RIS Media
APRIL 18, 2022
Allowing the seller to rent back for a specified amount of time. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. Your agent can help you get pre-approved for a mortgage in the current market.
The Close
FEBRUARY 6, 2024
Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. That could be a pretty sizable chunk of money from the seller’s profit.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
HomeLight
APRIL 29, 2021
Work with the title rep to review and clear any title issues. Your buyer’s loan approval is often the closing step that takes the longest. Issues like loan delays, survey issues, and title issues can stretch your closing weeks or longer. Do you need interim housing, a specific closing date, or a seller rent back ?
The Close
APRIL 28, 2022
In most real estate transactions, the seller pays for the costs of the title insurance, escrow, and homeowner association (HOA) fees. One benefit of this is that in most cases, when the buyer pays for the title policy, they are able to select which title company they wish to purchase the title insurance policy from.
HomeLight
NOVEMBER 10, 2021
After you submit your documentation, you’ll know what kind of budget you have to work with, or your approval “ceiling.”. They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. If it does come in lower, the lender won’t approve the mortgage.
Realtor.com
OCTOBER 29, 2020
Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Clear the title. When you buy a home, you “ take title ” to the property and establish legal ownership—a process that’s confirmed by local public land records. Get final mortgage approval.
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. CalHFA works through approved lenders, and buyers apply for the program through their loan officer. Do they need to do a rent-back on the house, or do they want a quick close?
Expert insights. Personalized for you.
119 
Let's personalize your content