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Opinion: What you need to know for a successful real estate transaction

Housing Wire

Buyers, sellers and lenders all have a stake in the sale, and title and escrow ensure that everyone’s interests are protected. They also help to prevent fraud and ensure that the sale is conducted legally and ethically. Another benefit of title and escrow is that they streamline the real estate transaction process.

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How Long Does It Take to Close On a House With Cash in 2022? Here’s Your Timeline

HomeLight

If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. A cash sale: Start to finish.

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How Long Does a Short Sale Take? What to Expect When You’re Buying Short

HomeLight

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? Source: (Freedomz / ShutterStock).

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

There’s a house for sale that you want to buy. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process.

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Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor.com

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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A Seller’s Guide To When A Buyer Does and Doesn’t Get Their Earnest Money Back

HomeLight

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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Understanding Mortgage Terms for Home Buyers

Realty Biz

Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. In a mortgage agreement, the buyer borrows money from the lender (usually a bank) and agrees to pay it back with interest over a specified period. Principal : The amount of money you borrowed to buy the home.