Keeping Current Matters

JUNE 21, 2021

An agent can help you consider what levers you can pull that might be enticing to a seller, like: Offering flexible rent-back options to give the seller more time to move out. Your ability to do a quick close or make an offer that’s not contingent on the sale of your current home.

Inspection contingency 324

Inspection contingency Pre-approval Inspection Rent back 324

HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. 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.

Closing 118

Closing Earnest money deposit Sales Inspection 118

Realty Biz

MAY 1, 2022

Give The Seller Their Desired Closing Date. The seller’s closing date is often critical when competing with a cash offer. If a seller has purchased another home already, they may desire to line up their closing dates for simultaneous closings. Let The Seller Rent Back The House. Final Thoughts.

Purchase and sale agreement 145

Purchase and sale agreement Rent back Inspection Pre-approval 145

Realtor.com

DECEMBER 10, 2020

But even in a seller’s market, there are myriad opportunities to negotiate, from requesting home repairs to offering a speedy closing. Time to close. Pay close attention to the needs of the seller in regard to timelines,” Arienti says. Most homeowners have an idea of when they need or would like to close. Closing costs.

Closing costs 142

Closing costs Inspection Closing Rent back 142

HomeLight

JUNE 30, 2021

When you closed on your first home, you probably weren’t thinking that one day you’d want to sell. Getting the timing right — selling your old house, closing on a new house, and then moving into your new house — can be a challenge. They’re waiting for the sale of your house to close before they know for sure that their home will sell.

Rent back 105

Rent back Inspection contingency Earnest money deposit Finance 105

HomeLight

APRIL 22, 2024

Receive your offer in 24 hours and close in as few as 10 days. The company will then schedule the closing date according to your schedule. Close the sale: At the closing, you’ll sign some paperwork and receive the cash for your home via wire transfer. No showings, no repairs, no open houses.

Rent back 111

Rent back Closing Sales As-is 111

First Team Real Estate

MAY 21, 2021

Offer to Rent Back to the Sellers. When purchasing your home with a mortgage, your first payment isn’t actually due until a month after you close escrow. A great way to sweeten your offer without crushing your finances is to offer the home seller a month of free “rent” so they have time to find a new home before moving out.

Purchase and sale agreement 98

Purchase and sale agreement Rent back Marketing Agents 98

Realty Biz

MAY 16, 2021

A lot of home sellers have tried to get around the problem by asking for a leaseback or rent-back agreement after the transaction has closed, to give them more time to find a new home. Such an option enables the seller to rent the home back from the buyer for a specified period of time at an agreed upon rate.

Purchase and sale agreement 74

Purchase and sale agreement Rent back Sales As-is 74

HomeLight

FEBRUARY 28, 2022

But having a lot of equity in your home doesn’t mean you have immediate access to it – you’ll typically have to sell your house and close on it before you can use that money as a down payment on a new home. The challenge used to be getting a buyer to agree to allowing the seller to stay in the home past the closing date. Transactions.

Equity 126

Equity Debt-to-income ratio Loans Closing 126

HomeLight

APRIL 17, 2024

Both promise to buy your home for cash, and close quickly. This enables you to skip many of the typical hassles of selling a house (repairs, showings, open houses), and close in as little as 10 days. ” Opendoor will let you stay in your house up to 17 days after you close through their Late Checkout program.

Seller concession 115

Seller concession Inspection Rent back Closing 115

The Close

APRIL 28, 2022

Born from the needs of mortgage buyers to compete with cash buyers, cash lenders will buy a home with cash then allow the buyer to refinance or purchase the property after closing. Once the property is purchased, the buyer rents the property from Homeward until their loan is finalized. Pay the Seller’s Closing Costs.

Rent back 105

Rent back Closing costs Finance Agents 105

HomeLight

APRIL 29, 2021

You’ll simply show the house to a few buyers, pick the best offer, wait for closing, and pocket some cash. Closing can take more than a month. Your buyer’s loan approval is often the closing step that takes the longest. Ellie Mae estimates that it takes 46 days on average to close a loan. Landscaping: 100 %.

Purchase and sale agreement 98

Purchase and sale agreement Pre-approval Inspection Inspection contingency 98

HomeLight

JANUARY 7, 2022

Your timeline: Do you have any flexibility around moving and closing dates? If your offer is accepted, your agent may also recommend a longer closing time, so you’re able to sell your home and use your equity for the down payment if possible. Enclave Team. Real Estate Agent. Enclave Team. Real Estate Agent at RE/MAX Results.

Equity 105

Equity Loans Debt-to-income ratio Closing 105

RIS Media

APRIL 18, 2022

Allowing the seller to rent back for a specified amount of time. The requested closing date. Buyers are waiving a home inspection. Buyers are waiving their home appraisal or offering an appraisal gap guarantee. Getting rid of the mortgage financing clause in their offer. Speak to your real estate agent about what to expect.

Pre-approval 119

Pre-approval Backup offer Due diligence Rent back 119

First Team Real Estate

MAY 25, 2021

You are likely to pay little to no closing costs, no repairs, and cash out big. However, if you plan to buy after you sell – it’s going to be tough.

Rent back 98

Rent back Closing costs Sales Mortgages 98

HomeLight

JULY 29, 2022

While you’re likely to sell your home quickly – possibly above asking, with few to no contingencies , and possibly a quick close – you may experience difficulty finding the next one. Transition via rent back. Extend the closing period. According to Barber, the second-most popular option is extending the closing period.

Debt-to-income ratio 111

Debt-to-income ratio Loans Rent back Agents 111

HomeLight

AUGUST 17, 2022

Asking the other agent how many offers they have, if there’s anything that might help with the offer — such as a particular closing date or a rent-back situation — I think you have to be a very creative agent right now. Leanne Hester. Real Estate Agent. Leanne Hester. Real Estate Agent at Liz Moore and Associates LLC.

Mortgages 108

Mortgages Rent back Fixed-rate mortgage Banks 108

HomeLight

APRIL 21, 2022

According to a 2021 National Association of Realtors® survey, financing difficulties were responsible for 29% of closing delays and 10% of terminated contracts. If you accept it, your sale can close in as few as 10 days, often concluding with a moving date of your choosing. We’ll provide a no-obligation, all-cash offer within 48 hours.

Inspection contingency 111

Inspection contingency Home sale contingency Pre-approval Agents 111

HomeLight

MARCH 31, 2022

Cash offers or flexibility in choosing a closing date can also be attractive enticements to a seller. In a market where a seller is having difficulty finding buyers, they will be much more open to locking in a buyer, even if it means being forced to wait to close the deal. Extend the closing time. Rent back to the seller.

Home sale contingency 104

Home sale contingency Sales Purchase and sale agreement Inspection contingency 104

HomeLight

NOVEMBER 30, 2023

Sellers typically favor buyers who have more cash to put into the purchase — this reassures them that the deal is more likely to close. They’ll know what sellers are asking for in your area — from rent-back periods to an extended close date — and what could make your offer stand out.

Rent back 85

Rent back Agents Renovation Mortgages 85

HomeLight

OCTOBER 1, 2020

Are you able to offer the seller more time to stay in the home, or suggest a rent-back agreement? With a rent-back agreement , the seller stays in the home post-closing, giving them more time and giving you leverage.). Can you offer a rent-back agreement to the seller?

Purchase and sale agreement 98

Purchase and sale agreement Short sale Rent back Sales 98

RIS Media

JULY 8, 2021

Agents can help buyers write the very best initial offer by contacting the listing agent to find out their preferred terms for closing dates and occupancy, rent backs if necessary, financing or cash options, so that they can put the best terms in their initial offer. Be relentless and resourceful.

Marketing 105

Marketing MLS Rent back Agents 105

HomeLight

MARCH 20, 2023

They’ve accepted an offer and set a closing date, thus their current home sale just needs to be “settled” in order for the purchase of the new home to go through. Thus, the offer on their new home would be contingent on them first finding buyers and then closing the sale on their current home. Offer to pay the seller’s closing costs.

Home sale contingency 105

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

HomeLight

MARCH 28, 2022

Close in as little as 10 days. Otherwise, it’s possible that you would need to pay money at closing to settle up. Also known as a seller rent-back agreement or a holdover , this allows you to stay in your home for a designated period ?of Sellers have the ability to close in as little as 10 days. Request Offer.

Purchase and sale agreement 119

Purchase and sale agreement Equity Agents Staging 119

Realtor.com

JANUARY 6, 2021

. “Since West oversaw the redesign and owns the home, a sensible compromise would be for him to keep it and for her to build on the surrounding land for herself and stay in the home via some type of rent-back until the project is done,” says Cedric Stewart , a real estate agent with Keller Williams Capital Properties in Washington, DC.

Land 105

Land Rent back Design Renovation 105

HomeLight

NOVEMBER 10, 2021

They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. A good agent will reach out to the seller’s agent and ask about non-financial perks, such as a flexible closing timeline or rent-back period, that could seal the deal.

Inspection 98

Inspection Title Agents Pre-approval 98

HomeLight

AUGUST 26, 2021

make a counter-offer (asking for a higher price, different dates on the closing timeline, or different terms or conditions, perhaps), or reject your offer — you will have to start over and make an entirely new offer if you still want this house. You might not hear back at all, that said! The seller doesn’t know about your offer yet.

Short sale 105

Short sale Banks Agents Rent back 105

Real Trends

MARCH 3, 2022

If you have clients that are thinking about offering, keep in mind that the offers we have already received are well above list price, have waived inspection and appraisal, and are willing to honor the Seller’s request of a free 60-day rent-back.”

Agents 104

Agents Due diligence Inspection Rent back 104

HomeLight

AUGUST 31, 2021

From a seller’s point of view, if there are two offers that are otherwise identical, and one buyer can pay cash, the cash offer is likely to be viewed as the stronger offer because the buyer 1) definitely has the money, which means that they can 2) close quickly. If sellers get paid at closing either way, why is cash better?

Due diligence 106

Due diligence Inspection Pre-approval Pre-qualification 106

HomeLight

AUGUST 16, 2022

Sellers aren’t always driven by the sales price alone — including a rent-back opportunity or a quick closing date could be the difference between a seller saying “no thanks” and choosing to take a closer look. Mortgage rates are affecting buyers, but I wouldn’t say that rates are keeping them from buying homes. Leanne Hester.

Mortgages 135

Mortgages Fixed-rate mortgage Agents Rent back 135

Redfin

MAY 27, 2021

We offered over the list price, added lucky numbers in the offer amount, appraisal gap, waived the home inspection, offered free rent back to the sellers, and more,” said Denver Redfin agent Hunter Owens. Offering a rent-back agreement could sweeten the deal. “My My buyers were overjoyed.”.

Agents 66

Agents Rent back Inspection Closing 66

Windemere Selling

JUNE 14, 2021

By working closely with your agent , you can negotiate a longer closing period or a rent-back agreement with the new owners. Depending on the buyer’s urgency to move in and the competitiveness of the market , a rent-back agreement may not be feasible, but in the right situation it presents a mutually beneficial solution.

Rent back 52

Rent back Staging Closing Agents 52

Realty Biz

JULY 7, 2021

It’s the preapproval letter that tells the seller that you’re serious about buying their home and highly likely to close the deal. The type of contingencies that you might want to skip is for the seller to pay part of your closing costs or for a home warranty. Offer to rent back to the seller.

Inspection contingency 87

Inspection contingency Marketing Inspection Rent back 87

HomeLight

FEBRUARY 4, 2022

Coordinate with the closing attorney and seller’s agent to finalize the sale. … and being able to close within a period of time that works for both you and the seller. Think mortgage lenders , inspectors, appraisers, closing attorneys, repair professionals, and lots more. Help you identify possible opportunities for negotiation.

Agents 115

Agents Purchase and sale agreement Due diligence Inspection 115

Redfin

MAY 7, 2021

You can typically close within 10 to 60 days after accepting the iBuyer’s offer. Buyers are often willing to offer incentives to close the deal, and they might be more flexible on the timing. You can also consider requesting a rent-back agreement from potential homebuyers.

Purchase and sale agreement 80

Purchase and sale agreement Marketing Equity Loans 80

HomeLight

JANUARY 28, 2021

Another option may be to negotiate a rent-back agreement with a buyer to stay in the home an additional 30-60 days past closing, giving you the time to line up your next place. A Move Safe agent prioritizes digital tools and virtual closings, as well as cleaning the property between showings. Source: (CDC / Unsplash).

As-is 105

As-is Purchase and sale agreement Agents Equity 105

HomeLight

SEPTEMBER 30, 2020

On the flip side, the U&O can allow the seller to remain in the home for a certain amount of time after closing (also known as a “rent-back” agreement). Marc Lagrois , a top Michigan real estate agent, says occupancy after closing is a very common occurrence. The buyer needs to move in prior to closing.

Purchase and sale agreement 75

Purchase and sale agreement Closing Rent back Principal 75