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.

Pre-approval 90

Pre-approval Pre-qualification Title search Inspection 90

RIS Media

OCTOBER 2, 2020

A title search can reveal a variety of issues that may create financial or legal problems. Even if you were pre-approved when you started house hunting, your circumstances may have changed since then and you may no longer qualify for the same amount and loan terms. Problems With the House. Legal and Financial Matters.

Pre-approval 111

Pre-approval Title search Title Renovation 111

HomeLight

JULY 31, 2020

Loan approval. In fact, buyers should go one step further (if they can) and get pre-underwritten for a loan , which offers even more security for both buyers and sellers. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. It almost certainly will not move as quickly as anticipated.

Closing 119

Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

AUGUST 31, 2021

The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default.

Pre-approval 111

Pre-approval Short sale Banks Finance 111

Realty Biz

AUGUST 12, 2023

These can include title search fees, appraisal fees, attorney fees, and more. Pre-Approval : A written commitment from a lender stating the amount they are willing to lend to a borrower. Buying a home is a significant decision, and understanding mortgage terms can make the process smoother.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

HomeLight

JANUARY 12, 2022

And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. So if you list your home on Jan. 1 and accept an offer on Jan. How long each closing step takes.

Closing 116

Closing Purchase and sale agreement Pre-approval Inspection 116

Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. For example, if a home sale is contingent or pending, can you still make an offer? What does Contingent Mean?

Backup offer 111

Backup offer Home sale contingency Sales Earnest money deposit 111

HomeLight

OCTOBER 20, 2022

Many FSBO sellers will purchase a pre-listing appraisal. The buyer’s lender will probably require their own appraisal as part of their loan approval process. Preliminary title report. Pre-inspection. DISCLAIMER: As a friendly reminder, this blog post is meant to be used for educational purposes, not legal advice.

Purchase and sale agreement 111

Purchase and sale agreement Pre-approval Inspection Title 111

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.

Purchase and sale agreement 77

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

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

Earnest money deposit 111

Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 111

HomeLight

NOVEMBER 9, 2021

If you need to sell your home pronto, now is a great time. The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). Just how fast can you sell your home? You simply request a cash offer from fully vetted cash buyers.

Purchase and sale agreement 105

Purchase and sale agreement Home sale contingency Title search Inspection 105

Redfin

JULY 31, 2024

Prepare thoroughly : Improve your credit score, set a budget, and get pre-approved to streamline the home-buying process and secure a favorable mortgage. While lenders will pre-qualify you for a certain amount, it’s essential to ensure this fits within your overall financial picture.

Pre-approval 71

Pre-approval Pre-qualification Mortgages Loans 71

Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. What Is a Mortgage Pre-Approval? Buying your first home is a big deal. What Can I Afford?

Pre-qualification 56

Pre-qualification Pre-approval Closing costs Inspection 56

Realtor.com

JANUARY 2, 2023

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

New Construction 105

New Construction Construction Pre-approval Inspection 105

The Residential Specialist

JUNE 23, 2020

to streamline scheduling, Gmail Templates to create and send pre-written emails that quickly answer frequently asked questions, and Gmail’s Priority Inbox feature to automatically separate important emails from junk. REALTOR ® Mike DelRose Jr. Automation essentials. Automation is a means to an end—and that end is speed. Masterful marketing.

Pre-approval 98

Pre-approval Title search Technology Agents 98

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. Is it an understatement to say that buying a house can be a complicated process? Source: (JJ Badenhorst / Unsplash).

Purchase and sale agreement 81

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

HomeLight

SEPTEMBER 13, 2022

This means the buyer and seller have a pre-existing relationship of some kind (i.e. DISCLAIMER: As a friendly reminder, this blog post is meant to be used for educational purposes only, not legal or tax advice. Selling a house to a family member can be very rewarding. Selling a house to a family member can be very rewarding.

Purchase and sale agreement 111

Purchase and sale agreement Title Title search Finance 111

HomeLight

JANUARY 29, 2021

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. Meyer , an attorney whose decade-long practice includes probate, real estate, and title. Source: (Slidebean / Unsplash). Know where the mortgage stands.

Pre-approval 111

Pre-approval Title Renovation Title search 111

Redfin

MARCH 3, 2022

It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved. With that said, it’s recommended to work with a knowledgeable, local mortgage broker. “A

Closing 63

Closing Title search Purchase and sale agreement Title 63

Realtor.com

MARCH 10, 2021

When you are buying a home, you likely will start hearing some new real-estate and mortgage-related lingo, such as loan pre-approval, down payment, earnest money, escrow, closing costs, and more. There’s dreaming of buying a home—and there’s turning that dream into a reality. Fear not: There’s no need to get overwhelmed by the details.

Pre-approval 74

Pre-approval Closing costs Title search Finance 74

HomeLight

JUNE 30, 2021

Some states require only 40 hours of pre-licensing classes, while others may require more than 200 hours, for example. There are several different factors that determine home affordability and each lender can have its own mortgage approval standards when it comes to the buyer’s credit score, income, assets, debt, and liabilities.

Purchase and sale agreement 98

Purchase and sale agreement Inspection contingency Home sale contingency Inspection 98

Easy Agent Pro

NOVEMBER 12, 2021

Is this a buyer who is dragging his/her feet getting pre-approved for a mortgage? Actually, the posts are evenly split between homeowner topics and buying and selling topics. . That said, the agent said he’d prefer that his clients learn about down payment assistance and other such topics. Therein lies the problem, or problems.

Staging 115

Staging Pre-approval Title search Agents 115

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. While it’s long been considered a hub for big tech, the Bay Area, which includes San Francisco, Oakland, San José, and Sonoma, is also family friendly, diverse, and rich in arts, culture, and history.

Earnest money deposit 110

Earnest money deposit Closing Sales Title 110

HomeLight

MARCH 17, 2021

It takes a lot of planning and preparation, possibly even some soul-searching, to decide what’s the right move in your situation. The nav system also tells you how long it will take, so planning out your road trip is easy. After all, how can you know how long it takes to buy a house, and what do you have to keep in mind?

Pre-approval 98

Pre-approval Purchase and sale agreement Title Closing 98

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. This Pacific Coast city combines the urban vibes of art and culture alongside fun physical activities like surfing or boating. Looking to Buy Your Dream Home in San Diego?

Closing 118

Closing Earnest money deposit Sales Inspection 118

Point2Homes

JUNE 23, 2021

The best way to avoid this scenario is to get pre-approved with the lender selling that property. Even if your offer is taken into consideration, it can go through a lengthy approval process. Ideally, you should hire a company to run a full title search before closing to avoid unpleasant surprises.

Pre-approval 71

Pre-approval Banks Title search Inspection 71

HomeLight

JANUARY 3, 2022

Whether you should use an iBuyer (instant buyer) vs. real estate agent to sell your home is a hot debate in some real estate circles. But the right method comes down to personal preference more so than one method always being better than the other. Sellers then pick a move date, and can often close in as little as two weeks.

Agents 105

Agents Title Inspection Title search 105

HomeLight

NOVEMBER 9, 2021

For most transactions, the sale is contingent on factors specified in the contract, such as inspection , appraisal , and title search. But now you’ve made it: you have a buyer, an accepted offer , and you’re starting to exhale with much of the hard work behind you at last. How soon will I receive my home sale proceeds? California.

Purchase and sale agreement 106

Purchase and sale agreement Pre-approval Closing Title 106

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. A real estate short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance with the lender’s approval. What Happens in a Real Estate Short Sale?

Short sale 52

Short sale Sales Due diligence Purchase and sale agreement 52

Redfin

AUGUST 29, 2024

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). As interest rates are dropping , now may be the time to buy a house. Long-term goals Do you plan to live in an area for at least five years? 3,000/$7,000 = 0.42

Earnest money deposit 63

Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

HomeLight

AUGUST 31, 2021

Clear title: The cash buyer will require a title search to make sure that you can convey the property free and clear of any clouds or judgments against the property, such as mechanic’s liens, unpaid taxes, or boundary encroachments. Plus, you’ll save money on things like commissions, repairs, and closing costs.”.

Proof of funds 144

Proof of funds Investor Due diligence Title 144

Redfin

DECEMBER 15, 2023

Get pre-approved and secure your dream home Work with a lender to find the right loan for the home you love. Get pre-approved When is the right time to refinance your mortgage? In 2020, interest rates took a sharp dive as the Federal Reserve sought to stave off economic collapse amid the pandemic.

Fixed-rate mortgage 69

Fixed-rate mortgage Mortgages Title search Equity 69

HomeLight

DECEMBER 7, 2021

Usually, it’s the buyer, but the seller may schedule a pre-inspection before listing the home. It can necessitate a lot of preparation and cause a certain amount of anxiety, but a home inspection is an important part of the process when you’re selling a home. But what’s inspected? How can you prepare? And after the home inspection, what next?

Inspection 105

Inspection Purchase and sale agreement Pre-approval Closing 105

Redfin

AUGUST 3, 2022

Determining how much house you can afford is the first step in the home buying checklist – setting a realistic budget will relieve stress in the long run and help narrow your home search. Owning a beautiful home you can call your own is a dream come true. But it doesn’t have to be this way. Let’s get started. Know how much you can afford.

Pre-approval 76

Pre-approval Purchase and sale agreement Title Debt-to-income ratio 76

CT Homes

OCTOBER 28, 2021

When buying or selling a home, the topic of who pays closing costs is bound to come up eventually. Any real estate transaction will host numerous costs and fees that will be factored into the purchasing process on top of the property’s value. We’ll also settle once and for all who usually pays closing costs: the buyer or the seller?

Closing costs 75

Closing costs Closing Purchase and sale agreement Title 75

HomeLight

AUGUST 16, 2021

There’s a nervous energy as the unmistakable sound of an auctioneer’s chant fills the air, punctuated by a firm, “Going once, going twice, SOLD!” If you know anything about how to buy a house at auction, then you know that someone just became a homeowner. Where do home auctions take place, and how do I find one?

Title 111

Title Due diligence Finance Inspection 111

HomeLight

AUGUST 16, 2021

The mortgage loan process is pretty messy! It’s easy to forget an important document when you’re busy looking at houses and figuring out which one best suits your needs and budget. If you’re a list person, then you appreciate the value of keeping track of your items. Identification. Source: (NATNN / ShutterStock). 1099 forms.

Loans 105

Loans Mortgages Bankruptcy Purchase and sale agreement 105