which made it virtually impossible for investors to buy a property at a profitable price.

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Pre-approval Investor Short sale Equity 84

HomeLight

OCTOBER 29, 2020

When you use a mortgage to buy a home, your lender will need to order an independent appraisal to evaluate what it’s worth. Unless you’re paying cash for a house, your best course of action is to include a pre-approval letter from a mortgage lender with your offer. Short sale or bank approval contingencies.

Purchase and sale agreement 79

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

DECEMBER 9, 2021

First thing’s first, a quick home sale should not be confused with a short sale. A short sale is something a homeowner can attempt when they are in financial distress. HomeLight has a network of hundreds of pre-approved instant buyers across the country as part of our Simple Sale platform.

Sales 94

Sales Short sale Agents Pre-approval 94

HomeLight

OCTOBER 27, 2021

A home is in preforeclosure when the owner has stopped making mortgage payments for several months and their loan is delinquent or in default — so the owner is approaching foreclosure. In fact, the homeowner might even have a plan to catch up on the mortgage, and in the end, the home won’t end up in any kind of sale.).

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Purchase and sale agreement Inspection Homeowner’s association Title 87

HomeLight

MAY 19, 2022

“I just had three sales last month where I lent the sellers the money needed to make the repairs and they netted almost triple the amount of money we put into the house,” Umanzor says. Consider a pre-listing inspection. Not every buyer who has an approval letter will get to the finish line.”. It’s a win-win for everybody.

As-is 101

As-is Inspection Investor Closing costs 101

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. Step 3: Shop around for lenders.

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Inspection Title Agents Pre-approval 88

HomeLight

APRIL 21, 2022

You found your new home and want to avoid carrying two mortgages. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Carrying costs of paying mortgage, utilities, and insurance.

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Inspection contingency Home sale contingency Pre-approval Agents 106

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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Title Due diligence Finance Inspection 109

HomeLight

MAY 23, 2022

Consider a pre-listing inspection. A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. That being said, a pre-listing inspection isn’t a necessity.

As-is 92

As-is Inspection Investor Sales 92

HomeLight

MARCH 21, 2022

Opendoor buys homes of varying condition, but criteria like a short sale, unpermitted work, or dated materials may impact whether the company is willing and able to purchase a home. It works by pre-underwriting sellers for a new home, then providing them with a short-term loan to make a competitive offer.

Closing costs 95

Closing costs Home sale contingency Investor Closing 95

HomeLight

MARCH 19, 2022

The buyer’s financial health (mortgage pre-approval, down payment size, etc.). They do this by: Researching outlier comps to include or exclude (Foreclosures, short sales, etc.). Few (or zero) repair requests, contingencies , or seller concessions. An all-cash offer. Source: (Anouk Doe / Pexels).

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Closing Due diligence Agents Staging 92

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Assumable mortgage. Acceleration clause.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97

Marco Santarelli

DECEMBER 20, 2020

Have your financing option ready before you submit an offer as most sellers want to see a pre-approval letter before accepting an offer. Better yet, they’re the ones who can give you lists of homes available for short-sale. This can help you avoid competition, bidding wars.

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Sales MLS Renovation Investor 80