Lighter Side of Real Estate

MARCH 5, 2025

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. Meanwhile, pending home sales have dropped. Before signing a contract, consider: The buyers financial qualifications. Thats up from 13.4% The buyers demeanor.

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Purchase and sale agreement Pre-qualification Pre-approval Inspection 79

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

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HomeLight

OCTOBER 22, 2021

It’s tough to say without a mortgage approval, but it always helps to start with a home affordability calculator. You may be wondering how affordability calculators work if you’re ready to get some numbers down on paper before showing up for a pre-qualification meeting with a lender. So, how much home can you afford?

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Pre-qualification Pre-approval VA loan FHA loan 111

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. Short sales are rarer in the housing market nowadays.

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BAM Media

JULY 2, 2024

It’s an acronym that provides a framework for conversations around buyer qualification. I’m not a big fan of asking, “ Hey, are you pre-approved ? If they say no, and they’ve been pre-approved with enough cash to put down, great! What if they need cash from the sale? Would you like one?”

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Realty Biz

MARCH 17, 2021

Know what must happen in order to close, or you won’t make the sale. Explain the difference between pre-qualified and pre-approved. Too many people get a pre-qualification letter from their bank and think that this means they can close on the property. Help them get pre-approved for a mortgage.

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HomeLight

FEBRUARY 12, 2021

As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. Defective paint surfaces in homes constructed pre-1978. A low appraisal is more likely to jeopardize the sale.

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FHA loan Loans Pre-approval Pre-qualification 111

Realty Biz

DECEMBER 10, 2020

It is effortless to start looking at homes that you will later find you can’t afford when you try to get approved for a mortgage. As such, this qualification process will only give you a rough idea of the size of mortgage you can get. Comparing a Mortgage Preapproval to Full Approval. The Mortgage Pre-approval Process.

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Loans Mortgages Pre-approval Pre-qualification 144

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. The fee, usually 0.3 – 1.5

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RIS Media

JANUARY 19, 2021

Before you start looking for your next home, you should get pre-approved for a mortgage. You don’t necessarily have to borrow money to buy a home from the same lender that pre-approved you. What is Pre-approval and Why is It Important? Pre-approval and pre-qualification are not the same thing.

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Pre-qualification Pre-approval Mortgages Finance 69

CT Homes

AUGUST 31, 2020

There is a huge difference between a pre-qualification and a pre-approval. Most lenders or mortgage companies will issue a pre-qualification letter after reviewing the credit report and taking verbal information on income, assets and employment. Financing Issues.

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Earnest money deposit Pre-qualification Pre-approval Inspection 105

Realty Biz

MARCH 30, 2023

Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Be sure to have all of your documentation in order and ready to go before starting the pre-approval process. that may help you get approved with favorable terms.

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Mortgages Pre-approval Pre-qualification Due diligence 101

HomeLight

MAY 24, 2021

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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Pre-qualification Pre-approval Purchase and sale agreement Loans 111

Realty Biz

JANUARY 30, 2023

When it comes to making an offer on a house, whether it’s for-sale-by-owner or a ready-to-move property, a personal letter can make all the difference. Include any qualifications you may have, such as being pre-approved or flexible on your closing date.

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HomeLight

JUNE 28, 2021

While Roberts says the net purchase price is often the primary factor when selecting an offer, sellers should evaluate the overall strength of the offer, along with the buyer’s commitment to completing the sale. With a loan pre-approval, an underwriter has reviewed the buyer’s income and asset documentation.

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Earnest money deposit Purchase and sale agreement Pre-approval Pre-qualification 98

HomeLight

NOVEMBER 16, 2021

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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Purchase and sale agreement Pre-approval Debt-to-income ratio Pre-qualification 104

HomeLight

JANUARY 31, 2022

Tip 1: Get pre-approved for a mortgage first. The best way to know for certain what you can afford is to get pre-approved for a mortgage. Begin by knowing the difference between pre-approval and pre-qualification , and look at your loan options. Source: ( Marsiglio / Unsplash). Conclusion.

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HomeLight

SEPTEMBER 15, 2022

Once you’ve made the decision to sell your house, you likely have two main goals: to complete the sale as quickly as possible and to hit that magic number when it comes to price. Greater competition among buyers, which can lead to a sale price higher than market value. Step 4: Determine the qualification process for bidders.

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HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

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Pre-approval Pre-qualification FHA loan Inspection 105

Kyle Handy

APRIL 8, 2023

Each aspiring agent must complete 180 classroom hours of pre-licensing education covering real estate finance, contract law, and real estate principles. Required Courses To become a real estate agent in Texas, you must complete 180 classroom hours of pre-licensing courses approved by TREC.

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Pre-qualification Pre-approval Agents Finance 82

HomeLight

DECEMBER 8, 2023

If you’re juggling the sale of your current Ohio home with the purchase of a new one, it might feel like walking a financial tightrope. You can then make a strong offer on your next home with no home sale contingency. Most lenders will require that your current property is listed for sale. More on loan costs below.)

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Equity Loans Debt-to-income ratio Home sale contingency 111

Kyle Handy

MAY 5, 2023

To summarize: Age : Must be 18 years old or older Residency : Legal US resident or lawfully admitted alien Background : No disqualifying criminal history Once you meet these basic requirements, complete the necessary pre-licensing courses, submit the required documentation, and pass the California real estate exam.

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Pre-approval Pre-qualification Agents Brokerage 80

Realty Biz

FEBRUARY 16, 2024

You need to finish a state-approved pre-licensing real estate course. In addition, the state can request to attend approved real estate courses every few years. Complete a pre-licensing education (varies from state to state but usually lasts around 135 hours) and pass a state licensing exam. Now comes the real challenge!

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Lab Coat Agents

NOVEMBER 20, 2024

The seller’s lender must approve the assumption, guaranteeing the buyer is creditworthy and capable of managing the mortgage payments. This approval process helps protect the lender’s interests while offering flexibility for buyers looking to save on their home purchases.

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Purchase and sale agreement Mortgages Pre-approval VA loan 98

Realty Biz

SEPTEMBER 23, 2023

When choosing a buyer's agent, consider factors like experience and qualifications. Understanding the mortgage process, including prequalification and pre-approval, is also essential. How Buyer Agents Get Paid Buyer agents are typically compensated through a commission fee, a percentage of the property's final sale price.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 70

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. CalHFA works through approved lenders, and buyers apply for the program through their loan officer. Loans are between 3%-3.5%

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HomeLight

OCTOBER 9, 2023

A Top Agent Can Help You Find A House You Can Afford We analyze millions of home sales to find buyer’s agents who will show you the right home at the right price. If you are approved for up to $450,000, I recommend shopping for homes between $350,000 and $425,000,” says Wordelman. “In Our service is 100% free, with no catch.

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Pre-qualification Pre-approval Agents Loans 111

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. CalHFA works through approved lenders, and buyers apply for the program through their loan officer. Loans are between 3%-3.5% What is their timeline and what will make our offer stand out?”

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Closing Earnest money deposit Sales Inspection 118

Realty Biz

SEPTEMBER 7, 2020

This puts sellers in a prime position to increase their selling price and improve their financial situation when selling a home— especially when the house is for sale by owner. Start showing your home a week or two before it officially goes up for sale to build hype. In many cases, the offers are near or above the listing price.

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Pre-qualification Pre-approval Sales Loans 70

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Loan approval. 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. Requesting a reasonable decrease in the sale price based on the cost of repairs. Easy, right?

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Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

AUGUST 31, 2021

Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved.

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Due diligence Inspection Pre-approval Pre-qualification 106

Realty Biz

JULY 5, 2022

I thought that I might want to start my own retail sales business, but I don’t have the capital to get started. Aurora, in Georgia the minimum requirements according to the Georgia Real Estate Commission are: Qualifications: 18 years of age or older. Complete a 75-hour Salesperson Pre-license course at an approved school.

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Agents Pre-qualification Pre-approval Commercial 94

HomeLight

JUNE 30, 2021

For example, you can keep details about pre-qualification between you and your real estate agent. Source: (LinkedIn Sales Solutions / Unsplash). Have a pre-approval letter ready in case you fall in love. One way you can make sure that your offer is competitive is by having a pre-approval letter ready.

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Pre-approval Pre-qualification Inspection Agents 94

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage Before you start looking at Dallas homes for sale , the most important thing you can do as a first-time buyer is to get pre-approved with a local lender. Lenders are careful, but they make qualification decisions based on averages and formulas. Let’s get started.

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Pre-approval Agents Pre-qualification Mortgages 63

Ryan Serhant

MARCH 16, 2022

Meet the pre-qualifications. Complete 40 hours of approved VT pre-licensing education. Meet the pre-qualifications. . Meet the pre-qualifications. . You must meet a few pre-qualifications from the Vermont Real Estate Commission (VREC) before you can start working on your license education.

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Ryan Serhant

APRIL 15, 2022

Meet the pre-qualifications. Meet the pre-qualifications. In Texas, you need to meet some pre-qualifications before you can start your real estate licensure journey. You’re also required to take pre-licensing coursework to help you prepare for the state licensing exam. . File your license application.

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Pre-qualification Pre-approval Brokerage Agents 52

Ryan Serhant

APRIL 26, 2022

Meet the pre-qualifications. Complete pre-licensing education. Make sure you meet the pre-qualifications. . Before you can start working on your license education, the Tennessee Real Estate Commission (TREC) requires that you meet a few qualifications. Complete pre-licensing education. .

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Pre-qualification Pre-approval Brokerage Agents 52