Housing Wire

FEBRUARY 19, 2025

Secure a mortgage pre-approval As a rule of thumb, its best to have your clients obtain a mortgage pre-approval prior to setting up any searches and conducting property tours. Required documentation Save your clients some time by providing them with a list of the documents theyll need to get pre-approved.

Closing 248

Closing Earnest money deposit Due diligence Pre-approval 248

HomeLight

JUNE 23, 2022

It is simply a period of time that the buyer sets to secure financing approval from a lender for the purchase of the home. If the financing fails, the buyer can pull out of the contract with a full refund for earnest money as long as it’s before the specified deadline. Issues that arise during due diligence.

Earnest money deposit 111

Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 111

Realty Biz

NOVEMBER 11, 2020

They will also get their earnest money deposit back , and the home will go back on the market. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval.

Backup offer 111

Backup offer Home sale contingency Sales Earnest money deposit 111

HomeLight

MARCH 16, 2023

More certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few contingencies, or no contingencies at all. So you won’t be holding your breath until the buyer’s loan approval comes through or be on the hook for needed repairs discovered during the home inspection.

Sales 93

Sales Purchase and sale agreement Earnest money deposit Investor 93

HomeLight

OCTOBER 29, 2020

Unless you’re paying cash for a house, your best course of action is to include a pre-approval letter from a mortgage lender with your offer. That being said, pre-approvals aren’t yet a guarantee of funds and they usually carry an expiration date. Short sale or bank approval contingencies.

Purchase and sale agreement 81

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 81

Redfin

JUNE 21, 2023

From relationship building to conducting due diligence, you’ll be equipped with the knowledge and strategies to enter the world of real estate investing and buy your first investment property with ease. Do your due diligence and review accurate CMA data to determine a price best suited to your market’s demands.

Due diligence 59

Due diligence Earnest money deposit Investor Inspection 59

Point2Homes

JANUARY 31, 2023

With a budget in place, your next step should be to get pre-approved for a mortgage. Without being pre-approved, you’ll need to delay your offer while you secure financing. If possible, offer a larger earnest money deposit rather than the 1% to 2% that is more common.

Earnest money deposit 98

Earnest money deposit Purchase and sale agreement Pre-approval Inspection 98