Realty Biz

SEPTEMBER 14, 2021

In some places, active under contract indicates that a contract has been signed but is contingent on certain conditions being met before the sale is finalized. In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser.

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Backup offer Purchase and sale agreement Inspection Sales 126

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? Source: (Freedomz / ShutterStock).

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Short sale Sales Purchase and sale agreement Banks 105

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.

Sales 105

Sales Purchase and sale agreement Due diligence Inspection 105

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Easy, right?

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Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

MARCH 31, 2022

But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. The financing approval and the inspection contingency are first-level contingencies,” Ballenger explained. “The Why would you want a home sale contingency?

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 104

HomeLight

JUNE 13, 2022

You need to save up money for a down payment and closing costs (which are calculated as a portion of your purchase price), but home prices just keep going up — so when you finally reach your goal, you realize that the goalposts have moved, and the hill is even taller than you thought. Let’s dive right in! Why rent to own? for an FHA loan.

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Purchase and sale agreement Loans Inspection Closing costs 116

HomeLight

NOVEMBER 29, 2021

The amount varies, but it is usually based on a percentage of the home’s purchase price. William Hagan , a New Jersey agent who typically sells homes more than 40% faster than the average agent in his area, warns that even a 20% down payment may not be enough to win a bidding war in the 2021 sales market. “In Homeowners taxes.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

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. Problems come up during inspection.

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Closing Inspection contingency Title search Purchase and sale agreement 116

Broke Agent Media

FEBRUARY 21, 2023

But any details found to be incorrect (or missing) can land you in court and do real damage to your credibility and, ultimately, your success as a real estate agent. It’s a reasonable expectation that the seller disclose any material defects that are not easy to spot during a walk-through inspection of the property.

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Purchase and sale agreement Agents Inspection MLS 98

HomeLight

JUNE 30, 2021

There’s more that goes into making an offer besides landing on a purchase price. This is usually the biggest purchase and sale someone makes in their life. Remember, your offer becomes your legally binding purchase contract. Step 1: Land on your offer price. Inspection contingency. Where is the house?

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 98

HomeLight

APRIL 28, 2023

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. That 6% is deducted from the seller’s proceeds at closing.

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Purchase and sale agreement Inspection Title Inspection contingency 102

HomeLight

DECEMBER 30, 2021

When you make an offer to buy a house, you’ll sign and initial contracts for each offer, and when one is accepted, it’s now officially a purchase agreement , which becomes a legal document. Matt Laricy is a top agent in Chicago , completing 41% more sales than the average agent in his area. Transactions. Average Price Point.

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Purchase and sale agreement Title Short sale Closing 97

HomeLight

OCTOBER 12, 2022

With median sales prices rising 24.2% Some states have requirements for disclosing issues affecting the land or additional disclosures specific to that state. Buyers need to know what they’re getting and not discover major detrimental issues after the sale that are expensive to fix, like a sinkhole or a foundation that’s been moving.

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Seller disclosure Purchase and sale agreement Homeowner’s association Inspection 111

HomeLight

OCTOBER 20, 2022

If you’re considering selling your New Jersey home, you’ve probably wondered what kind of disclosure forms the Garden state requires and how much you need to know about the specifics of your home to successfully close a sale. If intentional omissions come to light during inspection or appraisal , they can jeopardize a closing.

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Purchase and sale agreement Inspection Construction Land 111

Marco Santarelli

SEPTEMBER 6, 2023

Introduction Investing in land is a significant financial decision that can yield substantial returns if approached with careful consideration and strategic planning. One crucial aspect to address is determining “How Much Over Assessed Value Should You Pay for Land?”

Land 52

Land Purchase and sale agreement Investor Development 52

HomeLight

OCTOBER 17, 2022

Georgia home sellers are obligated to inform buyers of any known material defects in the home’s condition that would not be found by a buyer upon reasonable inspection. Before entering into a purchase agreement, the seller must inform the buyer of any known lead-based paint hazards in the home. Federal disclosure requirement.

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Purchase and sale agreement Due diligence Earnest money deposit Inspection 105

Realty Biz

OCTOBER 13, 2022

The agent will also notify you when new listings are about to hit the market and can also offer information on recent sales. By helping you weed out houses that are still showing up on public websites but are no longer for sale, your realtor can also help you save time. A small error might cost you thousands or land you in court.

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Purchase and sale agreement Inspection Land Agents 87

HomeLight

MAY 23, 2022

HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in North Carolina. “As is” is a type of home sale where it’s understood that no improvements will be made to the property. Sell 'As Is' With a Cash Offer. Request Cash Offer. Disclosures.

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As-is Purchase and sale agreement VA loan Inspection 112

HomeLight

OCTOBER 17, 2022

What about the age of the water heater you purchased 11 or 12 years ago? You want to read in plain-speak what you are legally obligated to disclose to buyers — and if you acknowledge problems with your home, does that mean you’ll have to pour money into fixing them before you can close a sale?

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Purchase and sale agreement Seller disclosure Inspection Agents 110

HomeLight

AUGUST 27, 2021

Or if the inspector uncovers a mold-related issue during the inspection? It’s in the air, but it doesn’t grow until it lands on something that’s moist.”. If you’re dealing with a larger mold issue, it may be time to acquire professional help with inspecting and cleaning the home. And can you even sell a house with mold ?

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Inspection Purchase and sale agreement Inspection contingency Due diligence 111

HomeLight

MARCH 24, 2022

To get the widest access to homes available for sale, you’ll need to be able to tap into the multiple listing service (MLS). The offer document will not only state how much you are willing to pay for the property (and when); it will also state any contingencies to be included in the purchase agreement if the seller agrees to everything.

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Inspection Purchase and sale agreement Title MLS 111

The Close

AUGUST 9, 2022

The benefit of a 1031 exchange is that it defers the taxes that would normally be paid on the capital gains from the sale of a property. A 1031 exchange is the process where a person sells one investment property and purchases another “like-kind” property (or multiple properties) of equal or greater value than the property sold.

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Purchase and sale agreement Principal Investor Title 89

HomeLight

SEPTEMBER 1, 2022

If this all sounds perfect and you’re thinking of purchasing a home in Connecticut, read on! Before you start looking for homes in Connecticut, you want to determine if you’re ready to purchase one. Homebuyers in Connecticut pay an average of just over $2,700 in closing costs when purchasing a home. Saving for your down payment.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 111

The Close

NOVEMBER 7, 2024

Have a clear investment strategy and long-term goals before purchasing. Next, draft an operating agreement that outlines your company’s purpose, structure, and governance. Tax liens and auctions: Search for tax lien sales and foreclosure auctions. Stay updated on local and national real estate trends and regulations.

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Hard money loan Purchase and sale agreement Investor Due diligence 90

HomeLight

NOVEMBER 30, 2021

The rent-to-buyers will usually pay an “option fee” when they move in, which is typically 1% to 7% of the purchase price. This fee gives you the first “option” to purchase the house; it is typically non-refundable and is a sign of good will that the tenant is seriously interested in buying the property at the end of the contract.

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Purchase and sale agreement Finance Loans Mortgages 105

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. Home inspections. Sales contingency. Home appraisals. Buyer financing.

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

HomeLight

AUGUST 31, 2021

We talked to agents, builders, and other top industry experts to develop this guide that’ll help you make the most out of working with an agent on your new-home purchase and to find out what they can do for you. They’ll be able to tell you if you’re getting ripped off on the sale price or if a builder overcharges you on granite countertops.

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Agents New Construction Purchase and sale agreement Construction 128

HomeLight

APRIL 11, 2023

If you’re planning a home purchase in The Grand Canyon State, you may be wondering, “What’s the best time to buy a house in Arizona?” If you’re looking at the deserts, then July is the best month to purchase a home for a discounted price, according to HomeLight’s housing transaction data. That’s the key.”

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Purchase and sale agreement Agents Seller concession Inspection 104

HomeLight

JUNE 14, 2022

Embarking on a sales transaction of that size calls for some planning, including understanding the costs, potential proceeds, and how long your home might be on the market so you can anticipate your next move. You can probably expect to run into these common expenses for home sellers in Chicago: Prepping your house for sale.

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Seller concession Purchase and sale agreement Closing costs Title 110

HomeLight

JUNE 30, 2022

For example, it may be worth strategically paying down some of your debt or disputing any errors on your credit report before purchasing a home. These events may not necessarily prevent you from buying a house, but there may be a time limit required from the time the event happened until you can purchase a home with a mortgage.

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Purchase and sale agreement Inspection Earnest money deposit Closing costs 96

HomeLight

NOVEMBER 2, 2022

A flat fee MLS company helps “for sale by owner” (FSBO) sellers to list their homes in the local multiple listing service (MLS) without the assistance of a Realtor®. A flat fee MLS is a limited service that helps sellers get their FSBO (for sale by owner) homes on the local multiple listing service (MLS). Let’s get started.

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MLS Purchase and sale agreement Agents Sales 111

Realty Biz

JANUARY 12, 2021

I don’t want to go too far into the history of real estate investing but setting sail across the seas to discover and conquer new lands was another investing strategy. It’s about working with a professional agent to narrow your search and help you navigate through the purchase process. Or a lease with an option to purchase.

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Purchase and sale agreement Pre-qualification Pre-approval MLS 67

HomeLight

MAY 27, 2021

Listing sites where you browse homes for sale usually have a sponsored agent pop-up that will lead you to a real estate agent. Townhouse deals are different from land purchases ; condos are different from single-family homes. Closing costs for the buyer are typically between 2% and 5% of the purchase price. Your Realtor?

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Earnest money deposit Purchase and sale agreement Closing costs Inspection 72

CT Homes

OCTOBER 28, 2021

Any real estate transaction will host numerous costs and fees that will be factored into the purchasing process on top of the property’s value. Understanding who is responsible for paying these fees is crucial for properly valuing the sale as the buyer or seller. Does the Buyer or Seller Pay Closing Costs? Buyer Closing Costs.

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Closing costs Closing Purchase and sale agreement Title 75

HomeLight

OCTOBER 1, 2020

It was on a dead-end cul-de-sac with three other houses,” Lauren explains, “with almost an acre of land, two outbuildings, and priced at only $75,000.” They sold the Norwalk, Ohio, home three years after purchase for $160,000 — even though they’d intended to stay long-term, a job opportunity in Costa Rica proved too much to resist.

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Purchase and sale agreement Earnest money deposit Banks Equity 78

HomeLight

DECEMBER 6, 2022

When the time comes to move, some tenacious homeowners in New Jersey are eager to take over the reins of their home sale and figure out how to sell a house by owner. With millions of homes sold each year, a modest portion of sellers — about 7% in 2021 and 10% in 2022 — choose to list “For Sale By Owner” (or FSBO — pronounced fizz-bow).

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Purchase and sale agreement MLS Pre-approval Agents 103

HomeLight

DECEMBER 8, 2022

The Multiple Listing Service (MLS) is the top resource used by sellers to list their homes, but for sale by owner (FSBO) home sellers in Connecticut aren’t able to list their house on the MLS without the partnership of a real estate agent. However, you’ll still be responsible for all aspects of your home sale. Get Started.

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MLS Purchase and sale agreement Agents Sales 105