The Close

JANUARY 21, 2025

Real estate wholesaling is a cost-effective way to start investing if you have limited funds and want fast returns without dealing with costly renovations or tenants. Wholesalers act as intermediaries, facilitating transactions between sellers and buyers without owning or renovating the property.

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Investor Title Renovation Due diligence 96

HomeLight

DECEMBER 2, 2021

We break down what the cost of a home sale could look like based on the average U.S. home sales price of $453,300, as reported by the Federal Reserve Bank of Saint Louis. Accounting for your payoff amount will help you determine how much cash you’ll net after your home sale closes. Major home repairs and renovations.

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Seller concession Staging Inspection Renovation 122

HomeLight

JANUARY 29, 2021

Run a title search to surface liens or judgments attached to the property, such as unpaid taxes, a home equity line of credit, or a reverse mortgage. Only the executor or personal representative is legally authorized to make decisions about the home sale. Source: (Slidebean / Unsplash). Know where the mortgage stands.

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Pre-approval Title Renovation Title search 111

Realty Biz

JANUARY 10, 2024

We explore everything you should know for a first-time house sale by answering frequently asked questions. Additionally, you'll need to prepare all necessary documents, such as disclosure forms and title deeds, to ensure a smooth transaction. Paying careful attention to these details leads to successful sales. Let's dig in.

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Purchase and sale agreement Seller disclosure Staging Title search 103

The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. What Happens in a Real Estate Short Sale? Lets begin!

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Short sale Sales Due diligence Purchase and sale agreement 52

HomeLight

NOVEMBER 9, 2021

In addition, many cash sales happen directly between seller and buyer, removing the average 5.8% These commission charges are usually split between the listing agent and buyer’s agent who facilitated the sale. title search fee of $200. owner’s title insurance of $566. lender’s title insurance. on average.

Closing costs 110

Closing costs Closing Title Title search 110

HomeLight

MAY 28, 2021

You’ll be on the hook for the entirety of those repairs, and you can’t expect any financial help from the seller if you pursue the sale. In some as-is home sales, you might see a “where-is” specification added in. So any faults that arise after the contract is signed could affect the sale of the house. Conduct a title search.

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As-is Inspection Title search Inspection contingency 100

HomeLight

JANUARY 12, 2022

24, you can expect to close on the sale of your home somewhere between the end of February to mid-March. A cash sale can usually be turned over in a week to two weeks , as it allows you to skip the mortgage process and the appraisal, which are typically the two most time-consuming steps in the process. So if you list your home on Jan.

Closing 116

Closing Purchase and sale agreement Pre-approval Inspection 116

HomeLight

AUGUST 31, 2021

They’ll put the house up for auction either in a sheriff’s or public trustee sale (the name depends on what foreclosure process your state follows). Different types of foreclosure sales. Distressed sales accounted for just 1% of all home sales in April 2021. Short sale. Auction sale. Pre-foreclosure.

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Pre-approval Short sale Banks Finance 111

HomeLight

NOVEMBER 10, 2021

Gather repair and renovation records. If you’ve lived in your home for a significant length of time, chances are you have the records or receipts for appliance repairs and upgrades, renovations big and small, as well as services to your HVAC and fireplace. Consider a pre-sale inspection. Obtain a preliminary title report.

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Inspection Title Seller concession Renovation 122

Realty Biz

MARCH 31, 2023

These homes will not be listed for sale by the bank unless someone does not become a winning bidder. This can lead to the home being listed for sale in an auction. Homes with unpaid property taxes can also be subject to a tax deed sale. This means the title is sold at auction, and the home has a new owner.

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Title Title search Renovation Inspection 83

HomeLight

AUGUST 31, 2021

A divorce, job move, or low bank account can all be strong motivators to go for the speed and convenience of a cash sale. You’ll still have official steps to complete and hiccups like a title defect can still arise. Why we recommend Simple Sale by HomeLight. Simple Sale is HomeLight’s version of an iBuyer service.

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Proof of funds Investor Due diligence Title 144

HomeLight

AUGUST 16, 2021

Department of Housing and Urban Development (HUD) homes for sale portal. Reserve auctions are similar to minimum-bid auctions in that there is a fixed price that must be met to finalize the sale, but a reserve price is kept under wraps, while a minimum bid is clearly stated. Source: (Willy Barton / ShutterStock).

Title 111

Title Due diligence Finance Inspection 111

HomeLight

APRIL 15, 2022

A couple in Atlanta is ready to sell their charming and recently renovated three bed, two bath brick two-story home. We also include information about HomeLight’s Simple Sale platform, an online home-selling program that provides competitive all-cash offers for homes across the country. Request a Cash Offer from Simple Sale.

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Title House Flipping Title search Sales 109

Marco Santarelli

AUGUST 28, 2020

But with a 1031 exchange , you get to defer paying those taxes if you reinvest the proceeds in a new property, making an “exchange” rather than a sale. This means the taxpayer doesn't receive the money from the sale of the first property. This must be done within 45 days of the sale date of the first property.

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Investor Purchase and sale agreement Title Land 137

Rent, Buy & Sell

JANUARY 20, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs. For example, the average sale price of a home from January to March 2007 was $322,100. Drawbacks of Buying in a Housing Recession Not every home you spot for sale will be a good deal.

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Title search Short sale Title Fixed-rate mortgage 59

HomeLight

SEPTEMBER 27, 2022

After new home sales set records in 2021 , the Texas housing market cooled in recent months, generally seeing decreases for homes under $400,000 that offset increases for homes priced over $750,000. Prepping your home for sale. Pack your cowboy boots and kolaches recipes ; you’re ready to sell your Texas home! Get Estimate.

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Seller concession Closing costs Homeowner’s association Title 98

HomeLight

JULY 31, 2021

Reports from the National Association of Realtors show that nearly a quarter of existing home sales were made with all-cash in the spring of 2021 — but how do you go about finding your cash buyer? Our guide aims to address the urgency of needing cash with the level of thought and care that a sale of this weight requires. Good bones.

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Earnest money deposit Inspection Inspection contingency Title 98

Realtor.com

NOVEMBER 28, 2022

Homes for sale listed on Realtor.com will typically indicate if they’re eligible for USDA loans.). They can be used to purchase townhouses as well as single-family homes, fund new construction , or renovate an existing home. Repair/renovation loans and grants. Repair/renovation loan and grant applicant requirements.

Loans 95

Loans Mortgages FHA loan Debt-to-income ratio 95

HomeLight

FEBRUARY 14, 2022

With each house purchased by this investor, there’s an express goal to renovate and build out a home nicely, then turn it around and have it available for a tenant to rent-to-own,” Labus explains. Have a home inspection completed, order a title search , and — we can’t stress this enough — get everything in writing between you and the seller.

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Purchase and sale agreement Due diligence Finance Equity 109

HomeLight

JUNE 14, 2022

Days on the market or DOM is the number of days a property has been on the market from listing until having a signed sales contract. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Get Estimate.

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Seller concession Closing costs Agents Closing 119

HomeLight

AUGUST 10, 2022

When you’re estimating the costs of the sale , taxes can be a big part of the equation. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. How can I estimate the taxes I’ll owe on my home sale?

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Principal Title Sales Title search 105

HomeLight

JUNE 16, 2022

You’re likely wondering how much you might make on the sale, but also anxious about how much it will cost to make it happen. Days on the market or DOM is the number of days a property has been on the market from the time it’s listed for sale until the house is taken off the market with a signed contract. Get Estimate.

Seller concession 109

Seller concession Closing costs Inspection Agents 109

HomeLight

NOVEMBER 9, 2021

How soon will I receive my home sale proceeds? What taxes will I owe on my home sale? Escrow refers to a specific period of time between the offer and the close of sale in a real estate transaction. If you change your mind, you can try to use a contingency or cancelation clause within the contract to back out of the sale.

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Purchase and sale agreement Pre-approval Closing Title 106

Realty Biz

AUGUST 2, 2023

Additionally, understanding the closing process and utilizing additional resources and tools can streamline the sale. Setting the Right Price for a Quick Sale When selling your home quickly, one of the most critical factors is setting the right price. Overcoming common challenges is also vital.

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Purchase and sale agreement Title Staging Inspection 93

Marco Santarelli

AUGUST 16, 2024

Cheap doesn't mean dilapidated: While properties requiring renovations can offer significant discounts, avoid equating “cheap” with uninhabitable. Consider closing costs, potential renovations, carrying costs like property taxes, insurance, and potential vacancies. This impacts your property selection and exit strategy.

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Due diligence Purchase and sale agreement Renovation Title search 52

HomeLight

OCTOBER 20, 2022

End-of-year listings have historically garnered the highest sales prices in the Austin market. An experienced real estate agent can assist you with preparing your home for sale as well as provide expert guidance on the best time to list your home on the market. Prepping your home for sale. Pricing to sell for the most money.

Seller concession 110

Seller concession Purchase and sale agreement Closing costs Inspection 110

HomeLight

OCTOBER 5, 2020

An appraiser will compare the home to others around it, taking into account recent sales prices for other homes with similar features. But, as we’ll discuss below, the home’s current condition might set it apart from other comparable homes in the area, dragging its value down until it’s been renovated or repaired.).

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Due diligence Earnest money deposit Banks Inspection 72

HomeLight

NOVEMBER 7, 2022

Whether or not you’ll want to push back or negotiate with the buyer will depend on hyperlocal, recent sales trends, so consult your Realtor® to discern promising offers and know what latitude market conditions may or may not allow. The cost to sell a house in Texas generally averages about 7% to 8% of the final sale price.

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Seller concession Purchase and sale agreement Closing costs Inspection 104

HomeLight

MAY 3, 2023

Depending on the price range of the home, I tell my clients that they need to be ready to spend 9%–10% of the sale price on selling costs, including the real estate agent commission and closing costs,” says Joanne McCoy , a top-selling real estate agent in Lincoln, Nebraska. Selling fee Typical % of sale price Real estate agent commission 5.8%

Seller concession 111

Seller concession Purchase and sale agreement Inspection Title 111

HomeLight

FEBRUARY 28, 2022

Whatever the case, a We Buy Houses for Cash company could be the best solution if you’re looking for a quick and easy sale. HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Colorado. Simple Sale. Reviews: Simple Sale is a HomeLight platform, and HomeLight has 4.6

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Closing costs Closing Sales Staging 98

Realty Biz

OCTOBER 26, 2022

Many homes are abandoned due to financial reasons, making them run down and in need of renovation. Go Online For a Search of Abandoned Properties Near Me. Search online databases that specialize in listing abandoned properties. Speak to a real estate attorney and ask them to do a title search.

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Due diligence Title search Inspection Investor 73

Redfin

AUGUST 27, 2021

Below, we outline how you can search for a house’s history so you know exactly when it was built, any major renovations that were completed, and other important details to help make homeownership that much easier and stress free. . Can I do a free online property title search? How can I find the history of my property?

Land 71

Land Title search Construction Title 71

HomeLight

DECEMBER 7, 2021

Source: (LinkedIn Sales Solutions / Unsplash). Generally, cosmetic issues, renovations or updates you want to do, landscaping, and repairs to outbuildings are considered unreasonable repair requests. The buyer may have added contingencies in the offer whereby if the inspection revealed flaws, the buyer can back out of the sale.

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Inspection Purchase and sale agreement Pre-approval Closing 105

HomeLight

JULY 28, 2022

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Connecticut. That means it costs less money to renovate. Fewer dollars on renovations can ostensibly result in better offers than the competition. Simple Sale (a HomeLight platform). Request Offer.

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Closing costs Purchase and sale agreement Residential Closing 104

HomeLight

APRIL 11, 2023

Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. They usually present a take-it-or-leave-it sale price. If you accept the offer, you’ll both sign a sales contract. With a signed sales agreement, the closing process will begin.

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Purchase and sale agreement Closing costs Closing Sales 98

HomeLight

JANUARY 24, 2023

Perhaps you need a fast home sale to start a new job in San Antonio, Charlotte, or Phoenix. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. They usually present a take-it-or-leave-it sale price. If you accept the offer, you’ll both sign a sales contract.

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Purchase and sale agreement Closing costs Closing Agents 98