HomeLight

JANUARY 17, 2024

Buying a house is a major milestone, but what happens when you have second thoughts, or you can’t fulfill the agreement you signed? Backing out of a home purchase isn’t a decision made lightly, yet it’s a scenario that buyers might face. But what’s the real meaning of backing out of a home purchase?

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Purchase and sale agreement Debt-to-income ratio Title search Finance 111

Redfin

MARCH 7, 2025

Comparable sales (comps) Reviewing recent sales of similar homes in your area, called real estate comps , helps determine a fair listing price. How to price your home for sale A good starting point is to get your Redfin Estimate , which gives you a ballpark figure of what your home is worth and what price you could sell your house for.

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Sales Purchase and sale agreement Pre-approval Agents 59

HomeLight

MAY 27, 2021

When you signed the listing contract to put your house on the market, you had high hopes for a quick sale. And now you’ve realized that even the listing agreement with your agent has expired. We’ll fill you in on what obligation (if any) you have to your agent and what your options are to complete the sale.

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Marco Santarelli

NOVEMBER 23, 2024

Conducting due diligence is essential before committing to a purchase. Your network can provide you with early access to new properties, assist in identifying potential investment opportunities, and provide crucial advice during critical stages of a transaction. 10 Genius Strategies to Expand Your Real Estate Portfolio in 2025 1.

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Redfin

MARCH 4, 2025

In this Redfin article, well review the real estate forms you should get ready at each stage in the process of selling your home. Appliance records Be sure to collect any warranties, manuals, and relevant service records for major appliances that are included with the sale of your home. Deed Youll need the deed to your house.

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Purchase and sale agreement Title Inspection Pre-approval 31

Realtor.com

OCTOBER 29, 2020

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. If something is wrong, you can request that it be fixed—or you can back out of the sale. Clear the title.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. 24, you can expect to close on the sale of your home somewhere between the end of February to mid-March.

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Closing Purchase and sale agreement Pre-approval Inspection 116

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. With this expert-backed guide, we’re here to help: Here’s how to apply for a first time home buyers loan in eight manageable steps. Source: (LinkedIn Sales Solutions / Unsplash).

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Loans VA loan FHA loan Purchase and sale agreement 105

Realty Biz

DECEMBER 15, 2022

These days, having a neutral third party to make sure everyone is satisfied with the sale and purchase can give both buyer and seller more peace of mind. . Many home buyers and sellers know that escrow is a financial arrangement with a third party who holds money or other property until the terms of the sale are complete.

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Purchase and sale agreement Inspection Title Finance 127

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?

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Purchase and sale agreement Loans Inspection Closing costs 116

HomeLight

SEPTEMBER 15, 2021

Even if you’re listing your home without a Realtor’s® help, you’ll still need to gather the necessary paperwork for the sale and fill it out correctly. We hope it helps illuminate this tricky part of the sale, while giving you an honest idea of just how complex real estate transactions can be! Original sale contract.

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Purchase and sale agreement Inspection Title Pre-approval 116

HomeLight

MAY 27, 2021

In a home sale, the occupancy date is when a buyer has the legal right to move into their newly purchased home. It depends on your agreement with the buyer. The purchase agreement specifies both the closing date and the date the buyers will be able to move in. To your horror, the buyers step out of the truck.

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Purchase and sale agreement Closing Staging Loans 100

Realty Biz

NOVEMBER 10, 2021

Listed homes for sale are classified in different ways to help you understand how far along in the sales process they are. If you see a home listed as “active,” this means it is for sale with the sellers considering bids from potential buyers. Will the Contingent Home Sale Fail? What Does Contingent Mean in Real Estate?

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Purchase and sale agreement Inspection Inspection contingency Finance 129

HomeLight

AUGUST 30, 2021

For the right would-be buyer, a rent-to-own arrangement can be an ideal path to invest in a future home purchase — a time to save money and improve credit, or wait for an expected shift in circumstances, while living in a home that will one day be yours. Further, take time to learn more about this type of purchase.

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Realty Biz

MARCH 27, 2022

When you have a lot of competition from buyers to get to the under agreement stage with a seller, there isn’t much chance of success with a lowball offer. Typically, the earnest money is 1% to 5% of the purchase price. It’s something you really should consider to make your offer stronger. Make a Strong Bid.

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Purchase and sale agreement Earnest money deposit Seller concession Finance 117

GeekEstate

OCTOBER 29, 2021

This market map real estate technology companies operating across every phase of the home purchase value chain. These companies have collectively raised more than $30B in venture capital, and range from seed stage businesses to public companies. As such, we’ve included the Blend logo in those areas.

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Technology Marketing Purchase and sale agreement Equity 136

HomeLight

JANUARY 5, 2022

Unlike taking your house off the market , withdrawing from a purchase contract can cost you big time. In this blog, we explain under what circumstances a seller may cancel a home purchase agreement. Why might a seller want to back out of a home sale? But are you stuck? Not necessarily. Change in circumstances.

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HomeLight

JANUARY 21, 2025

As a first-time seller, youre likely familiar with the home sale process from when you were on the buyers side of the table. Assuming your house is in great shape You might think your home is in adequate condition for sale. Zajdzinski says flexibility is key to a quick and successful sale. Find an Agent 1.

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Realty Biz

JULY 1, 2023

Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. The National Association of Realtors (NAR) conducted a survey in October 2022, revealing that approximately 7% of deals in the preceding three months got terminated before reaching the closing stage.

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

HomeLight

MARCH 31, 2022

Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% With such impressive sales figures, some Florida sellers may be curious about how to sell a house by owner in Florida — a decision that could help them save on agent commissions. Average home sale price in Florida: $530,419 (Jan 2022).

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HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

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HomeLight

MARCH 3, 2025

The most common request I get for as-is sales, are situations where a house is in significant disrepair. Those are the two types of situations in which I typically see a request for an as-is sale, Connor adds. As is is a type of home sale in which its understood that no improvements will be made to the property.

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As-is Purchase and sale agreement Inspection Finance 52

HomeLight

SEPTEMBER 13, 2022

The selling price will set the stage for how the transaction will be handled moving forward. It will determine whether or not the buyer needs to acquire a loan and/or what sort of taxes the seller may face once the deal is complete. Sign a purchase agreement. Reasons to cancel the agreement. fixtures , appliances).

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Purchase and sale agreement Title Title search Finance 111

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. a reduction in “the interest rate on any pre-service loans to a maximum” of 6%. Home Loan program.

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VA loan Purchase and sale agreement Short sale Pre-approval 95

HomeLight

MARCH 31, 2022

price increase , pushing median sale prices to upward of $350,000. With such impressive sales figures, some sellers may be curious about how to sell a house by owner in Arizona — a decision that could help them save on agent commissions. Median sales price: $449,900 (Feb. Median sales price: $449,900 (Feb. 2022 , a 28.5%

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Purchase and sale agreement Inspection Inspection contingency MLS 110

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

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Sales Purchase and sale agreement Earnest money deposit Investor 93

HomeLight

APRIL 21, 2022

Marketing your home “for sale by owner” (known as FSBO ) or selling to an iBuyer (instant buyer) like Opendoor or Offerpad are options that may seem to prioritize profit and speed, respectively. Depending on the time of year and sales in your area, the season may impact your profit potential even more. What factors come into play here?

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Purchase and sale agreement Staging Agents Home sale contingency 115

HomeLight

MAY 3, 2023

Depending on the price range of the home, I tell my clients that they need to be ready to spend 9%–10% of the sale price on selling costs, including the real estate agent commission and closing costs,” says Joanne McCoy , a top-selling real estate agent in Lincoln, Nebraska. Selling fee Typical % of sale price Real estate agent commission 5.8%

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Seller concession Purchase and sale agreement Inspection Title 111

HomeLight

OCTOBER 27, 2021

A home is in preforeclosure when the owner has stopped making mortgage payments for several months and their loan is delinquent or in default — so the owner is approaching foreclosure. At this stage, official notice of default has been issued and is publicly available. Step 2: Get preapproved for a loan. Step 3: Find your house.

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HomeLight

NOVEMBER 1, 2021

If you’re selling your Kentucky home, you may be wondering how much you’ll make on the sale, what required costs will eat into your profit, and where you can cut costs. This means understanding which fees you’ll be responsible for when the sale closes. Percentage of sale or flat price. 150,000 sale). 150,000 sale).

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HomeLight

JANUARY 10, 2023

With such impressive sales figures, some sellers may be curious about how to sell a house by owner in California — a decision that could help them save on agent commissions. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Fast Fasts for Selling a House in California.

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Purchase and sale agreement Natural hazards disclosure Inspection Title 111

HomeLight

NOVEMBER 9, 2021

If you need to move even more swiftly than that, selling to an online direct buyer through a platform like HomeLight’s Simple Sale could take as little as 10 days. The Simple Sale process frees you of the hassle of staging your home and jumping through hoops for the buyer’s lender. Direct Buyer (Simple Sale).

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Purchase and sale agreement Home sale contingency Title search Inspection 105

HomeLight

SEPTEMBER 30, 2022

Their insight and experiences can help you avoid costly problems, prevent unpleasant surprises, and make a smarter purchase. It may be helpful and provide peace of mind to have someone in your corner whose primary obligation is to serve your needs, especially if you’ve never purchased a new construction home before.

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Construction Purchase and sale agreement New Construction Inspection 111

HomeLight

FEBRUARY 4, 2022

If you haven’t purchased a home before, you probably have lots of questions about the process. Source: (LinkedIn Sales Solutions / Unsplash). Work with you to write a compelling purchase offer. Coordinate with the closing attorney and seller’s agent to finalize the sale. … An agent is your advocate. And lots more!

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Agents Purchase and sale agreement Due diligence Inspection 115

HomeLight

MARCH 31, 2021

The Georgia Association of Realtors reports that closing costs in Georgia typically range 5% to 10% of the home’s sale price. This total cost includes: Prep costs: $5,238 for pre-listing home improvements such as lawn care, painting, staging, and more. Loan payoff amount. Loan reconveyance fee. Not in Atlanta?

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Closing costs Closing Purchase and sale agreement Title search 105

The Close

SEPTEMBER 19, 2024

These negotiation strategies are vital elements of real estate transactions and often determine the success or failure of a property sale. By mastering these techniques and learning from real estate counteroffer examples, agents can ensure that buyers and sellers achieve mutually beneficial agreements.

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Purchase and sale agreement Agents Inspection Home sale contingency 97

Toronto Realty Blog

JULY 31, 2023

TorontoRealtyBlog When I sold my first condo back in 2009, I had no problem including all of my patio furniture in the sale, since I was moving to a new condo with an even bigger patio, and I had already purchased new furniture. The point I’m making is this: once the sale closes, the buyer has zero leverage, right or wrong.

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