Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. An offer comes in at 5 p.m.

Appraisal 432

Appraisal Inspection Real Estate Agent Training 432

Housing Wire

NOVEMBER 4, 2024

Mortgage butterflies As confident and comfortable as I was in the home search process and the paperwork involved in signing on with an agent, I was not feeling great about the mortgage preapproval and application process. But in another stroke of luck, I have a cousin who is a loan officer at Guild Mortgage.

Agents 431

Agents Inspection Real Estate Sellers 431

Raleigh Realty

FEBRUARY 24, 2022

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147

Contracts Real Estate Sellers Real Estate Agent 147

Housing Wire

OCTOBER 9, 2024

“Maybe you are trying to make your offer more attractive to the seller, so you don’t include it on the purchase and sales, but in a negotiation situation, I think it is really important to have it on there, just as you would if you are waiving inspection, so that way everyone knows what the buyer’s intentions are going in.”

Buyers 428

Buyers Sellers Agents Contracts 428

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. In June, the average interest rate on a 30-year mortgage was 6.92%, while the median house sale price increased by 4% year-over-year to a record $442,525. of the residences that were under contract in that month. of homes that went under contract.

Buyers 396

Buyers Contracts HOA Property Taxes 396

Appraisal Buzz

DECEMBER 11, 2024

As mortgage delinquencies remain relatively low but economic uncertainties grow, property preservation companies are facing increasing pressure to maintain efficiency, ensure compliance, and adapt to the evolving needs of servicers and communities. We are exploring batching inspections. How is AI impacting the sector?

Inspection 396

Inspection Technology Insurance Training 396

Housing Wire

JUNE 24, 2021

Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. If a homebuyer can’t close on their mortgage in time to buy the home they want, instead of losing out on the house, Accept.inc will buy the property with its own funds and reserve the home on their behalf.

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Sellers Buyers Investors Inspection 336

The Robert Weiler Company

JANUARY 2, 2021

Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land. So, what is a land contract agreement, and how does it work? A home or condo.

Contracts 143

Contracts Tenants Legal Sellers 143

Housing Wire

JULY 26, 2024

Does your buyer need to secure a mortgage ? Contingencies in the agreement protect both parties if problems arise during the appraisal, inspection, or financing stages of the transaction. However, an agent can help suggest a fair market value, draw up contracts, review documents, and ensure state-required protocols are followed.

Market Value 398

Market Value Real Estate Agent Real Estate Finance 398

Realtor

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Get final mortgage approval. Clear the title.

Buyers 208

Buyers Inspection Contracts Real Estate Agent 208

Housing Wire

SEPTEMBER 9, 2020

and I counseled my client to bid accordingly, waive his mortgage contingency, then we bid $1.45 Another critical element, according to agents, is not to make the deals contingent upon things like inspections and not to “nickel and dime” the seller. “The client went to highest and best on Monday at 5 p.m., million and we got it.”

Agents 501

Agents Marketing Clients Buyers 501

Realtor

JULY 13, 2021

The provisions of a contingency contract are there to protect buyers and sellers. Home inspection. A home inspection is the foundation on which all other real estate contingencies are built. In the inspection, a neutral expert assesses the home for roofing, plumbing, structural, electrical, and other major problems.

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Inspection Real Estate Agent Real Estate Buyers 203

D Fritz Appraisals

AUGUST 12, 2019

What’s the Difference Between a Home Inspection and a Home Appraisal? If you’re in the market for a new home, the terms “home appraisal” and “home inspection” are more than likely to come up at some point as you zero in on a property you want to buy. What Is a Home Inspection? What Is a Home Appraisal?

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Inspection Appraisal Property Appraisal Real Estate 96

Housing Wire

MAY 2, 2022

COVID-19 brought many changes to the housing industry as stay-at-home orders forced companies in the space to re-think the mortgage process. The appraisal industry was no exception, creating hybrid or remote models to conduct an appraisal and home inspection without physically entering the home as COVID-19 cases rose.

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Appraisal Valuation Technology Inspection 385

Housing Wire

OCTOBER 1, 2022

Mortgage interest rates have risen quickly in the past few months further eroding affordability. Notably, the market has contracted as fewer buyers can afford to purchase in today’s market with the rise in interest rates and the continual rise in home prices. It is difficult to obtain a mortgage today.

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Realtors Housing Market Marketing Buyers 402

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 414

Agents Buyers Sellers Inventory 414

Housing Wire

JANUARY 11, 2024

” Rich Weidel, Princeton Mortgage CEO : “I’m in some owners working groups, and somebody will bring up a tech and either they’re having great success and we’re struggling with it, or we’re having great success and they’re struggling with it. And there are some states or even some geographies within states that still mandate that.

Technology 409

Technology Contracts Business Appraisal 409

Housing Wire

AUGUST 31, 2022

Outsourcing or hiring in-house compliance experts are no longer the only options for servicers who need help handling lien releases and assignment of mortgage documents. Quality inspection after data entry can be customized to account for new employees or experts with low error rates.

Clients 294

Clients Inspection Technology Contracts 294

Housing Wire

JANUARY 19, 2023

The report noted that “most bankers reported that residential mortgage demand remained weak.” Philadelphia – Homebuilders continued to report weak demand and a modest decline in contract signings for new homes. Days on the market are lengthening, and home inspections are becoming the norm again.

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Inventory Housing Market Marketing Construction 410

Housing Wire

JUNE 28, 2024

There is nothing there right now that really scares us; buyers just have the opportunity to be a bit more sensible with their offers and don’t have to worry about waiving inspections or financing contingencies, which is a good thing.”

Housing Market 354

Housing Market Marketing Inventory Buyers 354

Genworth MI Blog

AUGUST 31, 2022

Enact’s David Foster recently spoke with MortgageOrb about how the COVID-19 pandemic impacted inspections and appraisals, the changes we see today, and other appraisal factors to consider. Q: How have inspections and appraisals been impacted since the beginning of the COVID-19 pandemic?

Inspection 78

Inspection Appraisal Marketing Appraisal Process 78

Housing Wire

NOVEMBER 1, 2024

That can include being a housing market expert and advising clients on the best times to list or buy a home; having referrals handy for inspections, repairs, staging and photography; understanding the mortgage origination process; and more. This course covers real estate law, contracts, finance and ethics.

Real Estate 445

Real Estate Real Estate Agent Agents Brokerage 445

Raleigh Realty

MARCH 31, 2021

In every market though, things happen where homes that are under the contract may not reach the closing table and the contingency clause usually protects the buyer and sometimes the seller in the event the parties decide to terminate. Contingencies are conditions that either the buyer or seller (or both) must meet for the sale to go through.

Real Estate 148

Real Estate Sellers Contracts Buyers 148

Will Springer Realtor

MAY 2, 2023

They have safeguards built in to written agreements such as a purchase contract on a home. This person represents the best interests of the mortgage company. If the value determined by the appraiser is less than the agreed offer price, the financial institution will not approve the full amount of the mortgage.

Contracts 58

Contracts Buyers HOA Inspection 58

D Fritz Appraisals

AUGUST 11, 2022

Even with a trusted real estate professional on your side, you should always choose to get a professional inspection and appraisal of the home to give you peace of mind during the process. . Get pre-approved for a mortgage to show the current owner/seller you can afford to finance the home. Both parties sign the contract.

Real Estate Agent 122

Real Estate Agent Inspection Real Estate Sellers 122

Hank Miller Team

NOVEMBER 22, 2022

There are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. In most cases, if a home buyer is getting a mortgage, an appraisal will be completed. On occasion, appraisals come in below contract price. What is a Home Inspection?

Inspection 52

Inspection Appraisal Buyers Sellers 52

Realtor

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Get final mortgage approval. Clear the title.

Buyers 78

Buyers Inspection Contracts Real Estate Agent 78

Birmingham Appraisal

NOVEMBER 20, 2024

Myth #3: The appraisal always comes in at the contract price I have heard this observation from others and would like to address it as a myth because it does not always happen. In a sales transaction, there is one additional piece of data and that is the contract price. An appraisal addresses the value of a property.

Real Estate 87

Real Estate Appraisal Inspection Contracts 87

Birmingham Appraisal

SEPTEMBER 15, 2022

What is a Mortgage Appraisal? A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. You can read more about property inspection waivers in a past article I wrote.

Appraisal 96

Appraisal Inspection Appraisal Process Real Estate Agent 96

Movoto

APRIL 8, 2024

This is a legally binding agreement between the buyer and seller that helps ensure the sale will be completed according to the contract’s outlined conditions. Real estate purchase contracts come into play to protect both parties and move the sale forward, helping prevent either party from wasting the other’s time and money.

Contracts 36

Contracts Real Estate Property Taxes Inspection 36

Realtor

JUNE 12, 2018

Don’t skip the inspection. While home inspections are sometimes viewed as a way to protect the buyer from a dishonest seller, the fact is most homes have problems that the owners simply aren’t aware of, says Scott Brown , owner of Brightside Home Inspections in Syracuse, NY. Lawyer up and sign that contract!

Inspection 85

Inspection Real Estate Agent Real Estate Contracts 85

Raleigh Realty

MARCH 26, 2022

Is a home inspection worth the cost? The only time you would have to pay the buyer’s agent is if you were buying a For Sale By Owner (FSBO) and the seller stated in the contract that they would not be paying any commission. Buyer's Agents will help you answer the question of how to choose the best mortgage lender.

Real Estate 148

Real Estate Buyers Agents Contracts 148

Realtor

JUNE 12, 2018

Don’t skip the inspection. While home inspections are sometimes viewed as a way to protect the buyer from a dishonest seller, the fact is most homes have problems that the owners simply aren’t aware of, says Scott Brown , owner of Brightside Home Inspections in Syracuse, NY. Lawyer up and sign that contract!

Inspection 78

Inspection Real Estate Agent Real Estate Contracts 78

Raleigh Realty

MARCH 23, 2021

For example, buyers may make an offer on your home that is contingent on your house passing a home inspection. For example, you should insist on obtaining a document stating the buyers have been approved for a mortgage to be sure they have the funds to buy your home. What Real Estate Contract do I Use When Selling For Sale By Owner?

Real Estate Agent 133

Real Estate Agent Real Estate Realtors Contracts 133

Housing Wire

APRIL 27, 2023

But the caveat, of course, is that all bets are off if there’s a more meaningful contraction in lending [in the wake of recent bank failures and other economic factors] because then you’re in serious trouble,” Petrosinelli added.

Renovations 292

Renovations Investing Real Estate Marketing 292

Appraisal Today

JANUARY 26, 2024

Personal Inspection I recently completed an appraisal on a residential dwelling for Lender A that sells loans to Fannie Mae and Freddie Mac and the report was completed on a GSE form. Lender B indicated there wasno need for me to re-inspect the home, since my previous inspection date was only a few days earlier.

Appraisal 85

Appraisal Contracts Mortgage Inspection 85

Realtor

FEBRUARY 22, 2019

If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal. To get a mortgage, you’ll need a home appraisal because the home serves as collateral for your lender. Sorry, not yet. What’s a buyer to do?

Appraisal Process 78

Appraisal Process Appraisal Mortgage Buyers 78