Who Pays for Title Insurance Costs in Texas
In Texas, responsibility for title insurance can vary depending on the type of policy and local market norms. Here’s a breakdown: Lender’s Title Insurance: Always required: Lenders will require the buyer to purchase a lender’s title insurance policy. This protects the lender’s financial interest in the property if there are title defects like liens, fraud, […]
Should you Tip Your Realtor
Quick Answer Realtors are not typically tipped for their services, as they are paid a commission from the sale of the home. However, some clients may choose to tip their realtor as a gesture of appreciation for their hard work. According to a survey conducted by the National Association of Realtors, only 8% of home […]
Selling a House with Unpermitted Work: Tips and Tricks
Quick Facts According to the National Association of Realtors, approximately 10% of all homes have unpermitted work. According to the National Association of Realtors, the average cost to obtain permits for unpermitted work is $2,000. Nearly 15% of buyers would not consider purchasing a home with unpermitted work. What is Unpermitted Work Unpermitted work refers […]
Why Should You Consider Auctioning a House
Quick Facts Auctioned houses typically sell within an average of 30 days, compared to an average of 90 days for traditionally listed properties. Auctioned properties have an average acceptance rate of offers at around 95%, indicating higher buyer satisfaction with the purchase process. Auctions are becoming increasingly popular with homeowners, with an estimated 10% of […]
Seller Response Time: How Long Buyer’s should wait for an answer
Quick Answer In the US, the median time to respond to an offer is 36 hours. In the US, 40% of sellers respond to an offer within 24 hours. Are you going to be looking for a new home on the future? One of the most common stresses of buying a new property in is […]
Should I Waive a Home Inspection to buy a house
Quick Answer No waiving the inspection contingency could open yourself of to tens of thousands of dollars in repairs. Waiving an inspection contingency means that the buyer is agreeing to purchase the property without having a professional inspector come in and check the condition of the home. The only reason people would waive the inspection […]
What to consider when making a lowball offer on a house
Quick Answer Sellers may be more likely to accept a lowball offer if they are in a hurry to sell the house or if they are motivated to move quickly. About 80% of sellers will negotiate on the price of their home. Buying a house can be extremely stressfl, especially when you have to make […]
Can a Seller Back Out of a Real Estate Contract
Quick Answer: Yes a buyer can try and force the seller to sell, but it is a costly process and involves hiring an attorney. A buyer may be better off finding a seller who wants to sell. Refusing to sign closing documents can potentially result in legal consequences for the seller. Yes, a seller can […]
No Money? Here’s How to Buy a Foreclosed Home
Quick Facts Out of those who manage to secure a zero-down deal on a foreclosed property, roughly 25% finance renovations using low-interest loans or grants available through various housing initiatives Approximately 1 in every 10 foreclosed homes is sold with a down payment of less than 5%. (Source: RealtyTrac) To buy a foreclosed home with […]
Can You Really Sell Your House for $1
Quick Facts: Yes you can, and the most common reason for selling a house for $1 is to transfer the property to a family member. In some states, a homeowner may be able to sell a house for $1 to avoid paying transfer taxes. It can be used as a way to transfer a property […]