Remove Closing costs Remove MLS Remove VA loan
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GSEs will not count buyer agent commissions as IPCs

Housing Wire

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered.

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NAR, MBA ask for clarification on underwriting rules

Housing Wire

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. Sellers or buyers can pay the buyer’s agent’s fees.

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NAR president vows to continue to fight commission lawsuits

Housing Wire

They’re going to struggle to come up with closing costs in addition to that, and what we don’t want to see is the marginalization of those buyers … our first-time homebuyers, our first-generation homebuyers and even our middle and low-income buyers. However, Kasper said these is no way replace the MLS.

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What Home Sellers Need to Know about Closing Costs in Kentucky

HomeLight

In Kentucky, the average closing costs for sellers are approximately 2% of the sale price or $3,000 for a $150,000 home (which is the average selling price across the state) and the agent’s commission, which is 5-6% of the sale price or up to $9,000 on a $150,000 home sale for a total of approximately $12,000 in costs.

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Opinion: Realtors, it’s time to raise your voice for consumers

Real Trends

And yet, in today’s world of technology, instant gratification and misinformation, local MLS broker marketplaces and real estate professionals can be taken for granted. You understand and provide guidance on the financial aspects of the transaction, like mortgage rates, closing costs and appraisals.

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Assumable Mortgages: What to Know Before Taking Over a Home Loan

Redfin

The seller must also be in good standing with their loan, meaning it cannot be delinquent. VA loans VA loans are specifically designed for eligible veterans, active-duty service members, and certain surviving spouses. to 1% of the original loan), title fees , and recording fees.

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Selling a House ‘As Is’ in North Carolina

HomeLight

MLS has field to mark a listing “as is”? Real estate attorneys are considered essential for closing in the state of North Carolina. Schaus does business in the area of Fort Bragg, which means that Department of Veterans Affairs home loans ( VA loans ) are used very often by buyers. Disclosures.

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