RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. The fee, usually 0.3 – 1.5

Pre-approval 90

Pre-approval Pre-qualification Title search Inspection 90

HomeLight

JULY 31, 2020

Loan approval. 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. 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.

Closing 113

Closing Purchase and sale agreement Title search Earnest money deposit 113

The Close

DECEMBER 29, 2022

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.

Purchase and sale agreement 97

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