Remove Pre-approval Remove Title Remove Title search
article thumbnail

Preparing to Get Pre-Approved For a Mortgage

Realty Biz

Mortgage pre-approval is an essential step when buying a house. It gives you a clear understanding of your budget and helps you make informed decisions when searching for properties. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details.

article thumbnail

Can You Put an Offer on a House That’s Contingent?

RIS Media

While financing may be pre-approved, the process is complex. The title search reveals issues. Whenever you’re purchasing real estate, a title search is one of the standard boxes that must be checked. The title needs to be clean. The clause is referred to as a home sale contingency. .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor.com

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
article thumbnail

How to Sell a House to a Friend So No One Feels Cheated: 11 Do’s and Don’ts

HomeLight

“They help clients save money by representing both sides and a pre-arranged discount.”. Not all states require you to hire a real estate attorney to buy or sell real estate, but it’s almost always advisable to get legal representation in a sale among parties with a pre-existing relationship. Don’t: Be lenient on the pre-approval step.

article thumbnail

Steps to Selling an Inherited Property in North Carolina

HomeLight

Review any existing estate plans “So much with estates is about pre-planning on inherited property,” Hillman says. Hillman says a title search will help to reveal the status of the property. Here are the steps to selling an inherited property in North Carolina: 1.

article thumbnail

15 Homebuying Terms You Should Know When Searching for Your New Home

RIS Media

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. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. The fee, usually 0.3 – 1.5

article thumbnail

10 First-Time Home Buyer Blunders To Avoid

Lighter Side of Real Estate

Ask an agent to go see houses before getting pre-approved. There’s no greater let down than finding a house you love, and finding out you can’t be approved for a mortgage in the price range of that house. Besides, many sellers and their agents won’t even consider your offer if you don’t include a pre-approval letter.