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Opinion: Reframing the American Dream of homeownership

Housing Wire

It may mean drilling down and familiarizing yourself, and your potential clients, with the ins and outs of credit repair, loan pre-qualification and pre-approval, and even basic personal finance and budgeting. Embracing change The future of the real estate market is inevitably different from the past.

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Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business. An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing.

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How to Beat a Contingent Offer on the House You Want

HomeLight

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

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Take more time, ask better questions: How loan officers are getting clients in homes as rates soar

Housing Wire

Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. Seller concessions are abundant in some of the markets that have cooled – including Oregon and Arizona – and his clients are able to take advantage of that, Sawyer noted.

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Creative Ways To Win A Bidding War In A Competitive Market

Easy Agent Pro

Setting a Realistic Budget and Obtaining Pre-Approval Before engaging in bidding wars, creating a realistic budget is essential. Once you’ve established a budget, seek pre-approval from a reputable lender. Determine how much you can afford by considering income, expenses, and desired lifestyle.

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Your Dream Home Appraised Lower than Your Offer: Now What?

HomeLight

If they are unwilling to budge on price, you can also renegotiate seller concessions. This strategy works if the seller has paid off their home in full and sees value in receiving regular monthly payments, which are essentially a passive income stream. MLS printouts of these comps with sales data and seller concessions.

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16 Tips to Win a Bidding War on a House

The Close

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.