Remove Principal Remove Rent back Remove Sales
article thumbnail

The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

Kolluri, Principal Deputy Assistant Secretary for HUD and FHA, in a press release published when the policy change was announced. The number of first-look auction sales nearly doubled in the fourth quarter compared to the third quarter and has increased in every successive quarter since, representing 11.5%

article thumbnail

5 Killer Tips For Beating a Cash Buyer

Realty Biz

To make an informed decision, it’s important to understand the following: 1) What is the inventory of houses for sale? With bidding wars, it increases the odds the bank appraisal will come in less than the sales price. Let The Seller Rent Back The House. 2) How low is the demand for houses? Final Thoughts.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Hot Housing Market Leaves People Afraid to Trade Up

Realtor.com

from a year earlier, and the number of homes for sale fell to record lows earlier this year. That scarcity has helped lift home prices to all-time highs and has started to slow down the pace of sales. Some sellers negotiate rent-back agreements, so they can stay in their home for a month or longer after selling while they house hunt.

article thumbnail

Should I Sell My House in 2022? Factors to Help You Decide

HomeLight

Sales of existing homes fell for the second consecutive month by 2.7% Sales dropped from March 2021 in all four major US regions. Prices in March 2022 were 15% higher than a year before for existing home sales. With a cash buyer, there’s no worry about mortgage approval or financing contingencies delaying the sales process.

article thumbnail

Staying After Selling: What to Know About Use and Occupancy Agreements

HomeLight

As excited as you are about the prospect of a successful sale, you’re hesitant to sign a contract without knowing you’ll have somewhere to go. On the flip side, the U&O can allow the seller to remain in the home for a certain amount of time after closing (also known as a “rent-back” agreement).

article thumbnail

Get Your Own Slice of the Big Apple: Buying a House in Manhattan

HomeLight

to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits. Studio apartments with an alcove for more space start at $650,000 in co-ops compared to $860,000 in condos. million in condos. Closing costs can range from 2.5%