HomeLight

JULY 23, 2024

As a seller, you’ll first encounter a purchase agreement when you receive an offer from a buyer. The purchase agreement outlines the buyer’s offer price, along with contingencies , financing terms, closing costs , possession date, and more. Curious What Your Home Is Worth?

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Purchase and sale agreement Sales Closing costs Finance 115

Housing Wire

AUGUST 19, 2024

They do not mention commissions at all in their marketing and on their websites. The groups criticizing CFA, and by extension, DOJ, argue that uncoupling commissions will harm first-time home buyers, especially Black and Hispanic homebuyers who may have limited resources to pay down payment and closing costs.

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Purchase and sale agreement Finance Industrial Agents 459

Housing Wire

MARCH 21, 2024

(FICO), the company that retains the rights to the mortgage market’s adopted methodology to measure consumer credit risk. per FICO score, and that constitutes less than two-tenths of 1% of the average closing costs of $6,000 per mortgage and is 15% or less of the average cost of a $70 tri-merge credit report.”

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Mortgages Purchase and sale agreement Closing costs Finance 476

HomeLight

SEPTEMBER 30, 2020

Unexpected setbacks and misfortunes happen, whether that stems from a dramatic housing market downturn, getting laid off, or any other wrenches that life (or a worldwide pandemic) throws into your plans. If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales 101.

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HomeLight

OCTOBER 20, 2021

Whether you sell your home FSBO (for sale by owner) or with the help of a top real estate agent , you will enter into a purchase agreement that will come from the buyer or buyer’s agent. Missteps or misunderstandings in this important contract can delay the sale of your home or even box you into a bad deal.

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Purchase and sale agreement Earnest money deposit Inspection Finance 102

The Close

NOVEMBER 25, 2024

In this “How to Buy a Multifamily Property” guide, I’ll walk you through deciding which type of multifamily property you want to purchase, picking the right lender, and running the numbers to ensure profitability. By the end, you’ll be confident and ready to dive into the multifamily market. What Is Multifamily Property?

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HomeLight

APRIL 14, 2023

Your California dream home has just come on the market, and you’re eager to make an offer. But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs?

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Closing costs Closing Purchase and sale agreement Title 105

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. Typical seller closing costs.

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Closing costs Closing Seller concession Purchase and sale agreement 97

Realty Biz

JULY 6, 2023

Two common strategies sellers use to entice potential buyers are offering a closing cost credit or a price reduction. A seller credit, or a closing cost credit, is an agreement where the seller agrees to pay a portion of the buyer's closing costs. What Is a Seller Credit? Let's take a look.

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Closing costs Closing Purchase and sale agreement Seller concession 85

HomeLight

NOVEMBER 1, 2021

If you’re selling your Kentucky home, you may be wondering how much you’ll make on the sale, what required costs will eat into your profit, and where you can cut costs. This means understanding which fees you’ll be responsible for when the sale closes. What are closing costs? Closing cost.

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Closing costs Closing Purchase and sale agreement VA loan 98

HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase.

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Closing costs Closing Purchase and sale agreement Title search 104

HomeLight

APRIL 19, 2022

Gone are the days where a simple handshake could solidify a working agreement between a buyer and their real estate agent. Instead of a handshake, buyer’s agents are presenting homebuyers with a document called a “buyer broker agreement” — and you might not know what that is! Buyer-broker agreements, explained.

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Purchase and sale agreement Agents Inspection Brokerage 111

Toronto Realty Blog

AUGUST 12, 2022

“When did you purchase the assignment?” ” I don’t know what would be worse: wanting to assign a pre-construction condo that you purchased two days ago, or wanting to sell a pre-construction condo that you bought in February at the market peak. . “I think it was the second or third week of February.”

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HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

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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. We’ll fill you in on what obligation (if any) you have to your agent and what your options are to complete the sale.

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Realty Biz

JANUARY 19, 2024

By following these steps, you can easily navigate the real estate market. From three decades working as a Realtor, there are common denominators for first-time home buyers going through the purchase process with ease. This includes understanding the terminology, legal aspects, and financial considerations of purchasing a property.

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

HomeLight

NOVEMBER 9, 2021

You just heard about short sales, and they sound intriguing. But it would be a mistake to think you’re automatically getting a deal with a short sale. He points out that the bank isn’t likely to sell the property for less than market value. Short sales fall into the category of “distressed” sales.

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Toronto Realty Blog

JANUARY 27, 2023

When the market is hot, fewer properties are sold conditionally, but some still are. And in a changing market, like the one we’re in right now, we’re accustomed to seeing many listings appearing as “sold conditionally” on MLS. Let’s say my house is on the market for $1,500,000.

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Realtor.com

NOVEMBER 15, 2022

This means navigating the highs and lows of the real estate market and strategizing ways to improve the terms of the deal on the table. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees.

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Seller concession Purchase and sale agreement Closing costs Title search 121

HomeLight

JULY 12, 2024

You can then make a strong offer on your next home with no home sale contingency. This ensures that both the buyer and the seller fulfill their respective obligations before the sale is finalized. During the escrow period, several key activities take place to ensure the home sale stays on track.

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Purchase and sale agreement Earnest money deposit Home sale contingency Title search 111

Realty Biz

JUNE 22, 2021

For example, there are substantial closing costs a buyer will pay when purchasing a home and getting a mortgage. You could look at the payment of the closing costs as a seller assist to the buyer’s benefit. The sale is being structured to accommodate the buyer’s financial situation.

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Seller concession Closing costs Purchase and sale agreement Closing 128

HomeLight

AUGUST 31, 2021

But what if a portion of your rent were going toward purchasing your rental home at a later date? Rent-to-own basics: Crediting rent toward a future purchase. A rent-to-own deal means you can start paying toward a home purchase even if you can’t technically qualify for a mortgage yet. Source: ( Shopify Partners / Burst ).

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Purchase and sale agreement Due diligence Closing costs Mortgages 124

Realty Biz

DECEMBER 15, 2022

These days, having a neutral third party to make sure everyone is satisfied with the sale and purchase can give both buyer and seller more peace of mind. . Many home buyers and sellers know that escrow is a financial arrangement with a third party who holds money or other property until the terms of the sale are complete.

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Purchase and sale agreement Inspection Title Finance 127

HomeLight

OCTOBER 9, 2024

The sale of a home is often attached to big life changes stamped with a deadline. Even in an active housing market, timing your sale can be challenging. In this post, we share 20 tips used by top real estate agents to show you how to sell a house fast in a slow market. Looking to Sell Fast?

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Easy Agent Pro

SEPTEMBER 5, 2023

In today’s competitive real estate market , bidding wars have become common. Here, we’ll explore several novel yet effective ways of outwitting competition and increasing your chances of successful bidding in competitive markets. Start by researching the current market conditions where you intend to buy a property.

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HomeLight

JUNE 29, 2022

Before you post the “for sale” sign in your front yard, it’s important to prepare yourself for a critical part of the home-selling process : negotiating with buyers. The good news is that with a little planning and forethought, you can sit at the closing table with confidence, knowing your best interests are represented.

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HomeLight

JULY 30, 2021

We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements.

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Purchase and sale agreement Debt-to-income ratio Pre-qualification Inspection 98

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. Let’s dive right in! Why rent to own?

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Purchase and sale agreement Loans Inspection Closing costs 116

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? Here are five seller concessions that I’m using that can help navigate today’s market: 1. Home repairs One way of receiving seller concessions is when the seller agrees to pay for the buyer’s repair costs.

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Seller concession Closing costs Purchase and sale agreement Inspection contingency 76

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” An assumable mortgage is a type of home loan that allows a new buyer to take over the seller’s existing loan terms as part of the property purchase.

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Loans Purchase and sale agreement VA loan Mortgages 119

Redfin

MARCH 18, 2025

When buying a home, youll likely come across the term earnest money – a deposit that shows the seller youre serious about the purchase. But what actually happens to that money once the deal closes? At closing, your earnest money doesnt just disappear, it gets applied toward the costs of purchasing the home.

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Closing Purchase and sale agreement Earnest money deposit Seller concession 33

HomeLight

JULY 29, 2022

If you’re in this demographic and looking for a house in retirement, chances are your priorities have changed from when you purchased your first home. This is why purchasing a home in an area where property values are on the rise can be a smart and profitable move. Maintenance and repairs. Higher monthly housing expense.

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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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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. Once the agreement term concludes, you pay a down payment, secure a mortgage, and transition from tenant to owner. It’s typically between 2.5%

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

HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property.

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Closing Purchase and sale agreement Title search Earnest money deposit 119

The Close

SEPTEMBER 19, 2024

These negotiation strategies are vital elements of real estate transactions and often determine the success or failure of a property sale. By mastering these techniques and learning from real estate counteroffer examples, agents can ensure that buyers and sellers achieve mutually beneficial agreements.

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Purchase and sale agreement Agents Inspection Home sale contingency 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. Receive your offer within a week and close in as little as 10 days. You may see some that market – or send out mailers – to certain niches.

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Sales Purchase and sale agreement Inspection Due diligence 105