Realtor.com

OCTOBER 29, 2020

Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Clear the title. When you buy a home, you “ take title ” to the property and establish legal ownership—a process that’s confirmed by local public land records. Get final mortgage approval.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

RIS Media

APRIL 18, 2022

Allowing the seller to rent back for a specified amount of time. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. Your agent can help you get pre-approved for a mortgage in the current market.

Pre-approval 119

Pre-approval Backup offer Due diligence Rent back 119

HomeLight

APRIL 29, 2021

Work with the title rep to review and clear any title issues. Your buyer’s loan approval is often the closing step that takes the longest. Issues like loan delays, survey issues, and title issues can stretch your closing weeks or longer. Do you need interim housing, a specific closing date, or a seller rent back ?

Purchase and sale agreement 98

Purchase and sale agreement Pre-approval Inspection Inspection contingency 98

HomeLight

NOVEMBER 10, 2021

After you submit your documentation, you’ll know what kind of budget you have to work with, or your approval “ceiling.”. They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. If it does come in lower, the lender won’t approve the mortgage.

Inspection 98

Inspection Title Agents Pre-approval 98

The Close

APRIL 28, 2022

In most real estate transactions, the seller pays for the costs of the title insurance, escrow, and homeowner association (HOA) fees. One benefit of this is that in most cases, when the buyer pays for the title policy, they are able to select which title company they wish to purchase the title insurance policy from.

Rent back 105

Rent back Closing costs Finance Agents 105

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. Do they need to do a rent-back on the house, or do they want a quick close?

Closing 118

Closing Earnest money deposit Sales Inspection 118

The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. That could be a pretty sizable chunk of money from the seller’s profit.

Pre-approval 76

Pre-approval Earnest money deposit Inspection Inspection contingency 76