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?

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Inspection Appraisal Marketing Appraisal Process 78

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. They do not represent either buyer or seller. If the appraisal comes in below contract price, there are actions taken between buyer and seller that can work to resolve the issue.

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Inspection Appraisal Buyers Sellers 52

Housing Wire

APRIL 11, 2023

Buyers, sellers and lenders all have a stake in the sale, and title and escrow ensure that everyone’s interests are protected. They manage and oversee the entire process from the time a seller accepts an offer to the time the buyer takes possession of the property. So why are title and escrow so important?

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Real Estate Legal Sellers Buyers 371

Housing Wire

NOVEMBER 7, 2023

If they’re dying to be in just one specific neighborhood, door-knock that neighborhood for them to uncover the next motivated seller. If there’s a For Sale By Owner in their desired neighborhood and price range, go talk to that seller, take a video and set up a showing (before your buyer does that without you).

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Clients Buyers Real Estate Agent Real Estate 398

Berkshire Hathaway

DECEMBER 20, 2021

Buying a home can be stressful and one of those stressors is often a home inspection. So, let’s walk through what to keep in mind when getting a home inspection. . Additionally, in some cases, buyers can insist the sellers pay for it but typically it is the buyer who takes on the expenses. What do hope inspectors, inspect?

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Inspection Sellers Realtors Investing 52

Housing Wire

APRIL 22, 2024

We negotiated to get the sellers the highest price possible. Even if you’re months or even years away from moving, a seller’s prep session is one of the services I offer homeowners. Many of us are in sellers’ markets with very low inventory. The goal in prospecting FSBO sellers is to be that agent.

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Real Estate Open Houses Brokerage Real Estate Agent 371

Will Springer Realtor

MARCH 1, 2022

A home inspection is almost always the best route to take before purchasing a property. In a competitive market, however, buyers recognize that submitting an offer with a request to conduct a traditional inspection can hurt their chances of winning a bidding war. This is the best option when a traditional inspection is not viable.

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Inspection Buyers Sellers Real Estate 36

Miller Samuel

NOVEMBER 30, 2018

Those are "PiW" loans or have a "Property Inspection Waiver." Liability insurers are already talking about a new target when things go south. Liability insurers are already talking about a new target when things go south. The seller and the buyer determined the market value by agreeing on the price."

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Appraisal Inspection Real Estate Agent Agents 300

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.

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Appraisal Inspection Real Estate Agent Training 404

Listing Spark

DECEMBER 9, 2020

One of the most common questions we get from our home sellers at ListingSpark is “How do I determine what my closing costs are”? For this article, we are going to focus on the home seller closing costs we would typically see in Texas with a residential sale (commercial sales typically have a different set of fees).

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Sellers HOA Insurance Contracts 69

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Editor’s note: There are conventional mortgage options with down payments as low as 3% and government-insured loans with a low- or no-down-payment requirement.) It never will be. I’ll explain later.)

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Agents Buyers Sellers Inventory 400

CA Realty Training

MARCH 22, 2021

The Buyer’s Inspection Advisory (BIA) is a disclosure that is included with the Residential Purchase Agreement (RPA) when you make an offer on a home. Simply put, it is advising the buyer to have a professional inspect the property. In this case, the Buyer Inspection Advisory is for the buyer. FIRE, HAZARD AND OTHER INSURANCE.

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Inspection Real Estate Agent Real Estate Clients 36

Eppraisal

OCTOBER 23, 2023

The seller can reject your bid, make a counteroffer or accept your original proposal. Your response depends on how the seller replies. If the Seller Rejects Your Offer The seller may deny your home purchase offer for various reasons. Your offer will only become legally binding if the seller signs it.

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Real Estate Agent Sellers Inspection Real Estate 69

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan. Let’s get into the first thing you’ll have to factor in with an FHA loan: mortgage insurance.

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Inspection Insurance Buyers Renovations 136

Listing Spark

AUGUST 25, 2022

Home inspections are a critical part of real estate. They impact both buyers and sellers and are key in negotiations and identifying any problem areas in homes. For most buyers and sellers though, they don’t know what they should be looking for in a home inspection. Episode overview. Episode highlights. Key takeaways.

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Inspection Real Estate Construction Sellers 36

Genworth MI Blog

FEBRUARY 29, 2024

Handling property condition concerns on the appraisal report That said, if photos or notes outlined in the appraisal report cause concern for the reviewer, further inspection or repairs may be required. Property conditions that impact subject livability, soundness, and/or structural integrity may cause such further inspection/repairs.

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Appraisal Inspection Training Real Estate 88

Appraisal Buzz

JULY 18, 2022

Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance. This might manifest itself with lower offers that are acceptable to the seller, but price isn’t the only aspect of a transaction. So, how do you comp in this market?

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Sellers Marketing Market Value Home Value 435

Lamacchia Realty

SEPTEMBER 20, 2023

EVERYTHING YOU NEED TO KNOW ABOUT CLOSING COST CREDITS Buyers , sellers , and sometimes even real estate agents get confused with how closing cost credits work. Closing cost credits doesn’t hurt the seller in any way. In fact, they help sellers because many buyers cannot buy without them. That is no longer allowed.

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Sellers Buyers Property Taxes Inspection 61

Movoto

APRIL 8, 2024

After submitting an offer on a home you plan to purchase, a few things might happen – once an offer is accepted (typically, after negotiations but not always), real estate sales agreements come into effect between buyers and sellers. Title and Insurance. What Are Real Estate Sales Agreements? auctions, cash sales, etc.):

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Contracts Real Estate Property Taxes Legal 36

Lamacchia Realty

OCTOBER 6, 2021

However, the general rule of thumb is that it needs to be replaced in 60 days to obtain home insurance. No home insurance, no mortgage. Getting Insurance for a Home with Knob and Tube Wiring. Obtaining insurance for a home with knob and tube wiring comes with a specific set of requirements. Seller Resources.

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Insurance Inspection Buyers Modernization 72

Lamacchia Realty

MARCH 12, 2024

Due to rising rates and home prices that have continued to influence consumer spending, 2023 saw the lowest inventory in recorded history, and in 2024, sellers are still hesitant to enter the market. Offer Over Asking Sellers often price their homes aggressively to incite bidding wars.

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Buyers Inspection Sellers Real Estate 70

McKissock

JULY 26, 2022

Requests to sellers to pay closing costs. Timeliness and types of inspections. Property insurance. Regardless of the strengths and weaknesses of the competing offers, the seller can only negotiate one offer at a time until there is a binding contract. If the seller does not find the initial offer acceptable (e.g.,

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Real Estate Counter Offer Buyers Inspection 81

Raleigh Realty

AUGUST 17, 2021

Whether you are a first-time home buyer or you're buying again, you will want to know how Due Diligence and Earnest Money impact you as a buyer or seller in North Carolina The following article is going to be regarding Due Diligence, Due DIligence fees, and Earnest Money in North Carolina Real Estate. Due Diligence: What Is it?

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Real Estate Real Estate Agent Contracts Inspection 148

Eppraisal

JUNE 23, 2023

Scheduling a Home Inspection Hire a professional home inspector to assess the property's condition Review the inspection report and discussing any concerns with your agent Negotiate repairs or concessions with the seller, if necessary B.

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Finance Inspection Insurance Real Estate Agent 36

Listing Spark

FEBRUARY 6, 2023

Episode Summary In this episode, Aaron Jistel (Broker and Co-Founder at ListingSpark) focuses on how recent changes to Texas Real Estate Commission’s contracts and documents may affect home sellers and buyers. As a seller, this can help to ensure that buyers have the actual cash they are claiming they have.

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Contracts Real Estate Sellers Buyers 36

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan. Let’s get into the first thing you’ll have to factor in with an FHA loan: mortgage insurance.

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Inspection Insurance Buyers Renovations 78

Will Springer Realtor

SEPTEMBER 19, 2023

Unexpected flooding caused major problems for Mabél Guzmán, a real estate broker in Chicago: “I moved into a townhouse that was not even near a flood zone and didn’t require flood insurance,” she says. “I Property owners outside of high-risk flood areas file more than 20% of all claims with the National Flood Insurance Program.

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Insurance Inspection Real Estate Buyers 46

Eppraisal

JULY 19, 2022

Contract Review Whether you are a home buyer or a home seller, once you sign a contract it is time to hire a real estate attorney. This means that both the buyer's and seller's attorneys will have that amount of time to look over the contract and propose any legal changes to the contract that they deem necessary.

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Real Estate Inspection Real Estate Agent Contracts 36

PennyMac

JUNE 28, 2022

Throughout the process of buying a home, many professionals have contributed important services, and both buyers and sellers will need to pay fees for that before the property can be officially sold. From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home.

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Insurance Property Taxes Sellers Inspection 36

Birmingham Appraisal

SEPTEMBER 15, 2022

You can read more about property inspection waivers in a past article I wrote. Appraisal vs Home Inspection. As a new homeowner, you might be confused about the differences between an appraisal and a home inspection. Other users might be sellers, mortgage underwriting, banks, and contractors.

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Appraisal Inspection Appraisal Process Real Estate Agent 90

McKissock

SEPTEMBER 6, 2021

It begins with the listing agent’s communication skills and accessibility to the seller. Keep reading to learn how you can better communicate with all parties involved in a real estate transaction, including sellers, buyers, other agents, lenders, and closing officers. Types of communication problems.

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Real Estate Real Estate Agent Sellers Inspection 77

Assurance Financial

APRIL 29, 2021

Earnest money is a portion of the sale price of the home that a buyer pays upfront, after the seller accepts their offer. The deposit shows that a buyer is serious and allows the seller to take the home off the market. If the buyer backs out of the sale, the seller gets to keep the earnest money. Home Inspection.

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Mortgage Insurance Sellers Inspection 69

Zillow

JULY 15, 2019

American Society of Home Inspectors (ASHI) : A not-for-profit professional association that sets and promotes standards for property inspections and provides educational opportunities to its members. Cash-value policy : A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur.

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Real Estate Agent Insurance Inspection Buyers 56

The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. Learn how you, the real estate investor, can avoid the bank and make an agreement directly with the seller. A land contract, also known as a land installment contract, is an executory financing agreement between a seller and a buyer.

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Contracts Tenants Legal Sellers 143

Lamacchia Realty

JANUARY 10, 2022

Inventory initially dropped in March 2020 as a result of sellers pausing on listing their homes and that number has stayed extremely low since. Compose a Personal Letter Sellers are often more likely to choose a buyer with whom they feel comfortable. Consider Waiving Inspection. Shorten Contingency Time Frames. 5% down payment.

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Sellers Buyers Inspection Bracketing 72

Movoto

JANUARY 31, 2022

Real estate attorney: They can represent you or the seller, or both sides may have attorneys. Title company representative: The title company insures the title status during closing. The seller: The current homeowner. Completing paperwork for property transfer. Transferring payment at your home closing.

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Real Estate Agent Sellers Insurance Buyers 36

Raleigh Realty

FEBRUARY 19, 2022

Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. The first thing you should do: call your agent, tell them the appraisal price is the highest you're willing to pay, and have them tell the seller so. What is a Home Appraisal?

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Appraisal Process Appraisal Construction Sellers 139