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Selling Your Home? Here’s Why More Deals Are Falling Apart (And How to Keep Yours on Track)

Lighter Side of Real Estate

In competitive markets, where demand outpaced supply, buyers had fewer options, and backing out of a contract wasnt something many considered unless something major went wrong. Contract Cancellations Are on the Rise According to recent data , more home sales are being canceled than in previous years. of all pending sales that month.

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Can I Sell My House to a Family Member at Below Market Value?

HomeLight

Financing hoops: You may face additional scrutiny from the lender if your buyer will use a mortgage for their purchase. The following resources may also be of assistance in your family sale: Real estate agent: For a reduced commission rate, an experienced agent can help minimize challenges and coordinate the sale. Get Estimate.

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Thinking About a Rent-to-Own House? Here’s What You Need to Know

HomeLight

We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements. Lease-purchase agreements.

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I Want to Buy a House in 2021. How Much Should I Offer Over the Asking Price?

HomeLight

If you’re looking to buy in 2021, then you already know that the market is white-hot. Home sales have skyrocketed, and home inventory is historically low. That means it’s a prime seller’s market — and a potentially tough go for hopeful buyers. you must do your homework on both the market and your personal financials.

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These Rent-to-Own Homes Programs to Help You Get Into That House

HomeLight

Through the Home Partners program, prospective rent-to-own homebuyers start by filling out a pre-qualification application. Buyers will need to meet Home Partners’ minimum FICO requirement, which varies by market, and a maximum debt-to-income ratio (DTI) of 45% to be approved. If approved, they move to submit a full application.

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Handle Escalation Clauses With Care: 5 Tips for Sellers Negotiating Multiple Offers

HomeLight

Why do some offers have one price on the purchase agreement and another price on the escalation addendum? In competitive seller’s markets , some buyers will strengthen their offer with an escalation clause. But even in a strong seller’s market, mishandling offers with escalation clauses can backfire.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

There’s a house for sale that you want to buy. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process.

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