HomeLight

OCTOBER 30, 2020

All-cash offers are beloved by sellers and real estate agents alike — and they’re more than three times as likely to be chosen from the pack. We talked to two top real estate agents to walk us through what can hold up even an all-cash deal. The title isn’t clear. But is the cash closing process always seamless? Not always!

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HomeLight

AUGUST 31, 2021

But right as you’re about to call your real estate agent, you notice there’s a line in there that labels it a foreclosure. We talked with veteran real estate agents with a combined 30-plus years working with foreclosures to bring you a comprehensive guide to the often confusing world of distressed properties. Pre-foreclosure.

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HomeLight

MARCH 9, 2022

This step is commonly referred to as a title search , title review, or property history search — but by any name, it involves delving into the formal records of a home and the property on which it sits. A title search is very important. Real Estate Agent. Real Estate Agent at @properties.

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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 : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender.

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HomeLight

AUGUST 16, 2021

To navigate the short sale process, you’ll need an experienced real estate agent and lots of patience. Together with top agents Laura Sanders of Coral Springs , Florida, and Bob Wisdom of Elgin , Illinois, we’re exploring the question of how long a short sale takes and what buyers should know along the way. It’s a long sale.

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Realtor.com

OCTOBER 29, 2020

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. As the home buyer of this piece of real estate, you’re entitled to choose the title company. Get final mortgage approval.

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HomeLight

JULY 31, 2020

In the February 2020 Realtors Confidence Index survey by the National Association of Realtors, 77% of real estate agents responded that contracts closed on time, and 19% reported delays but eventually closed; 4% of contracts were terminated. Problems with the title. Image Source: (Shutterstock.com/Chokniti Khongchum). Loan approval.

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Realty Biz

FEBRUARY 19, 2024

Being a real estate agent for the last thirty-eight years, I have had numerous experiences selling land. The real estate attorney you are using should conduct a title search to ensure no liens against the property. Banks, credit unions, and specialized lending companies offer land loans.

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HomeLight

JUNE 19, 2023

Step one: Talk to a few buyer's agents! Tell us a little bit about your plans (where you’re looking to buy and when you want to make a purchase) and we’ll connect you with top-rated buyer’s agents in your area. There are real estate agents who specialize in land plots. Here’s what you need to know.

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Point2Homes

DECEMBER 7, 2020

This should show you how much you can afford to spend on mortgage payments and reveal how much a bank is likely to lend to you. The real estate agent you choose to work with is even more important when buying a foreclosure. What’s more, the right agent can also help you find foreclosed homes that you might have otherwise missed.

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HomeLight

JUNE 23, 2022

It’s really good faith money,” says Kelly Allen , a top agent and seller representative specialist in Marietta, Georgia. Real Estate Agent. Real Estate Agent at Keller Williams Realty Atl North. Title search reveals a lien or ownership issue. Bottom line: Navigate earnest money pitfalls with a top agent.

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HomeLight

SEPTEMBER 21, 2020

Desperate for a clean break from the situation, you’re wondering: can you sell a house with a lis pendens for a decent price — ideally before the bank forecloses or you rack up a bunch of legal bills? This occurs when the lender, such as a bank or other financial institution, sues the homeowner who has defaulted on his or her mortgage.

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HomeLight

SEPTEMBER 9, 2020

The share of all-cash home buyers has declined since 2014 because, “money is cheap right now with low interest rates, so some people who could buy in cash opt to buy with a mortgage,” says Sherry Ludecker , a top-rated real estate agent in Johnson City, Tennessee. Obtain proof of funds from the bank. Choose a settlement agent.

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Realty Biz

JUNE 20, 2023

Real estate agents specializing in foreclosures can also provide you with listings and valuable insights. REOs: If a property does not sell at auction, it becomes a real estate-owned property, owned by the bank or lender. You want a property with a clean title, or at least an understanding of what you're taking on.

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HomeLight

NOVEMBER 9, 2021

During a seller’s market like the one, we had in the summer of 2021, a top real estate agent could help you find a buyer for your home in as few as 75 days from listing to closing. To help you set the best price on your home, a top real estate agent will provide you with comps and a pricing recommendation. Days on market.

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HomeLight

OCTOBER 28, 2021

These charges, also referred to as settlement fees, are due at the end of the transaction when the title of the property is transferred to the buyer. According to Coletti, Florida home sellers typically pay about 2% of the total home sale price in closing costs (excluding agent fees), though it can range from 1.5% Agent Commission.

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HomeLight

JULY 25, 2023

If you agree to an offer of $350,000, your cash buyer will need to show proof that they have that $350,000 at the ready in a bank account or something equivalent. The largest cost is typically the agent commission at an average 5% to 6% of the sale.) Title issues must be resolved to close the sale.

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HomeLight

DECEMBER 2, 2021

Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Source: (Clay Banks / Unsplash). home sales price of $453,300, as reported by the Federal Reserve Bank of Saint Louis.

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Point2Homes

JUNE 23, 2021

Often, dealing with the bank directly can allow you to pace your home buying decision and even provide a better deal. Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank. What Is an REO Property?

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HomeLight

OCTOBER 2, 2020

While a good lender, mortgage broker, or real estate agent will explain mortgage fees to you before the closing , many borrowers still find themselves surprised at the total cost. Matthew Le Baron , now an agent in Boise, Idaho , with 17 years of experience, remembers when he bought his first home before becoming a real estate agent. “I

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HomeLight

NOVEMBER 1, 2021

Arizona real estate agent, James Wexler, who has represented clients on 420 single-family home transactions, says that sellers can get a preview of what they’ll owe by requesting a net sheet, otherwise known as a settlement estimate from their title and escrow company at the start of the process. Agent Commission. Escrow Fee.

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HomeLight

MAY 28, 2021

But, while some as-is homes are in disarray, not all of them are broken beyond repair, says Ed Verdel , a New Jersey real estate agent with over 11 years of experience. On the other hand, a home in foreclosure might list as-is because the bank doesn’t want to invest money or spend time on fixes. Hire a top buyer agent.

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HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. Barnes has completed 10% more deals than the average agent in his area. Title contingencies. A title is the legal right to own a property. Bank or court approvals. Warren Barnes.

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Redfin

MARCH 3, 2022

“Most title companies and attorneys don’t accept personal checks over $500, sometimes less. Make sure you know in advance how you will be getting a bank check or wire transfer, so you’re able to close on time. Clouds on the title. Before you can close the deal, you’ll need to make sure that the title is clear.

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Realty Biz

SEPTEMBER 14, 2023

Attorneys assist in reviewing and negotiating sale agreements, clearing title issues, and preparing all necessary legal documents. Lenders Lenders, such as banks or mortgage companies, may also engage real estate attorneys to represent their interests in a transaction. Lawyers do this by performing a title search.

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RIS Media

FEBRUARY 21, 2021

Part of the lender’s title insurance requirements is to have a title agency check to see if there are any open claims against the home you are buying. If an issue appears before closing, the seller needs to take care of it, either with their own money or their own title insurance policy.

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HomeLight

AUGUST 16, 2021

Perrin Cornell , a top agent in Wenatchee , Washington, who works with 82% more single-family homes than the average agent in his area. This means that the homeowner stopped making payments on their mortgage, and the bank seized the property to recoup the funds. Let the bidding begin! Source: (Maksim Safaniuk / ShutterStock).

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HomeLight

MARCH 17, 2021

The lender wants to be sure you can pay back the mortgage plus any other debts you owe, so the bank will calculate your DTI. Set up automatic payments with your bank, so you don’t miss the payment deadline. Start by doing an internet search for down payment assistance in your city or state. Hiring an agent.

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HomeLight

JANUARY 29, 2021

We spoke with probate attorneys and a top-performing real estate agent to bring you 10 essential steps for selling an inherited house. Run a title search to surface liens or judgments attached to the property, such as unpaid taxes, a home equity line of credit, or a reverse mortgage. “A Partner with an agent who does probate.

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HomeLight

OCTOBER 29, 2020

Choosing a qualified agent and searching for the perfect home in terms of ideal size, location, price, and condition can already feel like a journey, but making an offer on a property is when the challenge really begins. Short sale or bank approval contingencies. Court approval contingencies.

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Realty Biz

AUGUST 20, 2023

It's essential to gather the necessary documentation, such as bank statements and pay stubs, to support your application. Pre-approval requires you to submit documentation such as bank statements, pay stubs, and a comprehensive credit history review, resulting in a more accurate assessment of your borrowing capacity.

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HomeLight

MAY 27, 2021

We include advice from an agent who has worked with hundreds of new buyers, descriptions of different loans, and information about the many kinds of paperwork you’ll deal with. She finds local lenders also provide better customer service than big banks. Title search. Step 4: Get preapproved.

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HomeLight

APRIL 15, 2022

After some email back-and-forth, they get their final iBuyer offer: Offer details: 98% of what a real estate agent estimated they could earn, minus a 5% service fee, a $2,000 repair credit, and 1% in closing costs. . Must work with Keller Williams agent, see map coverage. Do iBuyers make good offers? 45 metro areas throughout the U.S.

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HomeLight

SEPTEMBER 1, 2022

Lenders have programs where they can help you with down payment assistance”, explained Saud Rai , who completes 22% more sales than the average agent in Homestead, Florida. This program provides qualified community members with significant discounts through partnering with affiliated real estate agents, title and escrow services, and lenders.

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HomeLight

AUGUST 31, 2021

It details the funds owed to real estate agents collecting commission from the sale, local governments owed taxes and recording fees, and final charges going to the lender. Usually lenders will prepare the Closing Disclosure based on a copy of the estimated settlement statement sent by the closing agent. Seller Credit. Excess Deposit.

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HomeLight

AUGUST 31, 2021

A divorce, job move, or low bank account can all be strong motivators to go for the speed and convenience of a cash sale. The cash buyer will likely wire the funds over to your bank account in a process that all in all may take only a matter of weeks or even days. You get paid! Request Cash Offer. Ask for proof of funds and EMD.

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The Close

FEBRUARY 19, 2025

Their short sale mortgage is said to be underwater, if they secure a buyer, they must get bank approval to proceed with the sale. Therefore, knowing market conditions and regulations surrounding short sales is essential for real estate investors and agents. Suppose you work with a real estate agent to buy or sell a short sale.

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