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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

Contract Cancellations Are on the Rise According to recent data , more home sales are being canceled than in previous years. In January alone, over 41,000 home-purchase agreements fell through, representing 14.3% of all pending sales that month. Meanwhile, pending home sales have dropped. Thats up from 13.4%

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How to Determine Buyer Readiness—Without Asking “Are You Pre-Approved?

BAM Media

It’s an acronym that provides a framework for conversations around buyer qualification. But you’re more likely to be chosen as their listing agent when you’ve done a great job on the purchase side. I’m not a big fan of asking, “ Hey, are you pre-approved ? They’re able to purchase a home.

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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. If approved, they move to submit a full 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.

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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? An offer your friend submits to escalate the purchase price doesn’t qualify. The buyer will generally specify a maximum purchase price. Back out of the agreement. You’re thrilled but also confused.

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

HomeLight

Home sales have skyrocketed, and home inventory is historically low. A step up from pre-qualification, preapproval often means the lender gives conditional approval, stating the size of the mortgage you’ve been preapproved for (though what constitutes a “preapproval” can vary from lender to lender). Not so fast.

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Assumable Mortgage For Homebuyers: How Does It Work?

Lab Coat Agents

An assumable mortgage is a financial agreement where the buyer takes over the seller’s existing mortgage. The seller’s lender must approve the assumption, guaranteeing the buyer is creditworthy and capable of managing the mortgage payments. The buyer must also meet qualifications for demonstrated creditworthiness.

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Frequently Asked Questions about Buyers Agents in Real Estate

Realty Biz

When choosing a buyer's agent, consider factors like experience and qualifications. Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure.