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Thinking About a Rent-to-Own House? Here’s What You Need to Know

HomeLight

We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements. Lease-purchase agreements.

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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. They must be traditional sales or for sale by owner (FSBO) homes. Homes must be listed at a price point between $100,000 and a metro’s designated maximum purchase price (which Home Partners sets).

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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). Perfect match, right?

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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. This approval process helps protect the lender’s interests while offering flexibility for buyers looking to save on their home purchases. The buyer must also meet qualifications for demonstrated creditworthiness.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

There’s a house for sale that you want to buy. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. 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.

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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.