HomeLight

SEPTEMBER 16, 2021

A ‘cash offer’ simply means the offer does not include a financing contingency — in other words, it’s not dependent on the buyer being able to secure a loan.”. However, cash offers historically tend to be lower than financed offers. Clear title. Close for cash in as few as 10 days. Consult with a top real estate agent.

Title 105

Title Inspection Proof of funds Investor 105

HomeLight

JULY 31, 2021

Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy. A 10-day closing translates as getting your home sold around five times faster than with a buyer who needs financing in today’s market.

Earnest money deposit 98

Earnest money deposit Inspection Inspection contingency Title 98

HomeLight

OCTOBER 20, 2022

Preliminary title report. Doing a title search before you put your home on the market alerts you about any pending taxes, restrictions, or liens on the property that you’ll have to clear before selling. You can ask for proof of funds and a mortgage pre-approval letter. Mandatory disclosures. Prepare for closing.

Purchase and sale agreement 111

Purchase and sale agreement Pre-approval Inspection Title 111

HomeLight

JUNE 7, 2022

Two months of bank statements as proof of funds to show you have the down payment that you say you do. Proof of other forms of income like child support or rental income if you own other investment properties. Closing conditions (inspections, appraisal, title search, etc.) You’ll need to submit: Two years of W-2s.

Mortgages 111

Mortgages Loans Lending Banks 111

HomeLight

MARCH 13, 2023

You are either replumbing the house, rewiring the house, or putting a new roof on the house prior to closing so that a financed buyer can get insurance. There’s just so much less risk with a cash offer than with a financed offer that it is night and day,” says Spray. Both parties sign a contract and submit it to a title company.

Sales 98

Sales Investor Due diligence Renovation 98

Marco Santarelli

AUGUST 16, 2024

Secure Your Finances Determine your budget: Knowing your financial limitations is crucial. Factor in down payment, closing costs, renovation expenses, and a reserve fund for unexpected repairs. Explore financing options: Research mortgages, hard money loans, and private lending options. What's your investment timeline?

Due diligence 52

Due diligence Purchase and sale agreement Renovation Title search 52

HomeLight

FEBRUARY 28, 2022

To help prove their serious intentions, they are happy to offer proof of funds and provide substantial earnest money. Lenders may not agree to provide financing for homes that fail to meet minimum property standards as evaluated by a home appraiser. Title search. Cash-for-homes companies often handle title issues.

Closing costs 98

Closing costs Closing Sales Staging 98

HomeLight

MARCH 16, 2023

You don’t need the added stress that comes with the risk of the buyer’s financing falling through or a home inspection turning up unpleasant surprises. Less hassle: You won’t need to worry about showings, open houses, fielding offers, negotiating, low appraisals, or the risk of the buyer’s financing falling through.

Sales 93

Sales Purchase and sale agreement Earnest money deposit Investor 93

HomeLight

APRIL 14, 2023

House Heroes also provides sellers with a proof of funds bank statement. One reviewer notes the entire staff was knowledgeable, professional, personable, and polite while another mentions Express Homebuyers “freed my family’s finances, improved our credit standing, and restored our peace of mind in less than a month.”

Purchase and sale agreement 98

Purchase and sale agreement Closing costs Closing Sales 98

HomeLight

FEBRUARY 16, 2023

House Heroes further vets itself by providing a proof of funds bank statement. If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.

Purchase and sale agreement 98

Purchase and sale agreement Closing costs Closing Investor 98

Redfin

AUGUST 29, 2024

See how much you can afford After you’ve assessed your goals and finances, the next step in the homebuying process is to determine your budget. An underwriter will thoroughly review your finances to determine whether you are a good candidate for the loan. You may be requested to provide additional information about your finances.

Earnest money deposit 55

Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 55

HomeLight

NOVEMBER 21, 2022

Without carefully vetting the buyer, the sale could go up in smoke if you accept an offer from the wrong buyer who can’t obtain financing. Here are key considerations when considering an offer on your South Carolina home: Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds.

Purchase and sale agreement 102

Purchase and sale agreement MLS Pre-approval Agents 102

The Close

DECEMBER 29, 2022

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.

Purchase and sale agreement 98

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

The Close

JULY 25, 2024

Be transparent about the buyer’s financing situation, ensuring the listing agent and seller will understand all the terms of the offer and what makes your buyer stand out from the competition. We are making this purchase [describe the financing situation objectively, e.g., preapproved for a mortgage, able to make a cash offer].

Earnest money deposit 84

Earnest money deposit Agents Inspection Finance 84