Lighter Side of Real Estate

AUGUST 5, 2020

Ask an agent to go see houses before getting pre-approved. If you haven’t actually qualified for financing, you should hold off on going to look at houses with a real estate agent (or even going to open houses), since there’s no guarantee that a mortgage company can lend you the money. Try to mislead the mortgage company.

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Pre-approval Debt-to-income ratio Title search Finance 145

RIS Media

APRIL 11, 2022

Help with lending pre-approval. To help make the process as seamless as possible, connect your client with a lender and secure mortgage pre-approval before flipping through hundreds of listings. Manage the inspection. The home-buying experience can be stressful, especially for new clients.

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HomeLight

JANUARY 12, 2022

Next steps include the home inspection, appraisal, and final paperwork. And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. Complete home inspection: 5-15 days. The buyer typically has 5-15 business days to complete the inspection after they sign the contract.

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Closing Purchase and sale agreement Pre-approval Inspection 116

RIS Media

APRIL 8, 2022

While financing may be pre-approved, the process is complex. The lending institution can also stop the transaction. . Home inspection problems. Home inspections are standard practice when buying a home and don’t usually stop a sale unless there is a severe underlying issue with the property.

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Debt-to-income ratio Title search Backup offer Home sale contingency 144

Marco Santarelli

AUGUST 2, 2024

Better Time to Inspect Homes Autumn provides a practical opportunity to inspect homes thoroughly, as the weather conditions are generally milder. Home inspections during this time can reveal potential issues that sellers might not want to disclose. What benefits does the Autumn season offer for home inspections?

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Pre-approval Fixed-rate mortgage Inspection Mortgages 98

HomeLight

JANUARY 5, 2022

“They help clients save money by representing both sides and a pre-arranged discount.”. 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. Don’t: Be lenient on the pre-approval step.

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Pre-approval Purchase and sale agreement Title search Title 111

Lighter Side of Real Estate

FEBRUARY 13, 2023

When should you get pre-approved for a mortgage? Which of the following shouldn’t you go out and buy before your mortgage is approved and you’ve closed on your new home? Your home inspection can be done by: a) A friend or relative who is a contractor, or has at least bought two homes in their life. b) A new car. (In

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Pre-approval Inspection Lending Agents 109

Realtor.com

JANUARY 2, 2023

“It’s true, on the average, that new homes of similar sizes historically outprice pre-owned by about 16%,” says Stephen Haines , president of Artisan Built Communities. “Depending on the age of the pre-owned homes, one should understand the remaining life expectancy of these components,” says Haines.

New Construction 105

New Construction Construction Pre-approval Inspection 105

HomeLight

JUNE 9, 2023

These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. Until those contingencies are cleared, the house isn’t officially sold.

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

Redfin

MARCH 4, 2025

That means there’s no home inspection or appraisal. If the auction accepts financing, make sure you have a pre-approval ready. Short sales A short sale is not the same as a foreclosure or a pre-foreclosure. The homeowners lender must agree to the short sale and approve your offer.

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Pre-approval FHA loan Short sale Banks 31

RIS Media

MAY 19, 2021

Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. – Closing/escrow/settlement fee, title insurance, notary fee, recording fee, pest inspection, home inspection, home warranty. Lender Fee.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

Keller Williams

AUGUST 17, 2022

Over the next several months, the housing market will be more in line with pre-pandemic market conditions,” shares KW chief economist Ruben Gonzalez. Offer Ready is Keller Mortgage’s fully underwritten pre-approval program created to help buyers bid with confidence. All loans subject to credit approval.

Finance 90

Finance Pre-approval Loan Officer Mortgages 90

Redfin

JULY 16, 2024

This guide will walk you through each phase of the mortgage loan process, from pre-approval to post-closing, with examples to illustrate key points. Step 4: Get pre-approved Submit pre-approval applications: Apply to multiple lenders to get pre-approved. Be prepared for negotiations.

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Loans Pre-approval Earnest money deposit Mortgages 69

Realty Biz

MAY 11, 2021

Get Pre-Qualified and Pre-Approved for a Mortgage. Provide your financial information to your mortgage broker who will review it and tell you how much they can lend you. Request a Home Inspection. Home inspections can truly be make-or-break situations. Find a Real Estate Broker.

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Pre-approval Inspection Lending Loans 84

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. In terms of lending limits, 203(k) loans are subject to the same local lending limits as FHA loans. The home is then sold at a discount by HUD. Next, explore financing options.

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Earnest money deposit FHA loan Pre-approval Finance 98

Redfin

FEBRUARY 22, 2021

All-cash offers, pre-approval letters, and flexible timelines are all strategies that can beat out the highest offer. Get pre-approved for a mortgage. One of the first steps you should take towards purchasing a house is obtaining a pre-approval letter. Go in with an all-cash offer.

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Pre-approval Inspection Lending Renovation 71

HomeLight

MARCH 30, 2021

Some people just focus on a home inspection and that’s not enough. Pre-approval letters are usually good for 60 to 90 days, so don’t enter this stage until you’re serious about your home search. It’s in your best interest to shop around for good mortgage rates and terms prior to getting pre-approved.

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Due diligence Inspection Title Pre-approval 105

Redfin

AUGUST 21, 2020

First, you’ll need a lender’s pre-approval for a mortgage to know the price range you can afford on a house. a copy of your pre-approval letter from your lender . Lenders can refuse to lend if the property appraises for less than the loan amount. Home inspection and attorney review.

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Pre-approval Purchase and sale agreement Inspection Title 78

Realty Biz

JUNE 10, 2024

It's about diving headfirst into a world of home inspections, mortgage rates, and, yes, the notorious paperwork. It's not the end of the world, but you might face higher interest rates or stricter lending requirements. Submit all your financial documents and wait with bated breath for that magical piece of paper known as pre-approval.

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HomeLight

SEPTEMBER 30, 2020

A buyer should definitely budget for a home inspection and any other inspections that aren’t being paid for by the seller.” Those might include termite inspections, septic inspections, or HVAC inspections, Ludecker says. Source: (RATTA LAPNAN / ShutterStock). If you do, you risk becoming house poor down the line.

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FHA loan Pre-approval Debt-to-income ratio Inspection 88

Realtor.com

MARCH 17, 2021

Still, now that vaccines are becoming more widely available and life soon promises to resume some semblance of pre-COVID-19 normalcy, home buyers and sellers might be wondering: Will the old ways of real estate return, too? Over: Large, lavish open houses. Notarize) or audiovisual portal (e.g., Microsoft Teams).

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Pre-approval Residential Technology Closing 130

HomeLight

OCTOBER 29, 2020

Contingencies can range from the relatively minor or otherwise workable — like requesting a $3,000 allowance to fix a plumbing issue that was revealed during inspection — to more serious stipulations, such as a buyer needing to sell their existing house before closing on the next. Home inspections. Court approval contingencies.

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

Realty Biz

JULY 1, 2023

Providing documentation of pre-approval - Providing proof of pre-approval from a lender will show that they're ready and willing to lend money when needed during escrow. This shows that you're serious about buying and puts some skin in the game for both parties involved.

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

HomeLight

MAY 19, 2022

These are any problems the purchaser wouldn’t be able to discover for themselves during a visual inspection, as well as anything that would pose a health or safety hazard. Consider a pre-listing inspection. So once you do that inspection, you must disclose all of that.”.

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As-is Inspection Investor Closing costs 119

HomeLight

AUGUST 31, 2021

And it requires patience and flexibility to navigate the 203(k) lending process, which takes longer and is more complex than other more common financing methods. Only lenders that have been approved by the FHA can offer 203(k) loans. All repairs must be planned, specified, and approved in advance.

Loans 104

Loans FHA loan Pre-approval Finance 104

Redfin

AUGUST 29, 2024

However, there are a lot of things to learn about how to buy a house, like current mortgage rates, your credit score, home inspections, and closing costs. 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).

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

HomeLight

MARCH 31, 2022

FSBO sellers in Florida may want to consider getting a home inspection prior to listing their home for sale. Addressing any issues upfront helps buyers have peace of mind when making an offer and helps to prevent inspection-related closing delays. Get a pre-listing appraisal. Get Estimate. Step 2: Fill out your disclosure forms.

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Purchase and sale agreement Inspection Title Inspection contingency 111

HomeLight

JUNE 15, 2023

As a rule of thumb, homebuyers can expect to pay between 2% and 5% of the purchase price in closing costs, with the bulk of that number going to fund title services, lending services, and certain taxes. Inspections Some property inspection fees may be due at closing; others are paid upfront to the inspector.

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Closing costs Closing Title Inspection 98

McKissock

JUNE 26, 2022

Help Get a Client Pre-Approved for Lending. To help make their process as seamless as possible, connect your client with a lender and secure mortgage pre-approval before flipping through hundreds of listings. Manage the Inspection. Be prepared to step in and help them close the deal!

Agents 66

Agents Pre-approval Inspection Closing 66

HomeLight

JULY 31, 2022

It’s important to distinguish that appraisals are not intended to be a home inspection. While an appraisal is not in the same category as the more in-depth home inspection, different mortgage types (such as conventional loans or government-backed FHA , USDA, or VA loans ) have different minimum property standards.

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Closing FHA loan Purchase and sale agreement Inspection 98

Redfin

FEBRUARY 10, 2021

Home Inspection Fee. Get Pre-approved. When being approved by a mortgage lender, you should be aware that there is a small but relevant difference between the typical fast preapproval for a home loan versus an underwritten pre-approval. Get a Home Inspection. Geological study. Closing costs*.

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Debt-to-income ratio Pre-approval Inspection Loans 76

Redfin

AUGUST 3, 2022

They can advise on whether a home is listed at a fair asking price, what to make of the home inspection, assist in the negotiation process, and explain the paperwork involved in the closing process. Research mortgage options and get pre-approved for a home loan. Find a great home inspector and schedule a home inspection.

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

HomeLight

AUGUST 20, 2021

Typically within a week after you’ve had the house inspected, you’ll most likely have to endure a home appraisal , a professional assessment of your home’s value. Ford shares an example: “In California, pre-1978 and pre-1992 housing were of lower quality. Pre-1978 did not require any corner sheer panels.

FHA loan 105

FHA loan Inspection Pre-approval Loans 105

HomeLight

MARCH 6, 2023

Other reasons most appraisals are ordered include matters related to inherited properties and sellers who want a pre-listing appraisal. If you’re a seller: If desired, you can request a pre-listing appraisal, which sellers usually pay for upfront. Is a seller’s pre-listing appraisal worth it in California?

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Pre-approval Purchase and sale agreement Agents Loans 102

RIS Media

MARCH 25, 2022

This is an entirely different dynamic from 2008, which was driven by lax lending,” said Chris Masiello, CEO of BHGRE The Masiello Group in Northern New England. In Lehigh Valley, it takes 3-5 years to approve a subdivision, which is a significant deterrent when you can get an immediate return in the stock market.”. Get pre-approved.

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HomeLight

AUGUST 16, 2021

The higher your score, the more likely you’ll be approved for a mortgage, and the better rate you’ll be offered. Grab your free annual credit report for all three credit bureaus (Experian, TransUnion, and Equifax) from government-approved site AnnualCreditReport.com. Apply for a pre-approval with your top choice lenders.

Closing costs 105

Closing costs Purchase and sale agreement Inspection Loans 105

HomeLight

OCTOBER 9, 2023

If you are approved for up to $450,000, I recommend shopping for homes between $350,000 and $425,000,” says Wordelman. “In You don’t get to ask for more once you sign off on the inspection, so be clear on what you expect.” I see so many offers come across my desk without pre-qualification letters,” he says. “A

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Pre-qualification Pre-approval Agents Loans 111