HomeLight

NOVEMBER 29, 2021

A down payment is money that a buyer will pay at closing, usually expressed as a percentage of the home’s total purchase price. Agents say the ongoing demand for houses is being heavily driven by people fleeing more expensive areas of the country. FHA loans. USDA loans. Does it really have to be 20%?

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 110

The Close

AUGUST 6, 2024

As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures. The buyer ultimately assumes all risks and responsibilities for any issues that may arise post-purchase. In other words, “what you see is what you get.”

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HomeLight

AUGUST 21, 2023

If your appraisal comes out lower than you planned, it could end up delaying or disrupting your home’s sale. Connect with a Top Agent Find proven real estate agents that know your local area, and how to help you prepare for a successful home appraisal. Top-performing agents sell homes faster and for more money.

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HomeLight

JUNE 13, 2022

You need to save up money for a down payment and closing costs (which are calculated as a portion of your purchase price), but home prices just keep going up — so when you finally reach your goal, you realize that the goalposts have moved, and the hill is even taller than you thought. for an FHA loan. Let’s dive right in!

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HomeLight

DECEMBER 12, 2023

This guide breaks down what it means to step into a family member’s mortgage shoes and purchase their home. We’ll explore what loans are assumable, the pros and cons, and the financial, legal, and tax considerations to help you make an informed decision. Conventional loans: These are less likely to be assumable.

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HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. 24, you can expect to close on the sale of your home somewhere between the end of February to mid-March.

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Lab Coat Agents

NOVEMBER 20, 2024

An assumable mortgage is a financial agreement where the buyer takes over the seller’s existing mortgage. If you are the buyer, this means you inherit the loan’s principal balance, interest rate, and repayment terms. Types Of Loans That Can Be Assumed Not all mortgages are assumable. What Is An Assumable Mortgage ?

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Purchase and sale agreement Mortgages Pre-approval VA loan 98

HomeLight

SEPTEMBER 1, 2022

We researched everything you need to know about buying a house in Florida, and spoke with top agent Maria Raymer , who works with 67% more single family homes than the average agent in Jacksonville, Florida , to get expert insight into the steps required for buying a home in Florida. FHA is really one of the best options,” she advises.

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HomeLight

AUGUST 9, 2022

It’s the first financial move you’ll make in securing your new home purchase. Since a down payment is, as the term suggests, the amount of money you’re putting down on the purchase of your home, your mortgage lender will need to see proof of these funds fairly early on in the approval process. Real Estate Agent. Let’s jump in!

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HomeLight

SEPTEMBER 1, 2022

If this all sounds perfect and you’re thinking of purchasing a home in Connecticut, read on! With tips on everything from how to save for your down payment, specific loan programs for buyers, and what you should look for in an agent, we’ve got you covered. Steps to buying a home in Connecticut. Assess your readiness.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 111

HomeLight

MARCH 3, 2025

The most common request I get for as-is sales, are situations where a house is in significant disrepair. A seller [that] just doesn’t want to make repairs and wants to sell the house as-is, says Connor Dowd , a top-performing Rhode Island agent with 26 years of experience. Its much more common than you might think!

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HomeLight

NOVEMBER 29, 2021

If you’re considering a rent-to-own house, you need to have a clear understanding of how these contracts work — they’re a little bit different from both a typical rental contract and a typical home purchase contract. When the future purchase price is set. Lease option vs. lease purchase. Term lengths. Option fee.

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Purchase and sale agreement FHA loan Loans VA loan 105

HomeLight

JULY 31, 2022

Even before you decided to put your home up for sale, you probably knew making minor repairs and sprucing up your home would increase the chances of attracting the right buyers and getting a great offer. So how can you know what kind of repair issues could potentially derail a sale — before you even have an offer?

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HomeLight

SEPTEMBER 1, 2022

Once you have the purchase agreement in hand, you might think there are no more obstacles in your way, but the home still has to appraise for the amount you agreed to pay for it. When you’re financing your home purchase with a mortgage, the lender wants to make sure the property you’re buying is worth what you’re paying for it.

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HomeLight

OCTOBER 27, 2021

“If you can get to a home as a preforeclosure before it goes into foreclosure, that’s the best route,” explains Donny Piwowarski , a top-selling agent who works with 84% more single-family homes than the average agent in his region of Tracy , California. “A In preparation for making your offer, talk to your agent about what seems fair.

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HomeLight

AUGUST 16, 2021

We have enlisted the help of one of Colorado’s top real estate agents, Alexa Elliot , who has helped many of her clients buy their first home in addition to helping buyers with investment properties. Insisting upon a signed and notarized legal rental agreement. Consider a master lease agreement. One program will “cover the 3.5%

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HomeLight

DECEMBER 6, 2021

Financing hoops: You may face additional scrutiny from the lender if your buyer will use a mortgage for their purchase. The following resources may also be of assistance in your family sale: Real estate agent: For a reduced commission rate, an experienced agent can help minimize challenges and coordinate the sale.

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HomeLight

NOVEMBER 9, 2021

We’ll walk you through it, with expert intel from Dave Zajdzinski , a top-selling agent who works with 71% more single-family homes than the average Phoenix agent. How soon will I receive my home sale proceeds? What taxes will I owe on my home sale? How soon will I receive my home sale proceeds? California.

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HomeLight

MAY 23, 2022

According to Indiana real estate agent Jesse Allen , the biggest reason he sees people try to sell their homes “as is” in Indiana is because they don’t have the funds to make any repairs and their property is in a state of disrepair. “We HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition.

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HomeLight

MAY 23, 2022

Top-rated North Carolina real estate agent Ashley Schaus had a listing recently that was in really rough shape. HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in North Carolina. Sell 'As Is' With a Cash Offer. Request Cash Offer. 359,600 (April 2022).

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HomeLight

APRIL 12, 2023

Your closing costs may differ depending on your circumstances and the terms of your home purchase. of the purchase price, and 1% for sellers, not including real estate agent commissions. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.

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Redfin

JANUARY 28, 2025

Instead of applying for a new home loan with todays mortgage rates and terms, the buyer steps into the seller’s position as the borrower and continues making payments under the original loan agreement. This is typically reflected in the sale price of the property.

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HomeLight

AUGUST 16, 2021

With this expert-backed guide, we’re here to help: Here’s how to apply for a first time home buyers loan in eight manageable steps. Source: (LinkedIn Sales Solutions / Unsplash). A few places to find them include HUD’s list of local homebuying programs , the FHA’s list of state-by-state DPA programs … and, well, Google.

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HomeLight

JULY 25, 2022

“Even if sellers think their house isn’t ready, there are ways to get it right for selling if they want to sell,” says Kelley Martin , a top real estate agent in San Antonio who sells homes 48% quicker than the average area agent. Median sales price in Texas. Sell 'As Is' With a Cash Offer. Request Cash Offer.

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HomeLight

DECEMBER 29, 2021

Savvy sellers know that if their home is priced right, they stand a very good chance of having it appraise accordingly, and keep the sale on track. You can’t always avoid [a low appraisal],” says Megan Walters , a top-rated agent who sells homes 40% faster than the average agent in her Columbia, Missouri, market.

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HomeLight

NOVEMBER 10, 2021

We did the research and spoke with Jeff Riber , a Jacksonville , Florida, agent who works with 72% more single-family homes than the average agent in his area. “It In fact, the median sales price for single-family homes in the Miami area in August 2021 was over $500,500 , according to Florida Realtors®.

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HomeLight

APRIL 29, 2022

“Some people have a lot more time and energy to engage and make the best of the sale, and some people don’t,” says George Graham , a top real estate agent in the Seattle, Washington, area. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds.

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Realty Biz

FEBRUARY 1, 2024

A credit in home sales can be given for several reasons. Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. When a seller offers credits to a buyer, it can make the purchase more attractive.

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HomeLight

AUGUST 12, 2022

“The first thing that’s important to distinguish is whether ‘as is’ comes from the seller or the buyer,” explains Monica Bullington , a top agent in Bloomington-Normal, Illinois, who works with over 85% more single-family homes than the average area agent. Median sales price in Illinois. Sell 'As Is' With a Cash Offer.

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HomeLight

MARCH 6, 2023

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Appraisals are typically needed when applying for a mortgage or refinancing a home loan. What's Your California Home Worth?

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HomeLight

JULY 25, 2022

In Florida, the concept of selling a property without negotiating repairs is so alluring, that “the percentage of as-is sellers is probably 99%,” reports top real estate agent JoAnn Jacobs. Sellers are interested in listing their home ‘as is’ because they want a sale with an easy transaction and a lot less hassle,” says Tom.

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HomeLight

AUGUST 16, 2021

We’ve rounded up expert advice from all across our Buyer Resource Center and enlisted the help of top Massachusetts agent Rosemary Mancuso to walk us through what first-time buyers need to buy a house. Plus, if you do decide to take the leap, you’ll be ready to tackle your home purchase like a pro. Here’s a quick breakdown: Loan type.

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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. With this information in hand, you’ll be prepared to get a mortgage loan and start your journey to homeownership. with a score above 580.

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HomeLight

NOVEMBER 29, 2021

The amount varies, but it is usually based on a percentage of the home’s purchase price. William Hagan , a New Jersey agent who typically sells homes more than 40% faster than the average agent in his area, warns that even a 20% down payment may not be enough to win a bidding war in the 2021 sales market.

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HomeLight

JUNE 28, 2021

When you purchase a home using a mortgage, you’ll have to meet the lender’s debt-to-income — or DTI — requirements. Most homebuyers need to put something down to purchase a home. It’s not uncommon to have closing costs that add up to 2% to 5% of your loan amount. If we take the median sale price of $341,600 for all U.S.

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Redfin

AUGUST 29, 2024

You will also need to save money to put toward closing costs , about 2-5% of the purchase price. Jumbo loan: Also known as non-conforming loans, jumbo loans exceed the limits set by conforming loans. These loans are typically issued for more expensive homes and come with stricter qualification requirements.

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GeekEstate

FEBRUARY 14, 2024

The company’s success led to its sale to CrossCountry Mortgage in 2022. I’ve seen how traditional partnerships, usually in the form of joint ventures or Marketing Service Agreements, often aren’t effective. This change, previously restricted with FHA loans, marks a pivotal moment. What’s next for you?

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