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Home sale cancellations hit record high in January

Housing Wire

Home sale cancellations in the U.S. The figure, which represents over 41,000 failed home-purchase agreements, marks an increase from 13.4% The trend is most pronounced in Atlanta, Las Vegas, Houston, and parts of Florida , where increasing housing supply is leading to a buyers market. home-sale price rising 4.1%

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loanDepot eyes purchase business in the South with new mortgage JV

Housing Wire

loanDepot has signed a new joint venture agreement with Smith Douglas Homes , a top-50 homebuilder with a solid book of business in the Southern states.

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Buyers backing out of purchase agreements at elevated rates: Redfin

Housing Wire

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of purchase agreements.

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Nearly half of home sellers are offering concessions

Housing Wire

of home sales from January through March included concessions such as money toward repairs, closing costs or mortgage rate buydowns. McVay said concessions have become a strategic way for sellers to meet buyers financial needs without lowering their sale price. According to a new report from Redfin , 44.4% Thats up from 39.3%

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Ruoff Mortgage teams with Calque on ‘buy before you sell’ offering

Housing Wire

Buyers are not required to prepare their current home for sale until after they move into the new property. It is quite common that our customers are faced with challenges around selling their current home before they can purchase a new home,” Ruoff Mortgage CEO Clint Morgan said in a statement. “We

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Navigating movement in the mortgage industry series: Due diligence in mergers and acquisitions

Housing Wire

Material contracts There may be numerous contracts containing provisions that may trigger liability or exposure upon the sale of a business. These issues are not a consideration when the M&A discussions begin, but it could significantly impact the final purchase price in order to address an unforeseen liability.

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Brokers struggle to scale the brick wall of membership agreements

Housing Wire

Some real estate brokers have found their path blocked as they try to navigate the membership agreements mandated by NAR and their local Realtor associations to gain access to MLS listings. NARs three-way membership agreement requires Realtors to join associations at the local, state and national levels.

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