Housing Wire

APRIL 13, 2021

Richardson also noted that there have been fewer property inspection waivers issued by Fannie Mae in the last several months, keeping appraisers, inspectors and others in valuation very busy. One thing she does not recommend — unless the buyer is a builder or other very experienced player — is waiving the option period.

Marketing 535

Marketing Option period Lending Loan Officer 535

HomeLight

MARCH 7, 2024

Contingencies: Conditions that must be met for the sale to proceed, such as home inspections, financing approval, and the sale of the buyer’s current home. Unresolved title issues: Encumbrances or disputes related to the property’s title can complicate the sale, prompting buyers to cancel the agreement.

Purchase and sale agreement 116

Purchase and sale agreement Earnest money deposit Option period Due diligence 116

HomeLight

MAY 24, 2022

Every home sale has its quirks, but in general, “a cash sale can be turned over in a week to two weeks,” according to Suz Poepke Pohl, owner and escrow agent at Cygneture Title for the past 10 years. Secure title and escrow services: 1 day. Title search: 3 days. Inspections: One week to book; 2 to 4 hours to complete.

Purchase and sale agreement 111

Purchase and sale agreement Closing Title search Title 111

HomeLight

JULY 31, 2021

Cash investors tend to have access to more capital, resources, and contractors to handle major structural repairs, while traditional buyers are likely to be scared off by an inspection report that flags a faulty foundation. Both parties sign a contract and submit it to a title company. Hot climate.

Investor 111

Investor Title Sales Due diligence 111

HomeLight

MARCH 13, 2023

Once both parties agree on the price, they sign a contract and submit it to a title company (at which point it goes into escrow). The buyer does due diligence during the option period in California, which is typically one to 10 days. I get inspections on big-ticket items like the sewer and the foundation.

Sales 105

Sales Purchase and sale agreement Due diligence Inspection 105

HomeLight

MARCH 13, 2023

You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises. Home-buying companies generally pick up closing costs including title search and title insurance that usually range from 1.5% Both parties sign a contract and submit it to a title company.

Sales 98

Sales Investor Due diligence Renovation 98

HomeLight

MARCH 16, 2023

Ramcharitar says sellers also pay 2% of the sales price for closing costs and another 2% for title insurance. He adds that negotiations and home inspection issues could further reduce the price by 10%. Home-buying companies generally pick up the remainder of closing costs that total about 8% including title search and title insurance.

Sales 93

Sales Purchase and sale agreement Earnest money deposit Investor 93