Toronto Realty Blog

FEBRUARY 20, 2025

In order to build a condominium in Ontario, the developer will pre-sell units, that don’t yet exist, and when a certain threshold is met (ie. But practically, she had paid about $1,700 per square foot for the condo in pre-construction several years ago, and the condo wasn’t worth anywhere near that today. Technically.

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Development Purchase and sale agreement Pre-approval MLS 82

Lighter Side of Real Estate

MARCH 5, 2025

Contract Cancellations Are on the Rise According to recent data , more home sales are being canceled than in previous years. In January alone, over 41,000 home-purchase agreements fell through, representing 14.3% of all pending sales that month. Meanwhile, pending home sales have dropped. Thats up from 13.4%

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Purchase and sale agreement Pre-qualification Pre-approval Inspection 79

Realty Biz

MAY 24, 2022

Home agents are sending pens to customers signing a contract to buy a new home. We decided to sell our house as “for sale by owner” to save the agent’s commission. Both the buyer and we signed a generic purchase agreement. I don’t know what is in your generic purchase agreement.

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Earnest money deposit Purchase and sale agreement Pre-approval Inspection 81

Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. Still, pre-approval is not a guarantee that a buyer will get a loan.

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Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

Realty Biz

AUGUST 22, 2022

In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. In a few short weeks, the market has gotten much softer in this neighborhood and I’m not even sure the house will appraise for my purchase offer. Ask your agent or lawyer to point out the cancellation clauses.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 95

Toronto Realty Blog

NOVEMBER 13, 2023

Peter tells John, “I wanted to let you know that I am going to list the condo for sale.” The property is listed for sale and ends up selling after about three weeks. Bob the Buyer is a young man who is purchasing his first home, and is excited to move into the condo in the fall. And what does Bob the Buyer do?

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Purchase and sale agreement Residential Closing Pre-approval 111

HomeLight

MAY 27, 2021

When you signed the listing contract to put your house on the market, you had high hopes for a quick sale. And now you’ve realized that even the listing agreement with your agent has expired. And now you’ve realized that even the listing agreement with your agent has expired. Where does that leave you?

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Purchase and sale agreement Staging Agents Brokerage 106

Realty Biz

JANUARY 19, 2024

From three decades working as a Realtor, there are common denominators for first-time home buyers going through the purchase process with ease. Interviewing and selecting a buyer's agent and choosing a mortgage lender and real estate attorney are vital steps. It's advisable to reach out to multiple lenders and obtain pre-approval.

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Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

BAM Media

JULY 2, 2024

While most agents are headed toward beach towels and piña coladas, summer is your prime time to hone in on your business and set yourself up for dominating the second half of the year. There are key questions every agent should be asking home buyers. I’m not a big fan of asking, “ Hey, are you pre-approved ?

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Pre-approval Debt-to-income ratio Pre-qualification Purchase and sale agreement 52

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. If something is wrong, you can request that it be fixed—or you can back out of the sale. Clear the title.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

OCTOBER 4, 2021

We talked to expert agents experienced in the rent-to-own process to show you exactly where to look and what pitfalls to watch out for. Talk to an experienced agent. A rent-to-own home is an agreement that allows the renter to buy the home from the landlord after a specific lease period. Lease purchase. Table of Contents.

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Purchase and sale agreement Pre-approval Agents Brokerage 141

HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. Get Started What does ‘under contract’ mean?

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 116

Realty Biz

JANUARY 15, 2024

One popular option is a bridge loan, a short-term loan that allows you to finance the purchase of a new home while you wait for your existing home to sell. What Are Ways to Finance the Purchase? When financing the purchase of a new house while still owning your current one, a few options are available.

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Pre-approval Purchase and sale agreement Finance Equity 105

HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. ” Step one: Talk to a few buyer's agents!

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

Realty Biz

SEPTEMBER 23, 2023

Are you wondering what to ask a buyer's agent before hiring them? Buyer agents play a crucial role in real estate transactions. Understanding the difference between buyer and seller's agents and how buyer's agents are compensated is essential. You may likely be asked to sign a buyer's agency agreement.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 70

Redfin

MARCH 4, 2025

Of course, you may need specific paperwork depending on your situation or local laws in your area, so be sure to consult with your real estate agent or attorney during the home selling process. As a seller, a pre-listing home inspection can help you identify defects in your home before you put it on the market.

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Purchase and sale agreement Title Inspection Pre-approval 31

HomeLight

AUGUST 31, 2021

These are all areas where a knowledgeable buyer’s agent who’s got lots of new-build experience and local builder connections can be invaluable. And if you thought buying new construction without an agent would save you a few bucks in commission, think again. In this article: The value of a real estate agent in buying new construction.

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Agents New Construction Purchase and sale agreement Construction 128

HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Signing the purchase agreement: 1-3 days. So if you list your home on Jan.

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Closing Purchase and sale agreement Pre-approval Inspection 116

HomeLight

JANUARY 5, 2022

Real Estate Agent. Real Estate Agent at The Kaminsky Real Estate Group. Do: Consider hiring a real estate agent. Hiring a real estate agent is not compulsory when you sell a house to a friend. It’s always tougher to negotiate with a friend,” says Edward Kaminsky , a top real estate agent in Los Angeles County. “If

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Pre-approval Purchase and sale agreement Title search Title 112

HomeLight

NOVEMBER 16, 2021

We examined a range of programs for you to explore and consulted an experienced agent to help you understand what’s available and whether it’d be a good fit for you. Through the Home Partners program, prospective rent-to-own homebuyers start by filling out a pre-qualification application. Source: (Jonathan Francisca / Unsplash).

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Purchase and sale agreement Pre-approval Debt-to-income ratio Pre-qualification 105

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. 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. Loan approval. Easy, right?

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Closing Purchase and sale agreement Title search Earnest money deposit 120

HomeLight

SEPTEMBER 15, 2021

Even if you’re listing your home without a Realtor’s® help, you’ll still need to gather the necessary paperwork for the sale and fill it out correctly. We hope it helps illuminate this tricky part of the sale, while giving you an honest idea of just how complex real estate transactions can be! Original sale contract.

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Purchase and sale agreement Inspection Title Pre-approval 116

Lab Coat Agents

NOVEMBER 20, 2024

An assumable mortgage is a financial agreement where the buyer takes over the seller’s existing mortgage. The seller’s lender must approve the assumption, guaranteeing the buyer is creditworthy and capable of managing the mortgage payments. However, the lender’s approval is still needed for the assumption process.

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Purchase and sale agreement Mortgages Pre-approval VA loan 98

Toronto Realty Blog

FEBRUARY 27, 2023

Thank you for taking us back to that place that we all thought we had left for good: pre-construction. about the pre-construction condo industry just as soon as this blog was launched back in 2007. Pre-construction “experts.” Blog reader Densha asked about pre-construction condo delays and it’s a good topic.

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Construction Pre-approval Purchase and sale agreement Development 97

HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

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Sales Purchase and sale agreement Inspection Due diligence 106

HomeLight

JUNE 23, 2022

In many cases, if a homebuyer wants to back out of a contract and retrieve their earnest money, they’ll be able to find a way to do so within the confines of the real estate purchase contract. The typical amount is around 1% of the purchase price (ex. $5k 5k for a $500K home). Is earnest money refundable?

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Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 112

HomeLight

AUGUST 11, 2022

If you own the home with your spouse or partner, the process is relatively straightforward when both parties are available to sign all of the documents involved in the sale process. Oldham and his wife Jennifer are top-selling agents in California who work with 70% more single-family homes than the average San Jose area agent.

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Purchase and sale agreement Title Pre-approval Tenancy in common 136

HomeLight

MARCH 28, 2025

And then, unexpectedly, the home sale falls through. Thats one in seven pending home sales and one in seven life chapters placed on hold. Historically, a more typical average of canceled pending sales is 5%6%. Make a strong offer with no home sale contingency. Maybe you even found your next house and started packing.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 52

Realty Biz

MAY 1, 2022

To make an informed decision, it’s important to understand the following: 1) What is the inventory of houses for sale? You don’t want to hang your hat on a seller looking at a pre-approval letter from some no-name lender. Lean on your buyer’s agent for what they have seen with other properties.

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Purchase and sale agreement Rent back Inspection Pre-approval 145

HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. Short sales or foreclosures in your area have driven home prices artificially low.

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HomeLight

NOVEMBER 13, 2024

Could a rent-to-own agreement be just right? Just 1% of homebuyers purchase the home they previously rented, according to a 2024 report from the National Association of Realtors. Find Agent What is a rent-to-own home? The big difference is, you pay an option fee to purchase the home at a later date.

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Purchase and sale agreement Debt-to-income ratio Agents Mortgages 98

First Team Real Estate

DECEMBER 7, 2020

Here’s how to review details in a tidy, orderly manner so you can make sense of your home sale. With multiple-offer scenarios being the standard in hot markets today, understanding how to browse a pile of home offers and backup offers is what First Team agents do best for their clients by supplying the very best counsel possible.

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Purchase and sale agreement Pre-approval Title Backup offer 98

Easy Agent Pro

SEPTEMBER 5, 2023

By becoming familiar with local market dynamics, setting realistic budget goals, and working alongside an experienced real estate agent, you can position yourself as a powerful and informed buyer. Carefully consider factors like inventory levels, average sale prices, and average days on the market before making decisions.

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Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 104

HomeLight

JUNE 28, 2021

Your real estate agent has been forwarding you offers on your home all day. Why do some offers have one price on the purchase agreement and another price on the escalation addendum? An offer your friend submits to escalate the purchase price doesn’t qualify. The buyer will generally specify a maximum purchase price.

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Earnest money deposit Purchase and sale agreement Pre-approval Pre-qualification 99

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. If you need to move even more swiftly than that, selling to an online direct buyer through a platform like HomeLight’s Simple Sale could take as little as 10 days.

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Purchase and sale agreement Home sale contingency Title search Inspection 105

HomeLight

SEPTEMBER 13, 2022

With some guidance from a top real estate agent and a veteran real estate attorney, we’ll cover seven important steps to consider when selling a house to a family member, as well as some questions you might have about the process. This means the buyer and seller have a pre-existing relationship of some kind (i.e.

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Purchase and sale agreement Title Title search Finance 111

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

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Sales Purchase and sale agreement Earnest money deposit Investor 93