The Close
FEBRUARY 14, 2024
Investments & Improvements Myth #6: Major Renovations Guarantee a Return on Investment Home tastes and styles change. Some clients may even ask if they should look into a HELOC for renovations. That’s most likely easier and faster than replacing an entire system or a big renovation. Let your sellers know your thoughts.
HomeLight
JUNE 29, 2021
Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. House flippers , on the other hand, pay cash to purchase homes that require major repairs, renovate them, and then resell them for a profit. When it comes to offers on your home, cash is king for a reason.
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HomeLight
AUGUST 31, 2021
Ask for proof of funds: You should always obtain documentation that a person or company is who they say they are and actually has the funds and abilities to complete a transaction of this size. Ask for proof of funds and EMD. Request Cash Offer. Lower-maintenance sale. Source: (Shopify Partners / Burst).
HomeLight
MARCH 13, 2023
With the strong Florida sun shortening the lifespan of roofs and air conditioning systems, costly renovations may be necessary. A cash buyer relieves them of the headaches of renovating and listing the property. Many people who contact Reiner have older homes that haven’t been updated. For a rental, not as much,” explains Joseph.
HomeLight
MARCH 13, 2023
Certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few, if any, contingencies. No pre-qualifying for a loan. Instead, however, he advises sellers to validate cash buyers for proof of funds. Drive around your neighborhood to find homes being renovated.
HomeLight
FEBRUARY 3, 2022
Refresh (don’t renovate) your home. Not only is it stressful to perform major renovations to your home right before you sell it, but it can also be a bad move financially. It’s also good practice to screen buyers for pre-approval or proof of funds before they view the home to cut back on useless showings.
HomeLight
SEPTEMBER 30, 2020
Buyers with lower credit scores or lower down payments can sometimes get an FHA loan even if they can’t get approved for a conventional loan. HUD homes are sometimes eligible for FHA 203(k) renovation mortgage loans. You’ll either need a mortgage or cash (with proof of funds). The home is then sold at a discount by HUD.
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