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Can You Put an Offer on a House That’s Contingent?

RIS Media

While financing may be pre-approved, the process is complex. The lending institution can also stop the transaction. . The title search reveals issues. Whenever you’re purchasing real estate, a title search is one of the standard boxes that must be checked. The title needs to be clean.

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10 First-Time Home Buyer Blunders To Avoid

Lighter Side of Real Estate

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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Tips for Buying a Foreclosure Property

Point2Homes

This should show you how much you can afford to spend on mortgage payments and reveal how much a bank is likely to lend to you. Getting Pre-Approved. It’s always advisable to get pre-approved for a mortgage in any home purchase so you can make sure that you can actually get the loan that you believe your income justifies.

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How to Sell a House to a Friend So No One Feels Cheated: 11 Do’s and Don’ts

HomeLight

“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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Understanding Mortgage Terms for Home Buyers

Realty Biz

These can include title search fees, appraisal fees, attorney fees, and more. Pre-Approval : A written commitment from a lender stating the amount they are willing to lend to a borrower. Lenders require an appraisal to ensure the property is worth the amount of money they are lending.

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New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

“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.

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How Long Does It Take to Close on a House From Start to Finish?

HomeLight

And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. However, a seller can usually skip the closing by either pre-signing the documents in advance or giving their attorney a power of attorney to sign on their behalf. Title issues: (~11% of delays).

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