Housing Wire

MAY 17, 2023

Utilizing automated valuation models instead of full-blown appraisals or title searches in lieu of title policies makes loan production less expensive and more rapid,” according to the report. “If Tappable home equity is expected to decrease to a forecasted $18.1 trillion as of the fourth quarter of 2023 from an expected $19.4

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Housing Wire

JUNE 8, 2023

“The title I have used to frame this discussion for the past few months is ‘storm warning or calm seas?’” Is this a big deal or not a big deal for those of use in the title industry and the real estate industry generally?” Many in the title industry would argue that Fannie Mae ’s acceptance of AOLs is a big deal.

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Housing Wire

AUGUST 30, 2021

A shift in household economics strained finances, so lower interest rates and cash-outs became attractive. Title is the key to unlocking the transaction slowdown. While much innovation has been focused on the upstream, consumer-facing processes, one of the industry’s largest transactional quagmires – title – remains largely untouched.

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Housing Wire

DECEMBER 27, 2023

The title industry has worked hard over the last few years to shed that reputation. It has begun to adopt and integrate more and more technology into the title search and production process. While many in title are optimistic about the advances AI could help the industry make, there are certainly some concerns.

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Housing Wire

MARCH 27, 2023

Fannie Mae and Freddie Mac, which have been in conservatorship since 2008, have long required title insurance policies on loans they purchase from lenders. This is because title insurance provides the most comprehensive protection of property rights. Title insurance is regulated at the state level.

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CT Homes

JULY 6, 2020

In this post, we’ll cover the main contingencies lender-financed offers typically have, and what the main drawbacks of such offers are. The most common contingency issue when dealing with “financed” buyers is getting final mortgage approval with the buyer’s lender. Financing Obstacles. Closing Peri od.

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RIS Media

APRIL 8, 2022

Finances falling through. Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. The title search reveals issues. Contingent meaning.

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HomeLight

MAY 28, 2021

A seller may lack the resources or finances to complete repairs at the moment and doesn’t want to have that contingency to sell the home. You think it’s almost too good to be true when you see one crucial caveat: It’s selling “as-is.” Red flags pop immediately into your head; you assume that can only be a nightmare.

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Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Unlike purchasing a ready-made home, it offers the flexibility to design and build according to personal or business needs. This guide will navigate you through these complexities.

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HomeLight

JANUARY 17, 2024

Here are some common reasons why you might decide to back out of a home purchase: Your loan financing fell through: It’s not uncommon for a mortgage loan to be initially approved but later denied due to changes in your financial situation or lending policies. But what’s the real meaning of backing out of a home purchase?

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HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common. Financing issues. Why do sellers love cash so much?

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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. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Clear the title.

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Realty Biz

DECEMBER 8, 2022

Here are all of the steps to consider in order to get financing for a home purchase. Your debt-to-income ratio is an important consideration when lenders look at your finances. But whatever your DTI ratio, you should try to ensure you do not commit to a mortgage that over-restricts your finances. How to Get a Mortgage.

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Norada Real Estate

APRIL 15, 2023

Additionally, the type of financing being used, such as FHA or VA loans, can also impact the length of the under-contract period. Financing Contingency Another factor that can impact the length of the under-contract period is the financing contingency. But how long can a house be under contract?

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HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. It almost certainly will not move as quickly as anticipated. Dodge move.

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CT Homes

JANUARY 1, 2023

If your buyer’s financing fell through at the last moment, it’s likely due to an obstable encountered along the way, but by anticipating those fallbacks, you can hopefully identify a solution. In this post, we’ll cover the main contingencies lender-financed offers typically have and the main drawbacks of such offers. 5 Common Reasons.

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Lighter Side of Real Estate

AUGUST 5, 2020

If you haven’t actually qualified for financing, you should hold off on going to look at houses with a real estate agent (or even going to open houses), since there’s no guarantee that a mortgage company can lend you the money. Homeownership is one of the central tenets of contemporary life. Get hung up on properties outside your price range.

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HomeLight

MAY 24, 2022

Every home sale has its quirks, but in general, “a cash sale can be turned over in a week to two weeks,” according to Suz Poepke Pohl, owner and escrow agent at Cygneture Title for the past 10 years. Many companies combine title and escrow services under one roof, as their functions are closely interrelated. Why pay cash for a home?

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HomeLight

JUNE 23, 2022

It is usually held in the broker’s or title company’s trust or escrow account until closing. DISCLAIMER: This blog post is meant to be used for informational purposes only, not legal advice. What is earnest money? Earnest money is often referred to as a “good faith” deposit. The typical amount is around 1% of the purchase price (ex. $5k

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RIS Media

JANUARY 18, 2022

A title search may reveal a lien on the property, the buyer may be unable to get financing because of a low credit score or high debt-to-income ratio, or the house may appraise for less than the agreed-upon price. Common contingencies relate to a home inspection and financing, but there may be others.

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HomeLight

OCTOBER 31, 2024

Let’s take a look at which fees might qualify for tax deductions and which can reduce your capital gains taxes. What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

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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. But what really goes on during a property history search? A title search is very important.

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HomeLight

AUGUST 24, 2022

However, this buyer needs a mortgage to finance the deal, and that can take months. Disclaimer: A friendly reminder, information in this blog post is meant to be used for educational purposes only, not as a substitute for professional tax or legal advice. Good news: Housing in the Sunshine State couldn’t be a hotter commodity.

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RIS Media

SEPTEMBER 21, 2020

If you’re searching for your first new home, you will likely hear many words that you’ve never heard before. Here are 15 homebuying terms you should become familiar with before you start your home search: . Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Source: Zillow.

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Realtor.com

NOVEMBER 28, 2022

There are some costs that aren’t usually calculated into APR, including the home appraisal, title search, title insurance , credit report , and transfer taxes. That said, the appraisal, credit report, title search, and title insurance should normally be fairly minor costs when compared with the cost of the loan.

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HomeLight

NOVEMBER 9, 2021

A traditional home sale in which a seller lists with an agent and a buyer finances with a mortgage takes approximately 18-30 days to go under contract, plus an additional 30-45 days to closing. Buyer’s financing method. If you need to sell your home pronto, now is a great time. Just how fast can you sell your home? Listing price.

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HomeLight

MARCH 31, 2021

Title search fee. After you accept the buyer’s offer, an attorney performs a title search to ensure the property is free and clear of liens or other conflicts of ownership. On average, title search fees run between $100 to $200. Title insurance. On average, title insurance costs between 0.5%

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Closing costs Closing Purchase and sale agreement Title search 105

HomeLight

JANUARY 5, 2022

Whether you have a mountain cabin, beach bungalow, ski slope condo, or beautiful home anywhere in the country, you’ve probably heard more than one visitor exclaim: “Wow! This place is gorgeous! If you ever decide to sell, please let me know.”. Well, that day has come. And, it turns out your friend is serious about buying your home. Find Agent.

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HomeLight

SEPTEMBER 13, 2022

DISCLAIMER: As a friendly reminder, this blog post is meant to be used for educational purposes only, not legal or tax advice. If you need assistance navigating the legalities or tax implications of selling a house to a family member, HomeLight always encourages you to reach out to your own advisor. family, friend, business affiliate, etc.).

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HomeLight

AUGUST 31, 2021

You’re reading through a new MLS listing, and you believe you found your ideal home. It’s spacious, in your perfect neighborhood, and at a surprisingly affordable price. 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. Undoubtedly your mind starts racing, “What does that mean?

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HomeLight

JULY 25, 2023

Sell Your House for Cash: Request an Offer Today HomeLight provides you with a convenient, no-obligation all-cash offer to buy your home, on your timeline. No repairs, no staging, no showings — and close in as little as 10 days. Request Offer However, selling a house for cash also usually means leaving some extra money on the table.

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HomeLight

JULY 31, 2022

You’ve decided it’s time to buy a house ! One of the first steps is to pick a real estate agent to work with. But what if you decide that you don’t want to work with a buyer’s agent to buy your home? Well, welcome to your step-by-step guide to buying a home without a real estate agent. Find a lender you can trust. Research your ideal neighborhoods.

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HomeLight

SEPTEMBER 1, 2022

These programs include: Connecticut Housing Finance Authority (CHFA) : The Connecticut Housing Finance Authority offers down payment assistance to first-time buyers in the form of a second mortgage called a DAP loan. Both the down payment and closing costs can be financed up to $20,000, with an interest rate of just 1.0%.

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Realty Biz

JULY 1, 2023

Navigating the escrow process is a critical aspect of home buying, ensuring a secure and smooth transaction for both buyers and sellers. Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. Selling your home can be a bumpy journey.

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Purchase and sale agreement Earnest money deposit Title search Pre-approval 77

Realty Biz

APRIL 20, 2022

Mortgage Financing Clause. Most home buyers do not have the finances available to buy without a mortgage. So financing is one of the common contingencies in an offer. Your credit score , income, and debt will contribute to the financing that is offered by lenders. Common Contingencies Found in an Offer to Purchase.

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HomeLight

JUNE 30, 2021

There are a number of factors to consider, and you’ll need to assess your finances and take your priorities into account. Making an offer on a house without a Realtor® or a real estate agent is kind of like trying to represent yourself in a court of law — it’s possible, but it’s not a good idea. Source: (KAROLINA GRABOWSKA / kaboompics).

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HomeLight

MARCH 2, 2023

This Pacific Coast city combines the urban vibes of art and culture alongside fun physical activities like surfing or boating. People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs.

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