Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

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VA loan Agents Seller concession FHA loan 482

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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Short sale Closing costs Closing Sales 98

Housing Wire

NOVEMBER 15, 2023

Asked if they felt their compensation should change depending on the market and economy, 61.5% Here’s a sample of some responses: “What’s being proposed will eliminate upside in good years and devastate in tough years in the market,” one respondent said. Many respondents said they are using buyer-broker agreements.

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Purchase and sale agreement MLS Agents FHA loan 468

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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Purchase and sale agreement Property Management Hard money loan Investor 105

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

Redfin

JANUARY 26, 2022

One of these important pieces of paperwork is a purchase and sale agreement. . To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. What is a purchase and sale agreement?

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Purchase and sale agreement Earnest money deposit Sales Title 59

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

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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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 105

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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Purchase and sale agreement Staging Agents Brokerage 105

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. This step of the buying/selling process comes with its own set of costs. Two main property-related closing costs for buyers are the appraisal and the home inspection.

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Closing costs Closing Purchase and sale agreement Seller concession 52

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

Marco Santarelli

APRIL 4, 2025

Economic Influence : The recent tariff announcement has intensified market uncertainty, causing a decline in mortgage rates but leading to inflation concerns. Refinance Rates : Similar to purchasing rates, refinance rates have also dropped, now averaging 6.49% for 30-year mortgages. by the end of 2025. by the end of the year.

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Mortgages Debt-to-income ratio Purchase and sale agreement Loans 73

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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Purchase and sale agreement Sales MLS Closing 98

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 43

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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Purchase and sale agreement Inspection Marketing Seller disclosure 105

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

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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Earnest money deposit Purchase and sale agreement Closing costs Closing 111

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

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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Purchase and sale agreement Renovation Equity Mortgages 104

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 111

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

Redfin

MARCH 26, 2025

This protective clause in your purchase agreement can save you thousands if your mortgage falls through, but in todays competitive market, some buyers are tempted to waive it. This contingency gives you a legal out if something unexpected prevents you from closing. You have a strong pre-approval.

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Finance Pre-approval Purchase and sale agreement Earnest money deposit 52

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