Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If

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Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If

Earnest money deposit 40

Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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Backup offer Home sale contingency Sales Earnest money deposit 111

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. Here are nine expert house negotiation tactics to help you on your way to a successful sale. Making enough money off the sale to fund the downpayment on a new home.

Earnest money deposit 111

Earnest money deposit Purchase and sale agreement Closing costs Closing 111

HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

Purchase and sale agreement 115

Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 115

Realty Biz

MAY 24, 2022

We decided to sell our house as “for sale by owner” to save the agent’s commission. Because your buyer is saying it is about not taking out a mortgage at today’s interest rate, I’m thinking the earnest money is what you will primarily get from a failed sale of your house.

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

Easy Agent Pro

SEPTEMBER 5, 2023

Carefully consider factors like inventory levels, average sale prices, and average days on the market before making decisions. Setting a Realistic Budget and Obtaining Pre-Approval Before engaging in bidding wars, creating a realistic budget is essential. This will prevent overextending yourself financially.

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Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 89

HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. CalHFA works through approved lenders, and buyers apply for the program through their loan officer.

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Closing Earnest money deposit Sales Inspection 118

HomeLight

JUNE 28, 2021

While Roberts says the net purchase price is often the primary factor when selecting an offer, sellers should evaluate the overall strength of the offer, along with the buyer’s commitment to completing the sale. In a competitive market , buyers can get caught up in the bidding process, offering more money than the home is worth.

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

HomeLight

MARCH 6, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. CalHFA works through approved lenders, and buyers apply for the program through their loan officer.

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Earnest money deposit Closing Sales Title 110

HomeLight

SEPTEMBER 30, 2020

Buyers with lower credit scores or lower down payments can sometimes get an FHA loan even if they can’t get approved for a conventional loan. The forfeiture of earnest money deposits document means that HUD can retain your 5% deposit if you do not fulfill your end of the sales contract for some reason not already outlined in the contract.

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Earnest money deposit FHA loan Pre-approval Finance 98

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Perhaps you’re relocating for your dream job in two weeks, but you don’t have the time or money to replace the roof on your University Place ranch that has sprung a leak. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

Sales 93

Sales Purchase and sale agreement Earnest money deposit Investor 93

HomeLight

JANUARY 12, 2022

24, you can expect to close on the sale of your home somewhere between the end of February to mid-March. And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. HomeLight’s Simple Sale platform provides cash offers for homes in almost any condition across the country.

Closing 116

Closing Purchase and sale agreement Pre-approval Inspection 116

The Close

SEPTEMBER 10, 2020

That means you need to open lines of communication with the listing agent to find out exactly what they need and want from the sale. What are their biggest concerns about the sale? Make Sure You Have a Proper Approval Letter From a Reputable Lender. Nail the Offer Price & Earnest Money Deposit.

Home sale contingency 116

Home sale contingency Pre-approval Earnest money deposit Marketing 116

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Loan approval. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. Requesting a reasonable decrease in the sale price based on the cost of repairs. Easy, right?

Closing 119

Closing Purchase and sale agreement Title search Earnest money deposit 119

Redfin

AUGUST 29, 2024

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). Get pre-approved As you’re researching how to buy a house, you will want to get a mortgage pre-approval. What’s an earnest money deposit?

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Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

Realty Biz

AUGUST 22, 2022

In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. I’m almost certain that your biggest concern is about what will happen with your earnest money if you back out of the deal. This common situation is the reason home sale contingencies exist.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 95

The Close

FEBRUARY 14, 2024

Home sale preparation is done like a dealership preps the cars for the lot. Preparing Your Home for Sale Myth #4: Your Home Should Reflect Your Personality Sellers, especially those who have lived in their home for decades, are attached. Plus, my clients nearly lost their earnest money deposit due to the delays.

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Pre-approval Earnest money deposit MLS Renovation 98

CT Homes

AUGUST 31, 2020

There is a huge difference between a pre-qualification and a pre-approval. Most lenders or mortgage companies will issue a pre-qualification letter after reviewing the credit report and taking verbal information on income, assets and employment. Financing Issues.

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Earnest money deposit Pre-qualification Pre-approval Inspection 52

CT Homes

AUGUST 31, 2020

There is a huge difference between a pre-qualification and a pre-approval. Most lenders or mortgage companies will issue a pre-qualification letter after reviewing the credit report and taking verbal information on income, assets and employment. Financing Issues.

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Earnest money deposit Pre-qualification Pre-approval Inspection 52

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. Sales contingency. So can a financing contingency be negotiable?

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

Realty Biz

JULY 1, 2023

Depending on how far along in the escrow process you are, this can be done in a variety of ways: Providing a deposit - If you have not yet made an offer on a home, consider providing an earnest money deposit as your first step. These may include appraisal contingencies, financing contingencies, or home sale contingencies.

Purchase and sale agreement 77

Purchase and sale agreement Earnest money deposit Title search Pre-approval 77

Windemere Buying

OCTOBER 4, 2021

Once the buyer has shown they have enough cash to make the purchase, they will put down an earnest money deposit. Whereas financed offers are tied to an approval process with a lender, all-cash offers are not because the buyer has already proven they have the amount required to purchase the property on-hand.

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Earnest money deposit Pre-approval Closing costs Closing 52

The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter.

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Pre-approval Earnest money deposit Inspection Inspection contingency 76

Louisville Homes

OCTOBER 26, 2021

In a seller’s market , many homes for sale wind up in bidding wars. Get a Pre-Approved. If you cannot afford a cash purchase, you need to get a mortgage pre-approval before house hunting. If you cannot afford a cash purchase, you need to get a mortgage pre-approval before house hunting. Be Flexible.

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Pre-approval Earnest money deposit Finance Closing costs 52

Point2Homes

JULY 28, 2020

The buyer is required to deposit their ‘earnest money deposit’, a sum of money that typically equates to around 1-3% of the sale price. Additionally, the buyer will typically be required to deposit a mortgage pre-approval letter as proof that they qualify for an adequate mortgage.

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Purchase and sale agreement Earnest money deposit Mortgage pre-approval letter Pre-approval 57

HomeLight

MARCH 31, 2022

Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% With such impressive sales figures, some Florida sellers may be curious about how to sell a house by owner in Florida — a decision that could help them save on agent commissions. Average home sale price in Florida: $530,419 (Jan 2022).

Purchase and sale agreement 111

Purchase and sale agreement Inspection Title Inspection contingency 111

HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

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Purchase and sale agreement Inspection Inspection contingency MLS 115

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. This contingency gives buyers the right to have property professionally inspected after putting down earnest money.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40

Redfin

AUGUST 3, 2022

Research mortgage options and get pre-approved for a home loan. They’ll also stay in touch with you every step of the way from pre-approval to closing day as well as for the lifetime of the loan.”. “A Once you have selected a lender you want to use and before you start looking at homes, get a mortgage pre-approval.

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Pre-approval Purchase and sale agreement Title Debt-to-income ratio 76

Redfin

MAY 5, 2023

Due to the state’s thriving economy, low cost of living, and a growing population, Texas has become a magnet for buyers and investors, which has resulted in median sale prices climbing steadily in recent years. to $341,300 and competition slowing down. And if you find your interest between two cities, fear not.

Purchase and sale agreement 66

Purchase and sale agreement Pre-approval Seller disclosure Earnest money deposit 66

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. This contingency gives buyers the right to have their new home professionally inspected after putting down earnest money.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40

Redfin

JUNE 21, 2023

Learning from experienced investors can vastly build your understanding of how it works, beginning with market research and ending with either the sale or signing a tenant in your new rental. In May 2020, the median sales price was $234,000; as of May 2023, the median sales price equals $350,000 (nearly a 50% increase YOY).

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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. Check out comparable properties to make sure that the sale price is fair or whether there’s a little wiggle room to negotiate.

Earnest money deposit 98

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

The Close

JULY 25, 2024

PARAGRAPH VERSION copy to clipboard We are prepared to offer [offer amount] for the property with [earnest money amount] as an earnest money deposit. Optional: earnest money calculation explanation.] Sale of Primary Residence The buyer has a home to sell before purchasing the new property.

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Earnest money deposit Agents Inspection Finance 98

The Close

DECEMBER 29, 2022

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Comparable sales (comps).

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Purchase and sale agreement Title Pre-approval Proof of funds 98