The Close

APRIL 28, 2022

In today’s tight inventory market, trying to help buyers with financing and limited funds feels a little like getting into a boxing match with Mike Tyson. We’ll share our strategies to improve your offer by reducing the negative aspects of financing while creatively solving some of the other concerns a seller may have.

Rent back 105

Rent back Closing costs Finance Agents 105

HomeLight

FEBRUARY 28, 2022

Some sellers will even order their own inspection prior to putting their house on the market, especially if they know the house needs significant work. You could try to find a buyer who will allow you to do a rent-back on the property, but if that isn’t available, you may need to move into a temporary rental property.

Equity 126

Equity Debt-to-income ratio Loans Closing 126

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

JANUARY 4, 2022

According to a Q3 2021 study by ATTOM Data Solutions, all-cash home sales are at their highest level since the first quarter of 2015, with 34% of all single-family homes and condos purchased without financing. “In Who’s paying cash for houses? Reasons to sell your house for cash.

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HomeLight

MARCH 20, 2023

Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period. Offer to accept a rent-back agreement. Come in with conventional financing in place.

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

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 to take care of more repairs from the inspection?

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Purchase and sale agreement Short sale Rent back Sales 98

HomeLight

JANUARY 7, 2022

As you finalize the sale on your property with a home inspection, appraisal, and all other necessary steps, you will most likely be doing the same for your new home. Close on your new home (4 to 8 weeks): The exact timeline for your closing will vary, depending on what contingencies you have and if there are any delays with financing.

Equity 105

Equity Loans Debt-to-income ratio Closing 105

HomeLight

MAY 24, 2021

Since sellers always want to choose the strongest offer possible, they want to feel confident the deal won’t fall through if the buyer can’t secure appropriate financing. If this is the case, you can offer a rent-back arrangement , allowing the seller to stay in the home as a renter for a specified timeframe after closing.

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Pre-qualification Pre-approval Purchase and sale agreement Loans 111

HomeLight

APRIL 21, 2022

Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Common contingencies include an inspection contingency and an appraisal contingency. Does the offer meet your primary selling objective?

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Inspection contingency Home sale contingency Pre-approval Agents 111

Hank Miller Team

FEBRUARY 27, 2022

Princes are conventional loans with as much down as possible Offer 3-4 in earnest money and deposit it within a day of contract Waive contingencies like inspection, appraisal, and financing Learn what is key to seller and try to accommodate them Keep things simple, no nonsense stipulations or asks This is the market right now (late 2/22).

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Due diligence Rent back Inspection Loans 52

HomeLight

MARCH 28, 2022

Also known as a seller rent-back agreement or a holdover , this allows you to stay in your home for a designated period ?of Essentially, it makes the buyer your landlord so you have time to rent or buy a new home and arrange for the movers to collect your belongings. of time after you sell. Address any mechanical issues ASAP.

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Purchase and sale agreement Equity Agents Staging 119

HomeLight

APRIL 19, 2021

Being able to afford a home in this swanky NYC borough means enjoying unparalleled access to the world’s preeminent nexus of culture, cuisine, architecture, and finance. Inspections & attorneys. If you’re ready to buy a house in Manhattan, congratulations! A top agent will help you remain competitive even in a cash market.

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Earnest money deposit Inspection Due diligence Agents 89

HomeLight

SEPTEMBER 11, 2020

Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? The offer will include any contingencies — clauses that allow you to cancel the purchase agreement and get your earnest money deposit back, should certain conditions not be met.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 98

The Close

FEBRUARY 6, 2024

The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. I recommend removing the contingency of backing out of the contract after you get the inspection report.

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Pre-approval Earnest money deposit Inspection Inspection contingency 76

Redfin

MAY 7, 2021

Another option to consider is gap financing such as a Home Equity Line of Credit (HELOC) or a Bridge Loan. You can also consider requesting a rent-back agreement from potential homebuyers. A rent-back agreement means that the homebuyer purchases your home and you rent it from them for a specified period of time.

Purchase and sale agreement 80

Purchase and sale agreement Marketing Equity Loans 80

HomeLight

JANUARY 28, 2022

These are some common contingencies in a traditional offer: Financing contingency : The buyer can leave the deal if they can’t obtain financing. Appraisal contingency : The buyer can back out if the home appraisal comes in lower than the offer amount (an appraisal lower than offer can also cause financing to fall through).

Purchase and sale agreement 111

Purchase and sale agreement Investor Agents Sales 111

Redfin

FEBRUARY 2, 2021

If you don’t have to use a lender, there’s no financing contingency, which shows the sellers that you will most likely not pull out of the deal due to financial issues. Earnest money protects the home seller in case a buyer backs out of a home sale after the offer was accepted. 9) Be willing to make concessions during negotiations.

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Pre-approval Purchase and sale agreement Marketing Inspection contingency 66

HomeLight

MAY 24, 2022

If you’re planning to finance your next home, securing a lower mortgage rate now might save you money in the long run and make your house more affordable to potential buyers. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process. Sell Fast With an All-Cash Offer.

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Pre-approval Equity Agents Closing costs 98

HomeLight

APRIL 29, 2021

Federal Housing Financing Agency (FHFA). For example, in 2017, a competitive housing market in Western Washington prompted “serious buyers” to waive home inspections and financing contingencies. That competition between buyers pushes bid prices up, leading to higher home values. Homes sell faster.

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Marketing Sales Agents Construction 111

HomeLight

DECEMBER 14, 2021

a multiple offer situation, Mattes says that sellers need an agent who can help them sort it all out in a way that makes sense — helping them narrow it down if they want government financing, a cash deal, or no inspections. It could be the close date, repairs, or a rent back period. Has a network of professionals.

Pre-qualification 111

Pre-qualification Earnest money deposit Agents Days on market 111

Real Trends

JULY 15, 2022

This could involve a quick settlement, a rent-back offer, a home inspection without repairs, or doing away with other contingencies. A good lender will assure that appraisals are done on time, the financing commitment is done correctly, and that all the boxes are checked so you won’t have an issue with the financing.

Loan Officer 52

Loan Officer Agents Rent back Loans 52

HomeLight

DECEMBER 14, 2021

a multiple offer situation, Mattes says that sellers need an agent who can help them sort it all out in a way that makes sense — helping them narrow it down if they want government financing, a cash deal, or no inspections. It could be the close date, repairs, or a rent back period. Has a network of professionals.

Earnest money deposit 105

Earnest money deposit Agents Days on market Sales 105

HomeLight

DECEMBER 15, 2022

Mahan explains that in 2021’s hot seller’s market, “for some sellers looking at over 20 offers that were all very similar financing-wise and similar as far as net dollar amount, sometimes the offer letter would make them stand out one way or another and help them visualize a different person in their home.”.

Inspection 105

Inspection Rent back Closing Agents 105

HomeLight

FEBRUARY 28, 2021

A home inspection can help buyers get a good grasp of the home’s condition. Waive home inspection contingencies — but NOT the home inspection. Waive appraisal and finance contingencies. Offer a rent-back clause to the seller. Virginia requires a seller to disclose material defects , but not latent defects.

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Earnest money deposit Land Residential Inspection contingency 105

Realty Biz

MAY 16, 2022

Waive Your Home Inspection. Waiving a home inspection is somewhat of a gamble but the odds you’re buying a home with some catastrophic problem is low. If you have been in numerous bidding wars and continue to lose out, one of the significant factors is probably other buyers forgoing the inspection. Final Thoughts.

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Earnest money deposit Purchase and sale agreement Rent back Inspection 96