The Close

DECEMBER 12, 2024

Ill explore exactly what a probate lead is, the pros and cons of probate leads and properties, and how to find and purchase them. In most cases, probate leads refer to real estate properties that become available for sale as part of the legal process following an individuals passing. What is a Probate Lead?

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Purchase and sale agreement Investor Probate sale Due diligence 97

Realty Biz

FEBRUARY 20, 2021

Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. Some of these clauses can benefit you when purchasing a home, so we will look at some of the contingency clauses you might encounter when buying a property. Real Estate Contingencies Explained.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 137

Realty Biz

JUNE 15, 2022

Things to Find Out Before Purchasing Land. Performing due diligence is vital when purchasing a home. However, it is important to ask questions and get advice before making a purchase. These are the questions that you should either ask a Realtor or a land owner before making a purchase. Is The Land Buildable?

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Land Purchase and sale agreement Due diligence Title 128

Redfin

JANUARY 28, 2025

Assumable mortgages offer a unique alternative, allowing buyers to take over the sellers existing loan – potentially locking in a lower interest rate and saving money over time. From evaluating the loan terms to understanding the hidden costs, assuming a mortgage isn’t a decision to take lightly.

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Loans Mortgages VA loan Purchase and sale agreement 31

HomeLight

SEPTEMBER 10, 2022

Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. These clauses are most often used when a buyer needs to sell their current home before purchasing a new one. A contingency is a condition that must be met for the purchase to proceed.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 111

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

Realtor.com

JANUARY 12, 2021

When is a sale a sale? It is absolutely critical that, as a seller, you understand the purchase agreement and any counteroffers you sign. “Read the agreements to find out if you have any outs in the contract,” says Meyers. Then it happens—another offer comes in, and a better one at that.

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Backup offer Purchase and sale agreement Due diligence Inspection 115

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. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

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Sales Purchase and sale agreement Inspection Due diligence 105

HomeLight

FEBRUARY 14, 2022

These possibilities can be stipulated in the rent-to-own agreement — which is also sometimes referred to as lease-purchase, or a lease-option agreement. With a rent-to-own or a lease-purchase agreement, however, the tenant has already agreed to buy the home after a specified period.

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Purchase and sale agreement Due diligence Finance Equity 109

HomeLight

JUNE 19, 2023

Basically, a rent-to-own real estate purchase means that you can live in the house as a renter with the intent to close on the home at a date in the future. Lease purchase: This type of contract requires the buyer to purchase the property at the end of the contract term. Purchase price: The price you will pay to own the home.

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Purchase and sale agreement Debt-to-income ratio Due diligence Inspection 105

HomeLight

NOVEMBER 1, 2021

If you suspect this is the case and have evidence to back it up, you may be able to save the sale if you can convince the appraiser to reconsider. Approximately 9% of home appraisals come in below the sales price. The first step to saving the sale is to request a reconsideration of value (ROV). Reconsideration of value process.

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Sales Purchase and sale agreement VA loan MLS 110

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

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Sales Purchase and sale agreement Earnest money deposit Investor 93

HomeLight

MAY 27, 2021

But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. We include advice from an agent who has worked with hundreds of new buyers, descriptions of different loans, and information about the many kinds of paperwork you’ll deal with. Source: (Matthew Henry / Burst).

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Loans Mortgages Title FHA loan 98

HomeLight

MAY 24, 2022

If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. But just how long does it take to close on a house with cash, compared to a traditional loan? Everyone involved will need time to perform their due diligence. Average Price Point.

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Purchase and sale agreement Closing Title search Title 111

HomeLight

SEPTEMBER 13, 2022

It will determine whether or not the buyer needs to acquire a loan and/or what sort of taxes the seller may face once the deal is complete. If the IRS decides to audit the transaction, then you’ll have documentation to prove your home’s fair market value at the time of the sale. Sign a purchase agreement.

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Purchase and sale agreement Title Title search Finance 111

The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. What Happens in a Real Estate Short Sale? Lets begin!

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Short sale Sales Due diligence Purchase and sale agreement 52

HomeLight

DECEMBER 30, 2021

We’ll also hear from Richie Helali of HomeLight Home Loans for an inside scoop on the loan-related documents for buying a house. Your agreement with a buyer’s agent may be one of the first legal documents you’ll encounter when buying a home. Dobbs works in Illinois, where buyer representation agreements are not common.

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Purchase and sale agreement Title Closing costs Seller disclosure 98

Realty Biz

SEPTEMBER 14, 2023

They have a comprehensive understanding of real estate laws and regulations, which allows them to identify any potential issues or risks associated with a property purchase. Let's explore the different parties: Buyers Real estate attorneys work closely with buyers to navigate the complex legal aspects of purchasing a property.

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Purchase and sale agreement Title search Title Earnest money deposit 98

HomeLight

FEBRUARY 4, 2022

If you haven’t purchased a home before, you probably have lots of questions about the process. Source: (LinkedIn Sales Solutions / Unsplash). Work with you to write a compelling purchase offer. Guide you through the steps of due diligence and inspections. An agent is your advocate. And lots more!

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Agents Purchase and sale agreement Due diligence Inspection 115

HomeLight

AUGUST 9, 2022

It’s the first financial move you’ll make in securing your new home purchase. Down payment due dates can be a bit of a gray area. To make a long story very short, your down payment is officially due at the time of closing. So the down payment is due at closing? Again, more on this later!).

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 111

HomeLight

SEPTEMBER 15, 2021

Even if you’re listing your home without a Realtor’s® help, you’ll still need to gather the necessary paperwork for the sale and fill it out correctly. We hope it helps illuminate this tricky part of the sale, while giving you an honest idea of just how complex real estate transactions can be! Original sale contract.

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Purchase and sale agreement Inspection Title Pre-approval 116

HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Why do sellers love cash so much? Not always!

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Closing Inspection contingency Title search Purchase and sale agreement 116

HomeLight

JANUARY 25, 2021

House flippers usually purchase houses for cash as-is, saving homeowners the expense of making repairs that lenders might require, along with the stress of showing and staging the home. A traditional sale might be what you had in mind when you originally bought your home. Is the property damaged or are you facing a personal emergency?

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Purchase and sale agreement Investor Inspection Due diligence 111

HomeLight

SEPTEMBER 30, 2022

Their insight and experiences can help you avoid costly problems, prevent unpleasant surprises, and make a smarter purchase. It may be helpful and provide peace of mind to have someone in your corner whose primary obligation is to serve your needs, especially if you’ve never purchased a new construction home before.

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Construction Purchase and sale agreement New Construction Inspection 111

Redfin

MARCH 12, 2021

Earnest money is a type of security deposit, also known as a “good faith” deposit, offered to show the seller of a home that you’re serious about purchasing the property. At this stage, various inspections, appraisals, and possibly other contingencies you had in the offer contact move forward to finalize the sale. .

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Earnest money deposit Purchase and sale agreement Due diligence Inspection 76

HomeLight

JANUARY 27, 2021

And some states allow a kind of real estate deal known as dual agency — when an agent represents both the buyer and the seller in the sale. Once you have chosen an agent, you can expect to sign a buyer broker agreement to protect both of your interests. The lender is just doing their due diligence.”. Making the offer.

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Agents Purchase and sale agreement Debt-to-income ratio Due diligence 104

HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent.

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Earnest money deposit Purchase and sale agreement Title Inspection 115

HomeLight

DECEMBER 7, 2021

Source: (LinkedIn Sales Solutions / Unsplash). The buyer’s agent will help the buyer understand the inspection report and decide whether to buy the house, ask for repairs, or cancel the purchase contract based on the inspection findings. It’s part of a legal business agreement between the buyer and the home inspector. “The

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Inspection Purchase and sale agreement Pre-approval Closing 105

HomeLight

JANUARY 5, 2022

Find an Agent to Coordinate a Sale Among Friends. Not all states require you to hire a real estate attorney to buy or sell real estate, but it’s almost always advisable to get legal representation in a sale among parties with a pre-existing relationship. HomeLight can help connect you with an agent who is qualified to help.

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Pre-approval Purchase and sale agreement Title search Title 111

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death). Problem: You lost your job.

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Closing Purchase and sale agreement Title Home sale contingency 105

The Close

NOVEMBER 26, 2024

Step 2: Research & Choose a Location To purchase a vacation rental property that consistently generates maximum profit, picking the right location and type of property is key. If landlords rent their properties through Airbnb, the company may collect these taxes from guests if the local city has an agreement to do so.

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Purchase and sale agreement Property Management Finance Loans 98

Realty Biz

APRIL 17, 2023

It is a form of assurance that the buyer is serious about buying the property and will follow through with the purchase. The amount of earnest money typically varies from 1-5% of the purchase price, depending on the buyer's agreement with the seller. Let's examine more closely how a buyer's funds can be returned.

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Earnest money deposit Purchase and sale agreement Home sale contingency Title 68

HomeLight

OCTOBER 29, 2020

Because the stakes are high when it comes to property transactions, contingencies are written into the purchase agreement , and in most cases, action must be taken toward satisfying those contingencies within a certain time frame. In these cases, buyers make up the difference between the purchase price and the appraisal with cash.

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

Redfin

APRIL 13, 2022

Simply put, a rent-to-own home is a residential property that you agree to live in as a rental for a set number of years with the option to purchase the house at the end of the rental term. With most rent-to-own agreements, the renter pays an additional monthly payment that goes toward the down payment. Purchase price agreement.

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Purchase and sale agreement Equity Mortgages Due diligence 69

HomeLight

APRIL 29, 2022

“Some people have a lot more time and energy to engage and make the best of the sale, and some people don’t,” says George Graham , a top real estate agent in the Seattle, Washington, area. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds.

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As-is Purchase and sale agreement Investor Inspection 95

Norada Real Estate

FEBRUARY 21, 2022

Looking to purchase and profit from a rental property? However, it requires due diligence, on your part, to ensure you get the best return on your investment. Just like any business, purchasing a rental property to earn monthly income can be a bit risky too. What are the comparable rents and purchase prices?

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Purchase and sale agreement Investor As-is Due diligence 111

Marco Santarelli

AUGUST 16, 2024

Factor in all costs: The purchase price is just the tip of the iceberg. Explore financing options: Research mortgages, hard money loans, and private lending options. Shop around for competitive interest rates and loan terms. Check Our Inventory of Turnkey Rental Properties For Sale 2.2.

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Due diligence Purchase and sale agreement Renovation Title search 52